Sarama Resources Advances with Equity Placement

Sarama Resources (TSE:SWA) has released an update.

Sarama Resources Ltd. has successfully closed the first tranche of its A$1 million equity placement, raising A$900,000 through the issuance of 45 million CDIs at A$0.02 each. The funds will be used for potential acquisitions, exploration, and general corporate expenses, with a second tranche of 5 million CDIs pending shareholder approval. The company confirms no insiders participated in the placement, and the transaction is subject to final TSX Venture Exchange approval.

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