Sarama Resources Announces Capital Raise and ASX Breach

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

Sarama Resources Ltd. has announced an update on its capital raising efforts, which included a two-tranche placement to raise up to A$1 million, and disclosed an inadvertent breach of the Australian Securities Exchange Listing Rules. The company has taken steps to ensure future compliance and is unable to issue any new securities under the specific listing rules until February 2025, with the intent to seek shareholder approval for additional placement capacity at its 2024 annual general meeting.

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