Sarama Resources Arranges A$1.5 Million Equity Placement

Sarama Resources Ltd. has announced a successful private placement, raising A$1.5 million. The placement received strong backing from existing investors and aims to advance Sarama’s copper-gold projects in New South Wales, Australia, while supporting general working capital needs. Additionally, funds will aid the company’s US$242 million damages claim against Burkina Faso, currently under arbitration.

The placement consists of issuing up to 42,857,142 Chess Depository Interests (CDIs) at A$0.035 per CDI, reflecting slight discounts on current market prices. A notable participation comes from Sarama’s board and management, classifying as a "related party transaction" under Canadian regulations. Approval from TSXV is pending.

Sarama's arbitration process through the ICSID progresses with a Merits Hearing set for February 2027. This step highlights continued developments in its dispute over the Sanutura Gold Project expropriation claim.