Sarama Celebrates A$2m Equity Success Alongside ASX Update
Sarama Completes A2M Equity Placement and ASX Cleansing Notice
Sarama Resources Limited (Sarama or the Company) has recently announced the successful completion of an equity placement to institutional and sophisticated investors, raising approximately $9.4 million before costs. The placement was oversubscribed and comprised the issue of 82,464,223 fully paid ordinary shares at a price of 11.4 cents per share.
This strategic move reflects Sarama’s commitment to advancing its flagship South Houndé Project in Burkina Faso and accelerating exploration activities across its entire portfolio. With the newly secured funds, the Company is well-positioned to further enhance its resource base and leverage on potential growth opportunities.
Furthermore, Sarama’s decision to undertake an ASX Cleansing Notice along with the equity placement is a testament to the Company’s transparent and compliant approach to regulatory requirements. By issuing the ASX Cleansing Notice, Sarama aims to address any potential concerns pertaining to the equity placement and maintain the integrity of the market.
Through effective communication and timely disclosure of information, Sarama aims to foster trust and confidence among its stakeholders, including investors, regulators, and the broader market. The Company’s proactive approach to regulatory compliance underscores its commitment to upholding the highest standards of corporate governance and transparency.
Sarama’s successful completion of the equity placement and ASX Cleansing Notice marks a significant milestone in its journey towards unlocking the full potential of its mineral assets. By securing funding and adhering to regulatory standards, Sarama is well-equipped to navigate the dynamic landscape of the mining industry and create long-term value for its shareholders.
As the Company continues to execute its strategic initiatives and drive exploration activities, investors can look forward to a promising future filled with growth prospects and value creation. Sarama’s dedication to delivering results and maintaining compliance sets a solid foundation for sustainable success in the competitive resources sector.
