Sarama Sources Ltd. (“Sarama” or the “Firm”) (ASX:SRR, TSX- V:SWA) is happy to report that on 18 September 2024, it had accomplished the problem of shares partially settlement of deferred government salaries and director charges (the “Compensation Shares” or the “Shares for Debt”) as beforehand introduced in a information launch dated 17 July 2024.
The Shares for Debt association comprised the problem of twenty-two,348,980 Chess Depository Devices (“CDIs”) at a deemed concern value of A$0.02 per CDI, equal to A$446,979.60 as detailed in Desk 1 beneath. Every new CDI issued beneath the Placement will rank equally with present CDIs on concern and every CDI will characterize a useful curiosity in a single widespread share of the Firm. The issuance of the Shares for Debt was topic to TSXV and shareholder approval which was obtained on the annual common assembly held on 11 September 2024 (the “Assembly”).
Desk 1
The Compensation Shares and Shares for Debt have been issued upon receipt of shareholder approval, as required by the Australian Securities Alternate Itemizing Guidelines, on the Assembly. An Appendix 2A was introduced to the ASX on 18 September 2024 and gives additional element on the problem of the Compensation Shares and Shares for Debt.
The Share for Debt association will cut back the Firm’s liabilities.
The CDIs issued beneath the Placement are topic to a TSX Enterprise Alternate (“TSXV”) “maintain interval” of 4 months and in the future from the date of concern of the CDIs.
The Securities haven’t been and won’t be registered beneath the U.S. Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities legal guidelines and is probably not supplied or offered inside america except registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from registration is obtainable. This announcement doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the Securities inside america or to, or for the account or advantage of, U.S. Individuals (as outlined beneath Regulation S beneath the U.S. Securities Act), nor shall there be any sale of those Securities in any jurisdiction during which such provide, solicitation or sale could be illegal.
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