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 difficulty of shares partly settlement of deferred govt 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 difficulty of twenty-two,348,980 Chess Depository Devices (“CDIs”) at a deemed challenge worth of A$0.02 per CDI, equal to A$446,979.60 as detailed in Desk 1 under. Every new CDI issued below the Placement will rank equally with present CDIs on challenge and every CDI will signify a helpful curiosity in a single frequent 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 difficulty of the Compensation Shares and Shares for Debt.
The Share for Debt association will cut back the Firm’s liabilities.
The CDIs issued below the Placement are topic to a TSX Enterprise Alternate (“TSXV”) “maintain interval” of 4 months and at some point from the date of challenge of the CDIs.
The Securities haven’t been and won’t be registered below the U.S. Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities legal guidelines and will not be provided or bought inside the USA until registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption from registration is out there. This announcement doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any of the Securities inside the USA or to, or for the account or good thing about, U.S. Individuals (as outlined below Regulation S below the U.S. Securities Act), nor shall there be any sale of those Securities in any jurisdiction through which such provide, solicitation or sale can be illegal.
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