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MMR Battle Mountain Gold, Inc.

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Share Name Share Symbol Market Type
Battle Mountain Gold, Inc. TSXV:MMR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Sama Resources Announces Private Placement With International Finance Corporation

10/11/2011 4:47pm

Marketwired Canada


THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES.


Sama Resources Inc. ("Sama") (TSX VENTURE:SME) is pleased to announce, subject
to TSX Venture Exchange ("TSXV") approval, a non-brokered private placement (the
"Private Placement") of 4,310,429 units (a "Unit") at a price of CAN$0.315 per
Unit, for total gross proceeds of approximately CAN$1,357,786. 


The Private Placement is being subscribed to by International Finance
Corporation ("IFC") for CAN$1,250,000 and MMR Exploration Limited ("MMR") (a
subsidiary of Minmetals Resources Limited (HKSE 1208) for CAN$107,785 under its
pre-emptive right to maintain ownership (see Sama's news release dated June 28,
2011 for more information on MMR).


"We are extremely pleased to welcome IFC as a shareholder of Sama. IFC is known
world-wide in the international banking community and understand well Sama's
focus in Cote d'Ivoire and Guinea, West Africa. We look forward to a long
working relationship with IFC and thank them for their support," stated Dr.
Marc-Antoine Audet, President and Chief Executive Officer of Sama. 


IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. IFC helps developing
countries achieve sustainable growth by financing investment, providing advisory
services to businesses and governments, and mobilizing capital in the
international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, IFC helped its clients create jobs, strengthen environmental
performance, and contribute to their local communities-all while driving its
investments to an all-time high of nearly $19 billion. For more information,
visit www.ifc.org. 


Each Unit will be comprised of one common share of Sama (a "Share") and one
non-transferable share purchase warrant (a "Warrant"). Each Warrant will entitle
the holder to purchase for a period of 4 years from the date of issuance (the
"Expiry Date") one additional Share at an exercise price of CAN$0.4725 per
Warrant Share until the Expiry Date, subject to the following:


Accelerated Expiry No. 1

If at any time, following (i) 18 months from closing date, (ii) the trading
price of Sama's Shares on the TSXV or other senior Canadian stock exchange on
which Sama's Shares may then be listed, exceeds CAN$1.00 for 30 consecutive
trading days or more, then Sama shall be entitled to provide the warrantholders
a notice of acceleration of the Expiry Date with respect to 50% of the Warrants
held by such warrantholders. Once Sama provides the warrantholders with a notice
of acceleration, the warrantholder's right to exercise its Warrants will expire
60 days after such notice is delivered to the holder. 


Accelerated Expiry No. 2

If at any time following (i) 18 months from closing date, (ii) the trading price
of Sama's Shares on the TSXV or other senior Canadian stock exchange on which
Sama's Shares may then be listed, exceeds CAN$1.00 for 30 consecutive trading
days or more, and (iii) Sama has delivered a bankable feasibility study to La
Societe pour le Developpement Minier de la Cote d'Ivoire as agreed in the joint
venture agreement, and has notified the warrantholders of such event, then Sama
shall be entitled to provide the warrantholder with a notice of acceleration of
the Expiry Date with respect to the additional 50% of such warrantholder's
Warrants. Once the Issuer provides the warrantholders with a notice of
acceleration, such warrantholder's right to exercise its Warrants will expire 60
days after such notice is delivered.


No finders' fees or commissions will be payable. Net proceeds from the Private
Placement will be used for exploration purposes and general working capital
requirements.


1 Year Battle Mountain Gold, Inc. Chart

1 Year Battle Mountain Gold, Inc. Chart

1 Month Battle Mountain Gold, Inc. Chart

1 Month Battle Mountain Gold, Inc. Chart