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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 Closes Private Placement of CAN$1,608,244.79

23/12/2011 4:19pm

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" or the "Company") (TSX VENTURE:SME) is pleased to
announce the closing, and TSX Venture Exchange approval, of its previously
announced private placement with International Finance Corporation ("IFC"); MMR
Exploration Limited, a subsidiary of Minmetals Resources Limited (HKSE:1208)
("MMR"); and African Lion 3 Limited ("African Lion") of 5,105,539 units (the
"Units"). The Units were issued at a price of CAN$0.315 per Unit, for total
gross proceeds of CAN$1,608,244.79 (the "Private Placement"). Each Unit is
comprised of one common share of the Company (a "Share") and one
non-transferable share purchase warrant (the "Warrant"). Each Warrant entitles
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 June 22, 2013, the trading price of Sama's Shares on
the TSX Venture Exchange ("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 within 5 business days Sama may 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 June 22, 2013, (i) 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
(ii) Sama has delivered a bankable feasibility study to the advisory committee
of the joint venture between Sama and La Societe pour le Developpement Minier de
la Cote d'Ivoire for the Samapleu project in Cote d'Ivoire, and (iii) such
advisory committee has decided to proceed with the Samapleu project, then within
5 business days Sama may provide 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.


"Sama is pleased to welcome IFC as an important stakeholder," said Dr.
Marc-Antoine Audet, President and Chief Executive Officer of Sama. "We look
forward to drawing from IFC's expertise to help ensure that the progress at
Samapleu follows global best practices for the mineral exploration industry, the
environment and for working with local communities," he added.


The Company has granted IFC a pre-emptive right pursuant to which, for so long
as IFC holds any equity interest in Sama on a fully-diluted basis, it will have
the right to participate in any future equity private placement or public
offering of Sama (an "Offering") to allow it to maintain the same percentage
interest in the Company after completion of the Offering (assuming the
conversion or exchange of any convertible securities issued under the Offering)
as existed immediately prior to completion of the Offering.


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. Please go to the link
below to view IFC's news release dated December 20, 2011.


http://www.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/BFECBE778C94C6C98525796C005BFC00.


MMR (HKSE:1208) is an international upstream base metals company. It is one of
the world's largest producers of zinc as well as a substantial producer of
copper, lead, gold and silver. MMR currently has mining operations located in
Australia and Asia and a large portfolio of exploration and development projects
in Australia, Asia and North America. Its operations include the Century mine in
Queensland, Sepon copper and gold operations in Laos, Golden Grove underground
base and precious metals mine in Western Australia and the poly-metallic
Rosebery mine in Tasmania.


African Lion is a private equity investment fund that strategically invests in
early-stage resource companies from advanced exploration through to operating
mines in Africa. African Lion has a quality shareholder base which includes the
European Investment Bank, Proparco (the development bank of the French
Government), CDC Group plc (UK Government-owned development fund), Lion
Selection Group (Australian-listed mining investment company), Botswana
Insurance Fund Management and RMB Structured Life Ltd. (a subsidiary of the
FirstRand Group), each of whom have the potential to co-invest or provide debt
funding to investees.


No finders' fees or commissions were payable in connection with the Private
Placement. Net proceeds from the Private Placement will be used for the
exploration and development of Sama's nickel-copper and nickel-cobalt rich
laterite projects in Cote d'Ivoire and Guinea, West Africa, and for working
capital purposes.


For more information, please visit Sama's website at www.samaresources.com.

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