VANCOUVER, Jan. 30, 2014 /CNW/ - The Board of Directors of Sarama
Resources Ltd. ("Sarama" or the "Company") has granted 1,415,000
options to 11 employees, directors and officers of the Company. The
option grant is the result of the Company's annual compensation review
and the issuance is made in accordance with the stock option plan of
the Company. This plan was approved by shareholders on June 19, 2013
and allows the Company to issue a number of options up to 10% of its
rolling issued and outstanding common shares. The options will vest
over a 6 month period, have an exercise price of $0.28 and are
exercisable for a period of 3 years from the date of the grant
thereof. The closing price for the Company shares listed on the TSX-V
as of January 29, 2013 was $0.275 and the 5-day volume weighted average
price ("VWAP") was $0.114. The exercise price is a 146% premium to the
5-day VWAP and a 14% premium to the closing bid price. Following the
grant outlined herein, the Company will have options outstanding equal
to 9.8% of its issued and outstanding common shares.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
ABOUT SARAMA RESOURCES LTD
Sarama Resources Ltd (TSX-V: SWA) is a West African focused gold
explorer with substantial landholdings in Burkina Faso, Liberia and
Mali.
Sarama's flagship properties are situated within the Company's South
Houndé Project area in south-west Burkina Faso. Located within the
prolific Houndé greenstone belt, Sarama's exploration programs have
built on significant early success to deliver a maiden Inferred Mineral
Resource estimate of 1.5 Moz gold1. Outside of Burkina Faso, Sarama is focused on consolidating a number
of under-explored landholdings in other emerging and established mining
jurisdictions.
Incorporated in 2010, the Company's Board and management team have a
proven track record in Africa and a strong history in the discovery and
development of large-scale gold deposits. Sarama is well positioned to
build on its current success with a strong financial position and a
sound exploration strategy across its property portfolio.
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29.13 Mt @ 1.6 g/t Au (at a 0.8 g/t Au cut-off)
SOURCE Sarama Resources Limited
For further information on the Company's activities, please contact:
Andrew Dinning
e: info@saramaresources.com
t: +61 (0) 8 9363 7600
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