MMG Exploration Holdings Limited Announces Acquisition of Shares and Warrants in Sama Resources Inc.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MELBOURNE, May 9, 2013 /CNW/ - MMG Exploration Holdings Limited ("MMG Exploration"), formerly MMR Exploration Limited, a wholly-owned subsidiary of MMG Limited, announces that, on 9 May 2013, it entered into a subscription agreement pursuant to which it agreed to acquire, subject to customary conditions, 3,950,000 units of Sama Resources Inc. ("Sama") in a private transaction for C$0.20 in cash per unit, or C$790,000 in the aggregate. Sama is listed on the TSX Venture Exchange (the "TSXV").  Each unit comprises one common share of Sama and one-half of one common share purchase warrant.  Each whole warrant is exercisable for one common share of Sama at a price of C$0.30 per share until the first anniversary of the closing of the placement which is expected to occur on 21 May 2013.

The units of Sama were acquired by MMG Exploration for investment purposes.  MMG Exploration may from time to time, depending on market and other conditions, increase or decrease such holdings of common shares or other securities of Sama.

Following the completion of this acquisition, MMG Exploration will hold 15,354,009 common shares of Sama, representing approximately 17.74% of the outstanding common shares of Sama (19.95% on a diluted basis including the 416,685 warrants to purchase common shares of Sama previously acquired by MMG Exploration and the 1,975,000 warrants to purchase common shares of Sama included in the units).  MMG Exploration previously held an additional 3,650,000 warrants to purchase common shares of Sama, however those warrants expired unexercised on 15 July 2012.

Additional details regarding the acquisition will be contained in an early warning report filed by MMG Exploration pursuant to Canadian securities laws under Sama's profile at www.sedar.com.  A copy of the report can be obtained from MMG Exploration at the contact information noted below.

About MMG Limited
MMG Limited is a mid-tier global resources company which explores, develops and mines base metal projects around the world. It is headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange (Stock Code: 1208).

MMG owns and operates the Century, Golden Grove and Rosebery mines in Australia, the Kinsevere mine in the Democratic Republic of the Congo (DRC) and the LXML Sepon mine in Laos.

Its major development projects include Dugald River project in Queensland, Australia and the Izok Corridor base metals project in Nunavut, north-west Canada. MMG also has significant exploration projects and partnerships in Australia, Africa and the Americas. It is one of the world's largest producers of zinc and also produces significant amounts of copper, lead, gold and silver.

 

SOURCE: MMG (Minerals and Metals Group)

For further information:

visit www.mmg.com

Media enquiries:

Ted Woodruff
Communications Advisor
T: +61 3 9284 4256
M: +61 407 434 329
E: ted.woodruff@mmg.com

Profil de l'entreprise

MMG (Minerals and Metals Group)

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