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
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:
T: +61 3 9284 4256
M: +61 407 434 329