WASHINGTON, Dec. 22, 2016 /CNW/ - Further to its press release of December 19, 2016, IFC, a member of the World Bank Group, wishes to announce a correction to it holdings of warrants and common shares of Sama Resources Inc. (Sama).
In its December 19, 2016 press release IFC announced that it sold a total of 370,000 common shares (the Sold Shares) of Sama at an average price of CDN$0.10 through the facilities of the TSX Venture Exchange for total gross proceeds of CDN$37,000. The Sold Shares represented 0.3% of the total issued and outstanding common shares of Sama assuming 114,905,287 common shares of Sama are outstanding. IFC also announced in the December 19, 2016 press release that certain warrants of Sama had expired unexercised. However, IFC has since been advised that the expiration date for all of the 2,590,909 warrants of Sama (the Warrants) which IFC understood had expired on December 19, 2016 had in fact been extended to June 19, 2018 and accordingly IFC continues to hold the Warrants. Sama received approval form the TSX Venture Exchange (the TSXV) on October 13, 2016.
Accordingly, before the sale of the Sold Shares, IFC held 12,447,163 common shares representing approximately 10.8% of the total issued and outstanding common shares of Sama, or 12.8% assuming the exercise of all 2,590,909 warrants previously held by IFC. Following the sale of the Sold Shares, IFC continues to hold 12,077,163 common shares of Sama and 2,590,909 warrants representing approximately 10.5% of the total issued and outstanding common shares of Sama, or 12.5% assuming the exercise of all 2,590,909 warrants currently held by IFC.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it's needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
SOURCE International Finance Corporation
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