WASHINGTON, Dec. 5, 2016 /CNW/ - IFC, a member of the World Bank Group, announces the expiration of certain warrants and sale of certain common shares of Sama Resources Inc. (Sama).
On December 1, 2016 IFC sold, and disposed of ownership and control over, a total of 612,000 common shares (the Sold Shares) of Sama at an average price of CDN$0.096 through the facilities of the TSX Venture Exchange for total gross proceeds of CDN$58,813.20. On December 20, 2015, IFC ceased to have control over a total 3,968,254 warrants of Sama (the Expired Warrants) as such warrants, which were exercisable into common shares of Sama at an exercise price of $0.4725, expired unexercised and IFC received no consideration in respect thereof.
The Expired Warrants and the Sold Shares represented, respectively, approximately 3.5% and 0.5% (4.0% in the aggregate) of the total issued and outstanding common shares of Sama assuming 114,905,287 common shares of Sama are outstanding.
IFC previously held 13,050,163 common shares representing approximately 11.4% of the total issued and outstanding common shares of Sama, or 16.2% assuming the exercise of all 6,559,163 warrants previously held by IFC. Following the expiration of the Expired Warrants and Sale of the Sold Shares, IFC continues to hold 12,447,163 common shares of Sama representing approximately 10.8% of the total issued and outstanding common share of Sama, or 12.8% assuming the exercise of IFC's remaining 2,590,909 warrants which are due to expire on December 19, 2016.
IFC executed these transactions as part of its regular portfolio management. It will maintain its remaining holdings in Sama for investment purposes and may, in the future, take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing.
Sama's head office is located at: Suite 132, 1320 Graham, Ville Mont-Royal, Quebec, H3P 3C8.
IFC, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433, 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
For further information: A copy of IFC's early warning report required to be filed in connection with the sale of common shares of Sama will appear on Sama's profile on SEDAR at www.sedar.com and may also be obtained by calling Carla Monteiro at +1 416.216.4040.