SUN VALLEY, Idaho, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Sun Valley Gold LLC (“Sun Valley”) announced today that on June 30, 2018 a total of 1,666,666 common share purchase warrants of Sarama Resources Ltd. (“Sarama”) beneficially owned by Sun Valley Gold Master Fund, Ltd. (the “Master Fund”), a client account over which it has discretionary trading authority, expired without being exercised. Following the expiry of the warrants, Sun Valley exercises control and direction over an aggregate of 26,300,000 common shares of Sarama and 1,850,000 common share purchase warrants of Sarama, in each case for and on behalf of the Master Fund.
The 26,300,000 common shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund represent approximately 14.47% of the issued and outstanding common shares of Sarama. If exercised, the 1,850,000 warrants over which Sun Valley exercises control and direction for and on behalf of the Master Fund would, together with such shares, represent approximately 15.33% of the issued and outstanding common shares of Sarama (after giving effect to the exercise of such warrants, but not the exercise of any other warrants issued by Sarama).
Sun Valley or the Master Fund may increase or decrease their ownership of securities of Sarama depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY AND THE MASTER FUND UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:
Linda J. Kish,
Chief Legal Officer, Sun Valley Gold LLC
Tel: (208) 726-2399
Fax: (208) 726-0842