SUN VALLEY, Idaho, April 30, 2019 (GLOBE NEWSWIRE) -- Sun Valley Gold LLC (“Sun Valley”) announced today that it has acquired control and direction over 20,000,000 common shares (“Common Shares”) of Sarama Resources Ltd. (“Sarama”) for and on behalf of Sun Valley Gold Master Fund, Ltd. (the “Master Fund”), a client account over which it has discretionary trading authority. The Common Shares were acquired pursuant to a private placement on April 29, 2019 for a purchase price of $0.085 per share.
Following completion of the private placement, Sun Valley exercises control and direction over an aggregate of 46,300,000 Common Shares, in each case for and on behalf of the Master Fund. The 46,300,000 Common Shares over which Sun Valley exercises control and direction for and on behalf of the Master Fund represent approximately 18.48% of the issued and outstanding Common Shares.
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