MMR Exploration Limited Announces Acquisition of Shares in Sama Resources Inc.
18.05.2012 | CNW
MELBOURNE, Australia, May 17, 2012 /CNW/ - MMR Exploration Limited ("MMR Exploration"), a wholly-owned subsidiary of Minmetals Resources Limited, announces that, on May 17, 2012, it entered into an agreement to acquire an additional 7,337,324 common shares of Sama Resources Inc. ("Sama") on a private placement basis for Cdn$0.60 in cash per share, or Cdn$4,402,394.40 in the aggregate. Sama is listed on the TSX Venture Exchange (the "TSXV") and the private placement is subject to the approval of the TSXV and other customary conditions. The private placement is expected to be completed on or about May 23, 2012.The common shares of Sama were acquired by MMR Exploration for investment purposes. MMR 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, MMR Exploration will hold 11,404,009 common shares of Sama, representing approximately 15.5% of the outstanding common shares of Sama (19.9% on a diluted basis including the 4,066,685 warrants to purchase common shares of Sama previously acquired by MMR Exploration).
Additional details regarding the arrangements entered into between Sama and MMR Exploration in connection with the private placement will be contained in an early warning report filed by MMR Exploration pursuant to Canadian securities laws under Sama's profile at www.sedar.com. A copy of the report can be obtained from MMR at the contact information noted below.
About Minmetals Resources Limited
Minmetals Resources Limited (MMR) is a mid-tier global resources company that mines, explores and develops base metal projects in Australia, and around the world. The company is headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange under Stock Code: 1208. MMR owns the MMG group of companies and their operations after acquiring them on 31 December 2010.
MMR is uniquely positioned with an experienced international management team, public ownership on the Hong Kong stock exchange (28.28%) and support of its ultimate controlling shareholder China Minmetals Corporation (71.72%).
Media enquiries:
Sally Cox Group Manager - Communications
T +61-3-9288-0850
M +61-417-144-524
E sally.cox@mmg.com
Kathleen Kawecki
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E maggie.qin@mmg.com
Investor enquiries:
Colette Campbell
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E colette.campbell@mmg.com
Chinese language investor and media enquiries:
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Ekathleen.kawecki@mmg.com
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