MMR Exploration Limited Announces Acquisition of Shares in Sama Resources Inc.
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
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%).
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SOURCE Minmetals Resources Limited
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