Sarama Resources Ltd. has announced it has secured binding commitments for an upsized placement to raise A$2.7 million before costs. The placement involves the issuance of new CDIs, with members of Sarama's Board and Management participating as related parties. Subject to shareholder approval, Sarama will issue one free attaching unlisted option for every three new CDIs issued, exercisable at A$0.09 and expiring on November 30, 2028. The Powerhouse Group of Companies supported the fundraising, with Powerhouse Advisory Australia Pty Ltd acting as the lead manager. Additionally, the company is making progress on its fully funded arbitration claim against the Government of Burkina Faso and its acquisition of Mt Venn.
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