Sarama Completes Tranche 3 Placement & ASX Cleansing Notice

Executive Summary

• Sarama Resources completed the third tranche of its A$2.7 million equity placement, raising A$100,000 by issuing 3,333,333 CDIs at A$0.03 each and accompanying options.
• Total proceeds from all three tranches amount to approximately A$2.7 million, which will fund exploration at the Cosmo Gold Project and support general working capital, including an arbitration claim against Burkina Faso.
• The placement involved related‑party participation (directors/officers) and is subject to TSXV final approval and a four‑month hold period on issued securities.

Key Details

• Tranche 3 Proceeds: A$100,000 raised via 3,333,333 CHESS Depositary Interests (CDIs) at A$0.03 per CDI.
• Placement Options (Tranche 3): 1,111,111 free‑attaching unlisted options, exercisable at A$0.09, expiring 30 Nov 2028; issued to director Andrew Dinning.
• Tranche 1 Summary: Completed 9 Jul 2025; gross proceeds A$2,600,000 from issuance of 86,666,667 CDIs at A$0.03 each.
• Tranche 2 Summary: Completed 7 Oct 2025; included 28,888,889 free‑attaching unlisted options and 19,166,666 broker options, each exercisable at A$0.09, expiring 30 Nov 2028.
• Total Placement Size: A$2.7 million across three tranches.
• Use of Proceeds: Primarily for exploration (infill soil geochemistry and maiden drilling at the Cosmo Gold Project, WA) and general working capital, including funding the arbitration claim against the Government of Burkina Faso.
• Related‑Party Participation: Directors/officers subscribed to a total of 4,999,999 CDIs (including those issued to Mr. Dinning). These are “related party transactions” under MI 61‑101 but exempt from formal valuation/minority approval because participation is <25% of market cap.
• Hold Periods: TSXV four‑month hold period applies to CDIs issued to management and Mr. Dinning; no hold periods for other subscribers located outside Canada.
• Regulatory Notices: Placement securities not registered under U.S. Securities Act; notice filed under s 708A(5)(e) of the Corporations Act confirming compliance with disclosure obligations.
• Approval Status: Subject to final TSXV approval; material change report to be filed within 21 days prior to completion for related‑party participation.

Notable Quotes

(No direct quotes were provided in the release.)