Sarama Resources Closes Initial Tranche of A$2.7m Equity Placement

Sarama Resources Ltd. has completed the first tranche of its A$2.7 million equity placement, raising A$2,600,000 through the issuance of 86,666,667 Chess Depository Instruments (CDIs) at A$0.03 each. The placement aims to support exploration activities and general working capital for the Cosmo Gold Project in Western Australia. A second tranche will offer options and directors' CDIs pending shareholder approval in September 2025.

The funds are intended for advancing geochemical analysis and the maiden drilling campaign. Sarama's board and management have personally invested in the placement, totaling 4,999,999 CDIs. While existing shareholders and new investors participated, TSX Venture Exchange approval for the placement remains pending.