IFC Increases Its Investment in Sama Resources

WASHINGTON, D.C., May 9, 2013 /CNW/ - IFC, a member of the World Bank Group, today agreed to increase its investment in Sama Resources Inc. ("Sama").

IFC's investment of approximately 1,300,000 Canadian dollars in Sama will result in IFC acquiring 6,500,000 units of the 12,825,000 units being offered by Sama to IFC and other investors. Each unit is composed of one common share and one half of one warrant. Each whole warrant entitles the holder to purchase one common share of Sama at an exercise price of 0.30 Canadian dollars per common share for a period of one year following the closing of the offering. The issue price per unit is 0.20 Canadian dollars.

It is expected that upon completion of the subscriptions to IFC and the other investors there will be 86,550,498 Sama common shares outstanding of which IFC will acquire approximately 7.5% of the outstanding Sama common shares (or approximately 10.9% of the outstanding Sama common shares assuming IFC exercises all of the warrants it will acquire under this offering).  In December, 2011 IFC acquired 3,968,254 common shares and 3,968,254 warrants of Sama and will, upon completion of the subscription, have ownership and control over 10,468,254 Sama common shares and 7,218,254 warrants of Sama.  Therefore, immediately upon the closing of these subscriptions, it is expected that IFC will directly hold approximately 12.1% of Sama's outstanding share capital and approximately 18.9% of the Sama's outstanding share capital assuming the exercise of all of IFC's warrants.

IFC is acquiring its units for investment purposes by way of private placement pursuant to the terms of an equity and warrant subscription agreement containing customary terms and conditions as well as certain rights including, without limitation, information, policy and pre-emptive rights. The equity and warrant subscription agreement will be filed with the Canadian securities regulators and will be available on www.sedar.com under Sama's profile. IFC may, in the future, take such actions in respect of its holdings as IFC deems appropriate in light of the circumstances then existing.

The transaction is expected to close in May, 2013.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.

International Finance Corporation's headquarters are located at 2121 Pennsylvania Avenue, N.W., Washington, D.C., 20433, U.S.A.

IFC is an international organization established by Articles of Agreement among its member countries, including Canada, and as such, enjoys certain immunities, privileges and exemptions, including the freedom of all of its property and assets from restrictions, regulations, controls and moratoria of any nature.  The voluntary provision by IFC of this news release does not in any way constitute or imply a waiver, termination or modification by IFC of any privilege, immunity or exemption of IFC granted in the Articles of Agreement establishing IFC, international conventions, or applicable law.

SOURCE: International Finance Corporation

In Washington:
Josef Skoldeberg
Phone: [phone]
E-mail: [email protected]