IFC Increases Its Investment in Sama Resources

WASHINGTON, D.C., Dec. 16, 2014 /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 570,000 Canadian dollars in Sama will result in IFC acquiring 2,590,909 units of the up to 10,000,000 units being offered by Sama to IFC and other investors. Each unit is composed of one common share and one warrant. Each whole warrant entitles the holder to purchase one common share of Sama at an exercise price of 0.28 Canadian dollars per common share for a period of two year following the closing of the offering. The issue price per unit is 0.22 Canadian dollars.

It is expected that upon completion of the subscriptions to IFC and the other investors (assuming all shares offered under the offering are subscribed for) there will be 103,224,787.00 Sama common shares outstanding of which IFC will acquire approximately 2.5% of the outstanding Sama common shares (or approximately 4.9% of the outstanding Sama common shares assuming IFC exercises all of the warrants it will acquire under this offering).  IFC will, upon completion of the subscription, have ownership and control over 13,059,163 Sama common shares and 6,559,163 warrants of Sama.  Therefore, immediately upon the closing of these subscriptions, it is expected (assuming all shares offered under the offering are subscribed for) that IFC will directly hold approximately 12.7% of Sama's outstanding share capital and approximately 17.85% 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 December, 2014.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit www.ifc.org.

SOURCE: International Finance Corporation

In Washington, D.C.: Serene Jweied, Phone: [phone], E-mail: [email protected]