Sarama Resources Announces Grant of Stock Options
TSX-V Ticker: SWA
VANCOUVER, Jan. 31, 2013 /PRNewswire/ - The Board of Directors of Sarama Resources Ltd. ("Sarama" or the "Company") has granted 1,005,000 options to 11 employees, directors and officers of the Company. The option grant is the result of the Company's annual compensation review and the issuance is made under the stock option plan of the Company. This plan was approved by shareholders on June 5, 2012 and allows the Company to issue a number of options up to 10% of its rolling issued and outstanding common shares. The options have an exercise price of $0.80 and are exercisable for a period of 5 years from the date of the grant thereof and vest over a 12-month period. The 5-day volume weighted average price ("VWAP") was $0.67 and the closing price for the Company shares listed on the TSX-V as of January 30, 2013 was $0.78. Following the grant outlined herein, the Company will have options outstanding equal to 7.7% of its issued and outstanding common shares.
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SOURCE Sarama Resources Limited