Sarama Resources Announces Grant of Stock Options

TSX-V Ticker: SWA
SWA.WT

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.

For further information on the Company's activities, please contact:

Andrew Dinning
email:  info@saramaresources.com
telephone: +61 8 9363 7600
web:   www.saramaresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE Sarama Resources Limited



More by this Source

Best of Content We Love 2014 


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.