SUN VALLEY, Idaho, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Sun Valley Gold LLC (“Sun Valley”) announced today that it has disposed of an aggregate of 2,500,000 common shares (“Common Shares”) of Sarama Resources Ltd. (“Sarama”) for and on behalf of Sun Valley Gold Master Fund, Ltd. (the “Master Fund”), a client account over which it has discretionary trading authority. The Common Shares were sold over the facilities of the TSX Venture Exchange on November 15, 2023 for $0.01 per share.
Following the disposition, Sun Valley exercises control and direction over an aggregate of 12,933,333 Common Shares for and on behalf of the Master Fund. The Common Shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 8.19% of the issued and outstanding Common Shares. Because Sun Valley now exercises control and direction over less than 10% of the issued and outstanding Common Shares, it is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.
Sun Valley sold the Common Shares as part of its overall portfolio investment strategy. Sun Valley Fund may increase or decrease its ownership of securities of Sarama depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:
Linda J. Kish,
Chief Legal Officer, Sun Valley Gold LLC
Tel: (208) 726-2399
Fax: (208) 726-0842
