Sama Resources Inc./Ressources Sama Inc.
TSX Venture Symbol: SME
SAMA RESOURCES INC./RESSOURCES
SAMA INC.
Suite 132, 1320 Graham
Ville Mont-Royal, Québec
Canada, H3P 3C8
NR 2021-03
Acquisition of Sama Resources Development Corp.
(Cayman) by Seahawk Gold
Montréal, Quebec, May 5th, 2021 – Sama Resources Inc. (“Sama” or the “Company”) (TSX-V:
SME | OTC -PK: SAMMF) is pleased to announce that it has entered into an agreement with
Seahawk Gold Corp. (CSE: SHV | OTCQX: SEHKF ) ("Seahawk") for the acquisition of Sama's
subsidiary Sama Resources Development Corp. (Cayman) ("Sama Cayman") which holds 100%
of the issued and outstanding securities of Sama Resources Liberia Inc. ("Sama Liberia")..
In consideration for the purchase of Sama Cayman, Seahawk will issue 8,500,000 of its common
shares to Sama (the " Consideration Shares "), which will result in Sama holding 20.8% of
Seahawk's outstanding shares following the issuance of the Consideration Shares.
“We are extremely pleased to be a significant shareholder within such a well-structured vehicle.
Much like the spinout of the Guinean assets to SRG Mining Inc. (TSX -V: SRG) in 2017, the
Seahawk transaction affords Sama the luxury of having significant equity exposure to high quality
assets while maintaining our near zero dilution model & simultaneously maintaining our focus on
the Nickel-Copper-Palladium district in partnership with HPX in Côte d’Ivoire, West Africa.” stated
Dr. Marc-Antoine Audet President, CEO & Director of Sama Resources Inc.
"Seahawk is very pleased with enhancing its portfolio of exploration assets with this latest
acquisition, and looks forward to working with the Sama team to close the transacti on and to
discuss opportunities for Seahawk and Sama to collaborate in the further exploration of the
Projects " Stated Giovanni Gasbarro CEO & Director of Seahawk Gold Corp.
The Consideration Shares will be subject to a four month hold period from closing under
applicable Canadian securities laws in addition to other resale restrictions which will apply to
Sama as long as it remains a "control person" of Seahawk. Additionally, Sama elects that the
Consideration Shares be held in certificate form.
The transaction is subject to various closing conditions, including the satisfactory completion of
due diligence by Seahawk, and all applicable shareholder, regulatory and stock exchange
approvals for the Transaction having been received by the relevant parties
Seahawk and Sama intend to discuss the potential provision of exploration and other services by
Sama to Seahawk in respect of the Projects following closing, which if agreed to will be the subject
of separate agreements between Seahawk and Sama.
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ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration and development company with projects in West
Africa. On October 23, 2017, Sama announced that it had entered into a binding term sheet in
view of forming a strategic partnership with HPX TechCo Inc., a private mineral exploration
company in which mining entrepreneur Robert Friedland is a significant stakeholder, in order to
develop its Côte d’Ivoire Nickel-Copper-Palladium project in Côte d’Ivoire, West-Africa. For more
information about Sama, please visit Sama’s website at http://www.samaresources.com.
About Seahawk Gold Corp.
Seahawk Gold Corp. is a publicly traded gold asset acquisition corporation, focused on 100%
owned gold properties in some of the world’s most prolific gold producing districts; including the
Touchdown, Blitz, Mystery, SkyX & Xtra Point properties located in the Urban-Barry Greenstone
Belt of the Abitibi sub province specifically within Quebec, Canada. For more information about
Seahawk, please visit the Company’s website at https://www.seahawkgoldcorp.com/
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Forward-Looking Statements
Certain of the statements made and information contained herein are "forward -looking
statements" or “forward-looking information” within the meaning of Canadian securities legislation.
Forward-looking statements and forward -looking information such as “evi dence”, “potential”,
“appears”, “seems”, “suggest”, are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the forward -looking statements or
forward-looking information, including, without limitation, the availability of financing for activities,
risks and uncertainties relating to the interpretation of drill results and the estimation of mineral
resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that
future exploration, development or mining results will not be consistent with the Company's
expectations, metal price fluctuations, environmental and regulatory requirements, availability of
permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents,
equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in
exploration or development, the potential for delays in exploration or development activities, the
inherent uncertainty of cost estimates and the potential for unexpected costs and expenses,
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commodity price fluctuations, currency fluctuations, expectations and beliefs of management and
other risks and uncertainties.
In addition, forward -looking statements and f orward-looking information are based on various
assumptions. Should one or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those described
in forward-looking information or forward -looking statements. Accordingly, readers are advised
not to place undue reliance on forward-looking statements or forward-looking information. Except
as required under applicable securities legislation, the Company undertakes no obligatio n to
publicly update or revise forward -looking statements or forward-looking information, whether as
a result of new information, future events or otherwise.