The TSX Venture Exchange has accepted the notice for filing for a plan of arrangement of Sama Resources Inc. in connection with the spinout to Sama shareholders of Sama's wholly owned subsidiary, SRQ Resources Inc. Pursuant to the arrangement, Sama shareholders are entitled to receive, in exchange for each Sama share held prior to the arrangement, one common share of Sama and one-10th of one common share of SRQ.

The new Sama shares will be listed and admitted to trading on the exchange on the effective dates stated below in substitution for the currently listed common shares of Sama. At the same time, the common shares of Sama will be delisted. The new Sama shares will continue trading under the name Sama Resources and the symbol SME.

Listing date of the new Sama shares:  at the close of business (5:01 p.m. EDT) on Tuesday, Aug. 15, 2023

Trading commencement date:  The new Sama shares will commence trading on the exchange at the opening of business on Wednesday, Aug. 16, 2023.

The closing of the arrangement described below occurred on Aug. 10, 2023.

The following events occurred on the closing date of the arrangement (among other events fully described in the arrangement agreement dated as of May 17, 2023):

• Sama shareholders received one new common share for each common share of Sama held prior to the arrangement. The new Sama shares have terms identical to those of the Sama common shares immediately prior to giving effect to the arrangement.
• Sama distributed to the Sama shareholders 0.1 of an SRQ common share for each Sama common share held prior to the arrangement.

To receive the SRQ shares and new Sama shares under the arrangement, each registered shareholder of Sama must complete, sign, date and return the letter of transmittal, which was referenced in Sama's management information circular dated May 29, 2023, and made available on the Sama's SEDAR+ profile on June 28, 2023. The letter of transmittal is for use only by registered shareholders of Sama. Shareholders whose Sama shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other nominee should contact that nominee for assistance in depositing those common shares and should follow the instructions of such nominee in order to deposit their new Sama shares and their SRQ common shares.

Sama postarrangement

Corporate jurisdiction:  Canada

Capitalization:  unlimited common shares with no par value, of which 219,768,440 common shares issued and outstanding

Escrow:  nil shares

Transfer agent:  Computershare Investor Services Inc. (Vancouver)

Trading symbol:  SME (unchanged)

Cusip No.:  79588X 10 1 (new)

For further information about the arrangement, please refer to the company's management information circular dated May 29, 2023, available on SEDAR+.

For more information on the listing of SRQ shares on the exchange, please refer to the SRQ listing application dated Aug. 11, 2023, available on SEDAR+ under the profile of SRQ and to the exchange's bulletin about the new listing of SRQ shares dated Aug. 14, 2023, available on the exchange's website.