Sable Resources Ltd. to Complete Share Consolidation
PRESS RELEASE FOR IMMEDIATE RELEASE
Sable Resources Ltd. to Complete Share Consolidation
Vancouver, British Columbia, Canada, August 6, 2014
Sable Resources Ltd. (TSX.V – SAE) (the “Company”) announces that the TSX Venture Exchange (the “Exchange”) has approved the Company’s share consolidation on the basis of one (1) postconsolidation common share for every ten (10) pre-consolidation common shares (the “Share Consolidation”). The Share Consolidation will be completed effective August 7, 2014 (the “Effective Date”). The Share Consolidation was approved by shareholders at the Company’s Annual and Special General Meeting held on June 30, 2014. The Company’s common shares will begin trading on the Exchange on a consolidated basis at the market open on Thursday, August 7, 2014. The new CUSIP for the Company’s post-consolidation common shares is 785713306. The 31,806,750 pre-consolidation common shares of the Company will be reduced to approximately 3,180,675 post-consolidation common shares. If the Share Consolidation would otherwise result in the issuance of a fractional common share, no fractional common shares will be issued and any fractional shares will be converted into whole common shares. Each fractional common share remaining after consolidation that is less than one-half of a common share will be cancelled and each fractional common share that is at least one-half of a common share will be changed to one (1) whole common share. The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Share Consolidation.
The Company has retained its transfer agent, Computershare Investor Services Inc. (“Computershare”) to act as the exchange agent for the Share Consolidation. Shareholders of record as at the Effective Date will receive a letter of transmittal providing instructions for the exchange of their common shares as soon as practicable following the Effective Date. To receive share certificates representing the postconsolidation common shares, registered shareholders will be required to send their share certificates representing pre-consolidation common shares, along with a properly executed letter of transmittal, to Computershare, in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal may be obtained from Computershare by calling 1-800-564-6253. Non-registered shareholders who own common shares in book-entry form do not need to take any actions to exchange their pre-consolidation book-entry common shares for post-consolidation common shares. Upon the Effective Date, each then existing book-entry account will be adjusted to reflect the number of post-consolidation common shares to which the non-registered shareholder is entitled.
About Sable Resources Ltd
Since 1989, Sable has focused on the Toodoggone Gold/Silver Project - mining and producing gold and silver from the Shasta and Baker properties. Operations have been from surface workings and underground developments on both properties. The mine and mill are fully-permitted by the Province of British Columbia.
Mineral processing takes place at the 200 ton-per-day Baker Mill. The Baker Mill was commissioned for DuPont of Canada in 1980 by Kilborn Engineering (Vancouver). The mill allows the production of either a flotation concentrate to be exported for additional refining, or on-site production of gold and silver dore bars.
Melvyn Rahal, President & C.E.O.
[email protected] Tel: (604) 986-8566 Or visit http://www.sableresources.com/
Neither the TSX Venture Exchange nor its Regulator Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release.