Sable Adopts Shareholders Rights Plan and Announces Annual & Special Meeting of Shareholders
Sable Adopts Shareholders Rights Plan and
Announces Annual & Special Meeting of
Shareholders
VANCOUVER, BC
,
July 18, 2022
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV:
SAE) (OTCQB: SBLRF) announces that it has entered into a shareholder rights plan agreement
(the "Plan") with TSX Trust Company as rights agent effective
July 18
, 2022. The Plan is similar to
rights plans adopted by other Canadian public companies and has not been adopted in response to
any pending or threatened takeover bid for the Company nor is the Company aware of any such
effort. Rather, the Plan has been adopted with a view to ensuring, to the extent possible, that all
shareholders of the Company have an equal opportunity to participate in, and are treated fairly in the
event of a "creeping takeover bid" for the Company. Creeping takeover bids, which were not
addressed in
Canada's
takeover bid regime updated in
May 2016
, occur where acquisition of
effective control takes place through a number of share purchases over time.
While the Plan is effective immediately, it is subject to ratification by the Company's shareholders
within six months of its adoption. The Company will be seeking shareholder ratification of the Plan at
the annual and special meeting of its shareholders which is scheduled to be held
August 17, 2022
(the "Meeting"). A summary of the principal terms of the Plan will be described in the management
information circular being sent to all Sable shareholders in connection with the Meeting and a
complete copy of the Plan will be made available for viewing under the Company's profile on SEDAR
at
www.sedar.com
.
Under the Plan, one right (a "Right") has been issued in respect of each issued and outstanding
common share of Sable as of
12:01 a.m.
on
July 18, 2022
and one Right will also be issued and
attach to each subsequently issued common share. These Rights will only become exercisable if a
person (an "Acquiring Person"), including affiliates and associates and persons acting jointly or in
concert with such person ("Related Persons"), becomes the beneficial owner of 20% or more of the
outstanding common shares of the Company without complying with the "permitted bid" provisions of
the Plan or, in certain circumstances, without the approval of the Company's board of directors. In
such event, holders of common shares, other than the Acquiring Person and any Related Persons,
will be entitled to exercise their Rights and purchase common shares of the Company at a
substantial discount to the then market price of the Company's common shares.
The Plan is scheduled to expire at the close of business on the date of the Company's annual
meeting of shareholders to be held in in 2025, unless terminated earlier in accordance with the terms
of the Plan.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal
and copper projects through systematic exploration in endowed terranes located in favorable,
established mining jurisdictions. Sable's main focus is developing its large portfolio of new
greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program
(163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, and Los Pumas Projects in San Juan
Province,
Argentina
; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled)
incorporating the Vinata and El Escarpe projects.
Related link:
sableresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in
the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of
this release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking information. These
statements relate to future events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information
and are based on Sable's current belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. Although such statements are based on
reasonable assumptions of Sable's management, there can be no assurance that any conclusions or
forecasts will prove to be accurate.
While Sable considers these assumptions to be reasonable based on information currently available,
they may prove to be incorrect. Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements to
be materially different from any future results, performance or achievements expressed or implied by
the forward-looking information. Such factors include risks inherent in the exploration and
development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to
changes in mineral prices and the worldwide demand for and supply of minerals, risks related to
increased competition and current global financial conditions and the COVID-19 pandemic, access
and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks
relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity
risks.
The forward-looking information contained in this release is made as of the date hereof, and Sable is
not obligated to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly qualify any forward-looking
information contained herein.
SOURCE
Sable Resources Ltd.
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%SEDAR: 00008665E
For further information:
Ruben Padilla, President & CEO, [email protected] or
+1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 07:00e 18-JUL-22