Sable Announces Closing of C$12.5 Million Bought Deal Private Placement
Sable Announces Closing of C$12.5 Million
Bought Deal Private Placement
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
June 15, 2021
/CNW/ - Sable Resources Ltd. ("
Sable
" or the "
Company
")
(TSXV: SAE) is pleased to announce that it has closed its previously announced private placement
for total gross proceeds of approximately
C$12.5 million
(the "
Offering
"). The Offering was
conducted by Sprott Capital Partners LP and Eight Capital, as co-lead underwriters (the "
Co-Lead
Underwriters
") and PI Financial Corp. (referred to collectively as the "
Underwriters
"). In connection
with the Offering, the Company has issued 41,666,600 common shares of the Company ("
Common
Shares
") at a price of
C$0.30
per Common Share (the "
Issue Price
").
The net proceeds from the sale of the Common Shares will be used by the Company for exploration
and general corporate and working capital purposes.
In connection with the Offering, the Company paid the Underwriters a cash commission of 6.0% of
the gross proceeds of the Offering and issued to the Underwriters compensation warrants (the
"
Compensation Warrants
") equal to 3.0% of the number of Common Shares sold pursuant to the
Offering. Each Compensation Warrant is exercisable to acquire one Common Share at the Issue
Price until
June 15, 2023
.
The Common Shares and Compensation Warrants issued pursuant to the Offering, and any
securities issued upon the exercise of the Compensation Warrants, are subject to a four month hold
period pursuant to applicable securities laws. The Offering remains subject to final approval of the
TSX Venture Exchange ("
TSXV
"). The TSXV has conditionally approved the listing of all Common
Shares issuable under the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal
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 (128,992 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.
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. In particular, this release contains forward-looking information
relating to, among other things, the receipt of regulatory approvals, the use of proceeds from the
Offering and the listing of the Common Shares on the TSX Venture Exchange.
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 at [email protected] or
+1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 14:37e 15-JUN-21