Sable Private Placement Over-Subscribed and Upsized to C$9 Million
Sable Private Placement Over-Subscribed and
Upsized to C$9 Million
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES
OR FOR DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
Aug. 17, 2020
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) is pleased to announce that further to its press release of
August 13, 2020
, that due to
significant interest in the private placement that the Company has agreed with Sprott Capital
Partners LP as lead agent on behalf of a syndicate of one or more additional agents (referred to
collectively as the "Agents") to increase the size of the "best efforts" private placement financing up
to 60,000,000 units of the Corporation ("Units") at a price of
C$0.15
per Unit (the "Unit Price") for
aggregate gross proceeds of up to
C$9 million
(the "Upsized Offering"). Each Unit will consist of
one common share of the Company (a "Common Share") and one half of one common share
purchase warrant (each whole common share purchase warrant, a "Warrant"). Each whole Warrant
will entitle the holder thereof to purchase one Common Share at an exercise price of
C$0.20
for a
period of 36 months from the date of issuance thereof. All other terms of the offering remain the
same.
"With our recent work defining a large footprint of high-grade mineralisation at El Fierro, this strong
interest from both institutional and retail investors firmly supports our decision to advance
aggressively to drill phase at this project," stated
Ruben Padilla
, President & CEO, who added,
"These additional funds will also allow us to fast track our adjacent large scale vein projects in San
Juan,
Argentina
, one
South America's
most highly-rated mining jurisdictions."
The Upsized Offering is expected to close on or about
September 10, 2020
, and is subject to certain
closing conditions including, but not limited to, the receipt of all necessary approvals including the
conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory
authorities. The securities issued under the Offering will be subject to a four month hold period from
the date of issue in accordance with applicable securities laws. Insiders of the Company may
subscribe for Units in the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended,
and may not be offered or sold in
the United States
absent registration or an applicable exemption
from the registration requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
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 stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San
Juan Regional Prograchm (68,718ha) incorporating the Don Julio Project and the El Fierro Project in
San Juan Province,
Argentina
; the Mexico Regional Program (1.16Mha in application, 39,000ha
titled) incorporating the Margarita, Vinata and El Escarpe projects; and the Scorpius Project in
Ayacucho,
Peru
.
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. In particular, this release contains forward-looking information
relating to, among other things, the timing for closing of the Upsized Offering, the receipt of
regulatory approvals, the use of proceeds from the Offering, 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 07:00e 17-AUG-20