Sable Resources Ltd. Announces Closing of Private Placement
Sable Resources Ltd. Announces Closing of
Private Placement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE
UNITED STATES OF AMERICA
/
TORONTO
,
May 15, 2019
Sable Resources Ltd. (TSXV: SAE) (the "
Company
" or "
Sable
") is
pleased to announce that it has closed the first tranche of a non-brokered private placement (the
"
Offering
") pursuant to which it has issued 5,753,333 units ("
Units
") at a price of
$0.15
per Unit to
raise aggregate gross proceeds of approximately
$863,000
. Each Unit consists of one common
share of the Company and one-half of one share purchase warrant (each whole such share
purchase warrant, a "
Warrant
"). Each Warrant entitles the holder to acquire one additional common
share of the Company at an exercise price of
$0.25
until the date which is two years from the
closing date of the Offering.
The Offering remains subject to the final approval of the TSX Venture Exchange. All securities
issued and issuable in connection with the Offering are subject to a statutory hold period expiring on
September 15, 2019
.
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. Sables' main focus is developing their large portfolio of new greenfields projects to
resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San
Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan
Province, Argentina, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata
and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha)
incorporating the drill ready Tulox Project.
Forward-Looking Statements
This news release contains certain forward-looking information and statements within the meaning
of applicable securities laws. The use of any of the words "expect", "anticipate", "continue",
"estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify forward-looking information and/or statements. Forward-
looking statements and/or information are based on a number of material factors, expectations
and/or assumptions of Sable which have been used to develop such statements and/or information
but which may prove to be incorrect. Although Sable believes that the expectations reflected in
such forward-looking statements and/or information are reasonable, undue reliance should not be
placed on forward-looking statements as Sable can give no assurance that such expectations will
prove to be correct. In addition to other factors and assumptions which may be identified herein,
assumptions have been made regarding, among other things, the receipt of final regulatory
approvals for the Offering. The forward-looking information and statements included in this news
release are not guarantees of future performance and should not be unduly relied upon. Such
information and/or statements, including the assumptions made in respect thereof, involve known
and unknown risks, uncertainties and other factors that may cause actual results and/or events to
differ materially from those anticipated in such forward-looking information and/or statements
including, without limitation the uncertainty of obtaining all applicable regulatory approvals, and/or
certain other risks detailed from time-to-time in Sable's public disclosure documents. Furthermore,
the forward-looking statements contained in this news release are made as at the date of this news
release and Sable does not undertake any obligations to publicly update and/or revise any of the
included forward-looking statements, whether as a result of additional information, future events
and/or otherwise, except as may be required by applicable securities laws.
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 and/or accuracy
of this release.
SOURCE
Sable Resources Ltd.
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%SEDAR: 00008665E
For further information:
Tom Obradovich, President & Chief Executive Officer,
[email protected], Tel (416) 985-7140, Or visit http://www.sableresources.com
CO: Sable Resources Ltd.
CNW 10:22e 15-MAY-19