Wire Services Sable Resources Closes C$500,000 Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES
SABLE RESOURCES CLOSES C$500,000
NON-BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia, June 29, 2017 – Sable Resources Ltd. (NEX: SAE.H) – (the
"Company" or “Sable”) has closed its previously announced non -brokered private placement,
pursuant to which the Company has issued 2,500,000 “flow-through” units (the “Units”) at a
price of C$0.20 per Unit, for aggregate gross proceeds of C$500,000 (the “Offering”).
Each Unit consists of one “flow -through” common share of the Company and one common
share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one
common share of the Company (which will not be a “flow -through” common share) at an
exercise price of C$0.30 until June 29, 2018.
The gross proceeds of the Offering will be used by the Company to incur Canadian exploration
expenses (the “Qualifying Expenditures”) on its properties located in Canada. The Company
will renounce the Qualifying Expenditures with an effective date of not later than December 31,
2017.
Pursuant to Canadian securities laws, any securities issued in the Offering will be subject to a
hold period of four months plus one day from the date of issuance.
Two directors (one of which is also an officer) , acquired an aggregate of 125,000 Units.
Pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special
Transactions, the Company notes that it has not filed a material change report 21 days prior to
the expected closing date of the Offering. A shorter period was reasonable and necessary in the
circumstances as the Company wished to complete the Offering in a timely manner following
receipt of required regulatory approval.
About Sable Resources Ltd.
Sable owns the Baker gold project comprising 66 square kilometers of mineral tenure and mining leases,
including the past producing Baker and Shasta mines, and the 250 ton- per-day Baker mill and tailings facility.
The project is located in north-central British Columbia, Canada and is road accessible.
For more information:
Tom Obradovich, President & CEO
Tel (416) 985-7140
Or visit http://www.sableresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Vent ure Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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This news release contains forward- looking information within the meaning of applicable
securities legislation. Forward-looking information is typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. Such statements include, without limitation,
statements regarding the future results of operations, performance and achievements of the
Company, use of proceeds, renunciation of Qualifyi ng Expenditures and advancement of the
Company’s properties. Although the Company believes that such statements are reasonable, it
can give no assurances that such expectations will prove to be correct. All such forward-looking
information is based on certain assumptions and analyses made by the Company’s
management in light of their experience and perception of historical trends, current conditions
and expected future developments, as well as other factors management believes are
appropriate in the circumstances. Important factors that could cause actual results to differ from
this forward-looking information include that fact that mineral exploration involves a high degree
of risk and is highly speculative in nature, few properties that are explored are ultimately
developed into producing mines, geological factors, the actual results and timing of current and
proposed future exploration programs, changes in project parameters as plans continue to be
evaluated, as well as those factors described under the heading "Risk Factors” in the
Company’s most recently filed management’s discussion and analysis. The Company
undertakes no obligation to update or reissue forward- looking information as a result of new
information or events, except as required by applicable securities laws. Readers are cautioned
not to place undue reliance on forward-looking information.
This news release does not constitute an offer to purchase securities. The securities offered in
the Offering have not been and will not be registered under the United States Securities Act of
1933, as amended, or any state securities laws and may not be offered or sold in the United
States or to, or for the benefit or account of, a U.S. person, except pursuant to an available
exemption from such registration requirements.