Sable Announces Bought Deal Financing and Results of Early Warrant Exercise Incentive Program, Raising Aggregate Gross Procee...
21 9월 2018 - 8:53PM
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sable Resources Ltd. (TSXV:SAE) (“
Sable” or the
“
Company”) is pleased to announce that it has
entered into an agreement with Haywood Securities Inc.
(“
Haywood”) as sole underwriter, pursuant to which
Haywood has agreed to purchase, on a "bought deal" private
placement basis, 8,000,000 units of the Company
(“
Units”) at a price of $0.25 per Unit (the
“
Issue Price”) for total gross proceeds of
$2,000,000 (the "
Offering"). Each Unit will
consist of one common share (a “
Common Share”) in
the capital of the Company and one-half of one common share
purchase warrant (each whole common share purchase warrant, a
“
Warrant”) of the Company. Each Warrant will
entitle the holder thereof to purchase one Common Share (a
“
Warrant Share”) at a price per Warrant Share of
$0.35 for a period of 24 months from the closing of the Offering.
The expiry date of the Warrants may be accelerated by the Company
at any time prior to the expiry date of the Warrants if the
volume-weighted average trading price of the Company’s common
shares is greater than $0.50 for any 20 consecutive trading days,
at which time the Company may accelerate the expiry date by issuing
a press release announcing the reduced warrant term whereupon the
Warrants will expire on the 30th calendar day after the date of
such press release. Haywood has been granted an option to purchase
up to an additional 2,000,000 Units, exercisable in whole or in
part at any time prior to the closing of Offering.
Sable is also pleased to announce that, further
to its press release dated August 27, 2018, the Company has
received gross proceeds of $2,095,975 from the exercise of
8,383,900 share purchase warrants at $0.25 per share pursuant to
its early warrant exercise incentive program (the
“Program”). As an incentive for the early exercise
of their share purchase warrants, warrant holders received an
additional 4,191,950 new share purchase warrants (each an
"Incentive Warrant"). Each Incentive Warrant
entitles the holder to purchase one common share of the Company for
a period of 36 months from the date of issuance of such Incentive
Warrant, at a price of $0.35. The Incentive Warrants are subject to
a four month hold period from the date of issuance. The balance of
the 18,821,600 warrants not exercised under the Program will remain
outstanding and continue to be exercisable for common shares of the
Company on their current terms, with an expiry date of September 8,
2019.
The net proceeds received by the Company from
the Offering and the Program will be used for exploration at the
Company’s properties in Mexico and Argentina and for working
capital and general corporate purposes.
The closing of the Offering is expected to occur
on or about October 11, 2018, and is subject to the receipt of
regulatory approvals, including the approval of the TSX Venture
Exchange. As consideration for its services, Haywood will receive a
cash commission equal to 6.0% of the gross proceeds of the
Offering. The Company will also issue non-transferrable
compensation options to Haywood in an amount equal to 6.0% of the
number of Units issued under the Offering. Each compensation option
will be exercisable into one Common Share at the Issue Price for a
period of 24 months following the closing of the Offering.
The securities offered have not been, and will
not be, registered under the U.S. Securities Act or any U.S. state
securities laws, and may not be offered or sold in the United
States or to, or for the account or benefit of, United States
persons absent registration or any applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities
in the United States, nor in any other jurisdiction.
For further information on Sable, please
contact:
Tom ObradovichPresident & Chief Executive
Officer tobradovich@sympatico.caTel (416)
985-7140www.sableresources.com
About Sable Resources Ltd.
Sable owns numerous mineral projects in British
Columbia, Canada, Mexico, and Argentina including 142 square
kilometers of mineral tenure and mining leases in the Toodoggone
mining district of north-central British Columbia which hosts the
past-producing Baker and Shasta mines, and the 250-ton-per-day
Baker mill and tailings facility. In addition to that, Sable's
activity in Argentina includes developing the Don Julio high
sulphidation epithermal project in the San Juan Province.
Sable Resources (TSXV:SAE)
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Sable Resources (TSXV:SAE)
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부터 10월(10) 2023 으로 10월(10) 2024