Sable Announces Closing of $4.6 Million Financing
12 10월 2018 - 12:38AM
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
closed its previously announced bought deal financing, including
the exercise in full of the underwriter’s option. A total of
10,000,000 units (the “
Units”) of Sable were sold
at a price of $0.25 per Unit (the “
Issue Price”),
for aggregate gross proceeds of $2,500,000 (the
“
Offering”). Each Unit consisted 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 at any time prior to October 11,
2020. 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.
The Offering was led by Haywood Securities Inc.
as sole underwriter. In connection with completion of the Offering,
the Company paid a cash commission equal to 6.0% of the gross
proceeds of the Offering. The Company also issued non-transferrable
compensation options 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 at any time
prior to October 11, 2020.
Together with the proceeds from Sable’s
previously completed early warrant exercise incentive program (the
“Program”), the Company has raised an aggregate of
$4,595,975. 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.
All securities issued in connection with the
Offering are subject to a four-month-and-one-day statutory hold
period. 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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부터 9월(9) 2024 으로 10월(10) 2024
Sable Resources (TSXV:SAE)
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부터 10월(10) 2023 으로 10월(10) 2024