/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, BC, June 15, 2021 /CNW/ - Sable Resources Ltd.
("Sable" or the "Company") (TSXV: SAE) is pleased to
announce that it has closed its previously announced private
placement for total gross proceeds of approximately C$12.5 million (the "Offering"). The
Offering was conducted by Sprott Capital Partners LP and Eight
Capital, as co-lead underwriters (the "Co-Lead
Underwriters") and PI Financial Corp. (referred to collectively
as the "Underwriters"). In connection with the Offering, the
Company has issued 41,666,600 common shares of the Company
("Common Shares") at a price of C$0.30 per Common Share (the "Issue
Price").
The net proceeds from the sale of the Common Shares will be used
by the Company for exploration and general corporate and working
capital purposes.
In connection with the Offering, the Company paid the
Underwriters a cash commission of 6.0% of the gross proceeds of the
Offering and issued to the Underwriters compensation warrants (the
"Compensation Warrants") equal to 3.0% of the number of
Common Shares sold pursuant to the Offering. Each Compensation
Warrant is exercisable to acquire one Common Share at the Issue
Price until June 15, 2023.
The Common Shares and Compensation Warrants issued pursuant to
the Offering, and any securities issued upon the exercise of the
Compensation Warrants, are subject to a four month hold period
pursuant to applicable securities laws. The Offering remains
subject to final approval of the TSX Venture Exchange
("TSXV"). The TSXV has conditionally approved the listing of
all Common Shares issuable under the Offering.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or
sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
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 level. Sable is
actively exploring the San Juan Regional Program (128,992 ha)
incorporating the Don Julio, El Fierro, La Poncha, and Los Pumas
Projects in San Juan Province, Argentina; and the Mexico Regional Program
(1.16Mha in application, 39,000ha titled) incorporating the Vinata
and El Escarpe projects.
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
receipt of regulatory approvals, the use of proceeds from the
Offering and 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.