VANCOUVER, BC, July 18,
2022 /CNW/ - Sable Resources Ltd. ("Sable" or the
"Company") (TSXV: SAE) (OTCQB: SBLRF) announces that it has
entered into a shareholder rights plan agreement (the "Plan")
with TSX Trust Company as rights agent effective July 18, 2022. The Plan is similar to
rights plans adopted by other Canadian public companies and has not
been adopted in response to any pending or threatened takeover bid
for the Company nor is the Company aware of any such effort.
Rather, the Plan has been adopted with a view to ensuring, to the
extent possible, that all shareholders of the Company have an equal
opportunity to participate in, and are treated fairly in the event
of a "creeping takeover bid" for the Company. Creeping
takeover bids, which were not addressed in Canada's takeover bid regime updated in
May 2016, occur where acquisition of
effective control takes place through a number of share purchases
over time.
While the Plan is effective immediately, it is subject to
ratification by the Company's shareholders within six months of its
adoption. The Company will be seeking shareholder
ratification of the Plan at the annual and special meeting of its
shareholders which is scheduled to be held August 17, 2022 (the "Meeting"). A summary
of the principal terms of the Plan will be described in the
management information circular being sent to all Sable
shareholders in connection with the Meeting and a complete copy of
the Plan will be made available for viewing under the Company's
profile on SEDAR at www.sedar.com.
Under the Plan, one right (a "Right") has been issued in respect
of each issued and outstanding common share of Sable as of
12:01 a.m. on July 18, 2022 and one Right will also be issued
and attach to each subsequently issued common share. These
Rights will only become exercisable if a person (an "Acquiring
Person"), including affiliates and associates and persons acting
jointly or in concert with such person ("Related Persons"), becomes
the beneficial owner of 20% or more of the outstanding common
shares of the Company without complying with the "permitted bid"
provisions of the Plan or, in certain circumstances, without the
approval of the Company's board of directors. In such event,
holders of common shares, other than the Acquiring Person and any
Related Persons, will be entitled to exercise their Rights and
purchase common shares of the Company at a substantial discount to
the then market price of the Company's common shares.
The Plan is scheduled to expire at the close of business on the
date of the Company's annual meeting of shareholders to be held in
in 2025, unless terminated earlier in accordance with the terms of
the Plan.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the
discovery of new precious metal and copper 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 (163,969
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.
Related link: sableresources.com
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.
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.