Sable Resources Ltd. Announces Closing of Private Placement
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TORONTO, May 15, 2019 Sable Resources Ltd. (TSXV: SAE) (the "Company" or "Sable") is pleased to announce that it has closed the first tranche of a non-brokered private placement (the "Offering") pursuant to which it has issued 5,753,333 units ("Units") at a price of $0.15 per Unit to raise aggregate gross proceeds of approximately $863,000. Each Unit consists of one common share of the Company and one-half of one share purchase warrant (each whole such share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.25 until the date which is two years from the closing date of the Offering.
The Offering remains subject to the final approval of the TSX Venture Exchange. All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on September 15, 2019.
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. Sables' main focus is developing their large portfolio of new greenfields projects to resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan Province, Argentina, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha) incorporating the drill ready Tulox Project.
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of Sable which have been used to develop such statements and/or information but which may prove to be incorrect. Although Sable believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as Sable can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things, the receipt of final regulatory approvals for the Offering. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation the uncertainty of obtaining all applicable regulatory approvals, and/or certain other risks detailed from time-to-time in Sable's public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Sable does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
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 and/or accuracy of this release.