12:44:30 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Sable Resources Ltd (2)
Symbol SAE
Shares Issued 47,961,457
Close 2016-12-29 C$ 0.13
Market Cap C$ 6,234,989
Recent Sedar Documents

Sable amends $250,000 placement to offer NFT shares

2016-12-29 17:17 ET - News Release

Mr. Tom Obradovich reports

SABLE RESOURCES LTD ANNOUNCES AMENDMENT TO PREVIOUSLY ANNOUNCED CAD $250 THOUSAND NON- BROKERED PRIVATE PLACEMENT

Sable Resources Ltd. has amended the non-brokered flow-through private placement previously announced on Dec. 16, 2016. The amendment will allow a portion of the private placement, at the company's discrection, to be offered as non-flow-through common shares of the company. The non-FT shares will be priced at 15 cents per non-FT share. Proceeds from the issuance of the non-FT shares will be used for payment of debt and for general working capital.

Previously, the entire placement of up to 1,666,666 common shares of the company was offered as flow-through common shares of the company at a price of 15 cents per FT share.

The net proceeds from the issuance of the FT shares will be used to incur eligible Canadian exploration expenses and flow-through mining expenditures, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than Dec. 31, 2016. The funds are intended to be used to explore the company's Toodoggone property located in British Columbia.

The placement is subject to the receipt of all necessary regulatory approvals, including the approval of the NEX board of the TSX Venture Exchange. The FT shares will be subject to resale restrictions for a period of four months and one day from the closing date of the placement under applicable securities legislation. The placement is scheduled to close on or about Dec. 30, 2016.

About Sable

Sable owns the Toodoggone gold project comprising 66 square kilometres of mineral tenure and mining leases, including the past-producing Baker and Shasta mines, and the 250-ton-per-day Baker mill and tailings facility. The project is located in north-central British Columbia, Canada, and is road accessible.

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