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or Name
USA
CA



Sable Resources Ltd (2)
Symbol SAE
Shares Issued 56,176,957
Close 2017-09-07 C$ 0.165
Market Cap C$ 9,269,198
Recent Sedar Documents

Sable Resources closes $4.25M private placement

2017-09-08 13:36 ET - News Release

Mr. Thomas Obradovich reports

SABLE RESOURCES CLOSES $4.25 MILLION PRIVATE PLACEMENT

Sable Resources Ltd. has closed its previously announced private placement to raise gross proceeds of $4,105,575. The offering was led by Haywood Securities Inc. and included the exercise, in part, of the agent's option. Concurrently with closing of the brokered offering, the company also closed a non-brokered offering to raise gross proceeds of an additional $150,000 for combined aggregate gross proceeds of $4,255,575. The offering was upsized from $3-million on Aug. 30, 2017, due to strong demand.

Pursuant to the offering, the company issued a total of 28,370,500 units at a price of 15 cents per unit. Each unit comprises one common share of the company and one common share purchase warrant, with each warrant entitling the holder thereof to acquire one common share at a price of 25 cents until Sept. 8, 2019.

The net proceeds received by the company from the offering will be used for exploration on the company's properties in North America and for working capital and general corporate purposes.

In connection with the offering, the agent received a cash commission in an amount equal to 6 per cent of the gross proceeds of the offering (excluding proceeds from certain president's list subscribers, for which the cash commission was reduced to 3 per cent) and was granted 1,572,230 common share purchase warrants entitling the agent to subscribe for 1,572,230 common shares, equal to 6 per cent of the aggregate number of units sold in the offering (excluding units sold to certain president's list subscribers, for which the broker warrants issuable were reduced to 3 per cent). Each broker warrant is exercisable at a price equal to 15 cents until Sept. 8, 2019.

All of the units, including the underlying securities thereof, and the broker warrants, including the underlying securities thereof, issued in connection with the offering will be subject to a four-month-and-one-day hold in accordance with Canadian securities laws. Securities of the company sold in the offering in the united states or to, or for the benefit of, U.S. persons constitute restricted securities under U.S. securities laws and, accordingly, are also subject to additional resale restrictions.

About Sable Resources Ltd.

Sable owns 142 square kilometres of mineral tenure and mining leases in the Toodoggone mining district, including the past-producing Baker and Shasta mines, and the 250-tonne-per-day Baker mill and tailings facility.

We seek Safe Harbor.

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