04:44:49 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Sabina Gold & Silver Corp
Symbol SBB
Shares Issued 223,616,417
Close 2017-07-28 C$ 2.37
Market Cap C$ 529,970,908
Recent Sedar Documents

Sabina Gold arranges $6-million private placement

2017-07-28 16:23 ET - News Release

Mr. Bruce McLeod reports

SABINA GOLD & SILVER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FLOW THROUGH FINANCING TO RAISE $6 MILLION

Sabina Gold & Silver Corp. has arranged a non-brokered private placement pursuant to which it will sell up to 2,105,265 flow-through common shares at a price of $2.85 per share to raise gross proceeds of approximately $6-million. The proceeds from the sale of the flow-through common shares will be used for exploration on the company's Back River project.

"Given the opportunities presented at the Umwelt Vault zone, further drilling is warranted, and this financing will enable us to continue to evaluate the potential of the zone as well as other high-priority targets," said Bruce McLeod, president and chief executive officer. "In addition, this financing will also enable us to fund programs at the Goose project in 2018, should further work be warranted. The 2017 summer drilling program is set to start at the beginning of August."

The financing is scheduled to close in two tranches, one on Aug. 15, 2017, and the second on or about Sept. 10, 2017, is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The total gross proceeds from the financing must be used to incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by Dec. 31, 2018.

About Sabina Gold & Silver Corp.

Sabina is a precious metals company with district-scale, world-class undeveloped assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.

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