Sable Resources Ltd. Closes $600,000 Private Placement
PRESS RELEASE FOR IMMEDIATE RELEASE
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Sable Resources Ltd. Closes $600,000 Private Placement
March 27, 2018 (Vancouver, BC) – Sable Resources Ltd. (TSXV:SAE) (“Sable” or the "Company") is pleased to announce that it has closed its non-brokered private placement as previously announced on March 15, 2018 to raise gross proceeds of $600,000 (the “Offering”).
Pursuant to the Offering, the Company issued a total of 2,000,000 common shares of the Company issued on a "CEE flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares" or “FT Shares”) at a price of $0.30 per Flow-Through Share for aggregate gross proceeds of up to CAD $600,000 (the “Placement”).
The net proceeds of the Placement 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 December 31, 2018. The funds are intended to be used to explore the Company’s projects in located in British Columbia. All of the FT Shares issued in connection with the Offering will be subject to a four month 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.
This news release does not constitute an offer of securities for sale in the United States. The securities being offered (including all underlying securities thereof) have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and such securities may not be offered or sold within the United States, or to, or for the account or benefit of, U.S. persons, absent U.S. registration or an applicable exemption from U.S. registration requirements. For more information:
Tom Obradovich, President & Chief Executive Officer [email protected] Tel (416) 985-7140 Or visit http://www.sableresources.com
Cautionary Statement on Forward-Looking Information
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, receipt of all necessary regulatory approvals required in connection with the Upsized Offering, closing date of the Upsized Offering, completion of the Upsized Offering, use of proceeds, exercise of the Agent’s option and advancement of the Company’s properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Important factors that could cause actual results to differ from this forward-looking information include that fact that mineral exploration involves a high degree of risk and is highly speculative in nature, few properties that are explored are ultimately developed into producing mines, geological factors, the actual results and timing of current and proposed future exploration programs, changes in project parameters as plans continue to be evaluated, as well as those factors described under the heading "Risk Factors” in the Company’s most recently filed management’s discussion and analysis. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward- looking information.
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.
This news release does not constitute an offer to purchase securities. The securities offered in the Upsized Offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.