Saville Announces Closing of Unit Private Placement
1450, 789 West Pender Street Vancouver, BC V6C 1H2
t. 604 681 1568 [email protected]
www.savilleres.com
SAVILLE ANNOUNCES CLOSING OF UNIT PRIVATE PLACEMENT
VANCOUVER, B.C., February 4, 2019 – Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Company”) is pleased to announce that it has completed the second and final tranche of its previously announced non‐brokered private placement (the “Offering”), as described in its News Release dated December 19, 2018, pursuant to which it has issued an aggregate of 90,000 non‐flow through units (each, a “NFT Unit”) at a price of $0.05 per NFT Unit for gross proceeds of $4,500. Each NFT Unit consists of one common share of the Company (each, an “NFT Share”) and one non‐transferable common share purchase warrant (each, a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one NFT Share at a price of $0.10 per NFT Share for a period of three years following the closing of the Offering, subject to an acceleration provision of the Company whereby, in the event the Company’s common shares have a closing price on the TSX Venture Exchange (the “Exchange”) (or such other exchange on which the shares may be traded at such time) of greater than $0.15 per share for a period of 10 consecutive trading days at any time after four months and one day from the closing date, the Company may accelerate the expiry date of the warrants by giving notice to the holders thereof and, in such case, the warrants will expire on the 30th day after the date of such notice.
The securities issued under the Offering are subject to a statutory hold period expiring on June 5, 2019.
No finder’s fees were issued in connection with the Offering.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Saville Resources Inc.
The Company’s principal asset is the Niobium Claim Group Property, currently under Earn‐In Agreement from Commerce Resources Corp. for up to a 75% interest. The Property consists of 26 contiguous mineral claims, encompassing an area of approximately 1,223 hectares, and is considered highly prospective for niobium and tantalum. The Property includes portions of the high‐priority, and drill ready, Miranna Target where prior boulder sampling in the area has returned 5.9% Nb2O5 and 1,220 ppm Ta2O5, as well as the Northwest and Southeast areas where previous drilling has returned wide intercepts of mineralization, including 0.61% Nb2O5 over 12.0 m (EC08‐ 008) and 0.82% Nb2O5 over 21.9 m (EC10‐033), respectively.
On behalf of the Board of Directors
SAVILLE RESOURCES INC.
“Mike Hodge”
Mike Hodge President Tel: 604.681.1568
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 or accuracy of this release.
Forward‐Looking Statements
This news release contains forward‐looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward‐looking statements. Forward looking statements in this press release include that the Company has an interest in claims which are highly prospective for niobium and tantalum. Risks that could change or prevent these statements from coming to fruition include changing operational costs for mining and processing; increased capital costs; the timing and content of upcoming work programs may be interrupted or delayed; geological interpretations based on drilling that may change with more detailed information; the availability of labour, equipment, infrastructure and markets for the products produced; that despite current promising indications and grades, the minerals on our property may not be able to be economically mined; or that the required permits to build and operate any mine cannot be obtained. The forward‐looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.