Sable Resources Ltd – Shares for Debt
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
NEWS RELEASE
Sable Resources Ltd – Shares for Debt
Vancouver, British Columbia, April 26, 2017 - Sable Resources Ltd. (NEX SAE.H) (the “Company” or “Sable”) wishes to announce that it has reached an agreement with Cangaroo Capital Corp. and Walter Canadian Coal Partnership (the “Creditors”) to settle debts owing by the Company in the aggregate amount of $285,000 in common shares at an issue price of $0.15 per share (the “Loan Settlement”). Mr. Harbort is a principal of one of the Creditors, and a director of Sable. Any shares issued in connection with the Loan Settlement will be issued in reliance on prospectus exemptions under applicable securities legislation and will be subject to a hold period of four months and a day following the date of issuance. The Loan Settlement is subject to all necessary regulatory approval, including the approval of the NEX board of the TSX Venture Exchange.
About Sable Resources Ltd.
Sable owns the Toodoggone gold project comprising 66 square kilometers 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.
For more information:
Tom Obradovich, President & CEO [email protected] Tel (416) 985-7140 Or visit http://www.sableresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements – Certain information set forth in this news release may contain forward- looking statements that involve substantial known and unknown risks and uncertainties. These forward- looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sable, including, but not limited to the receipt of applicable regulatory approvals and whether the Loan Settlement will be completed as currently proposed or at all. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward- looking statements.