Sable Announces Closing of $4.6 Million Financing

Sable anuncia el cierre de $ 4.6 millones del financiamiento TSX Venture Exchange_ SAE

TORONTO, Oct. 11, 2018 (GLOBE NEWSWIRE) — Sable Resources Ltd. (TSXV:SAE) (“Sable” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriter’s option. A total of 10,000,000 units (the “Units”) of Sable were sold at a price of $0.25 per Unit (the “Issue Price”), for aggregate gross proceeds of $2,500,000 (the “Offering”). Each Unit consisted of one common share (a “Common Share”) in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at a price per Warrant Share of $0.35 at any time prior to October 11, 2020. The expiry date of the Warrants may be accelerated by the Company at any time prior to the expiry date of the Warrants if the volume-weighted average trading price of the Company’s common shares is greater than $0.50 for any 20 consecutive trading days, at which time the Company may accelerate the expiry date by issuing a press release announcing the reduced warrant term whereupon the Warrants will expire on the 30th calendar day after the date of such press release.

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