Sable Announces C$5 Million Private Placement

Sable Announces C$5 Million Private Placement

VANCOUVER, BCAug. 13, 2020 /CNW/ – Sable Resources Ltd. (“Sable” or the “Company”) (TSXV: SAE) is pleased to announce that it has entered into an agreement with Sprott Capital Partners LP as lead agent, and, if applicable, on behalf of a syndicate of one or more additional agents (referred to collectively as the “Agents”) in connection with a “best efforts” private placement financing of up to 33,333,334 units of the Corporation (“Units”) at a price of C$0.15 per Unit (the “Unit Price”) for aggregate gross proceeds of up to C$5 million (the “Offering”).  Each Unit will consist of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”).  Each whole Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$0.20 for a period of 36 months from the date of issuance thereof.

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