Business
$1.09 million private placement completed
$1.09 million private placement completed.
About this update from Sable Resources Ltd.
[{"type":"text","content":"\n\n\n\nTSX-V Symbol: SAE\n\n\nVANCOUVER, BC, Jan. 9 /CNW Telbec/ - Mr. Mel Rahal, President of Sable\nResources Ltd. is pleased to announce that the private placement announced on\nNovember 17, 2006 was completed raising a total of $1,089,000.\n\n\nThe financing consisted of a total of 1,402,500 units being issued, of\nwhich 1,072,500 were flow-through units priced at $0.80, and 330,000 were\nnon-flow-through units priced at $0.70. Each unit consists of one common share\nand one-half of one non-transferable share purchase warrant. Each whole\nwarrant is convertible into one additional share until January 15, 2008 at a\nprice of $0.85 for the flow-through units and at a price of $0.80 for the non\nflow-through units. Finder's fees of $81,520 and 131,500 warrants were paid to\nBolder Investment Partners Ltd. and $4,000 and 6,250 Warrants were paid to\nStrand Securities Corporation. Finder's Warrants are exercisable at $0.80 per\nshare until January 15, 2008. All securities distributed pursuant to this\nprivate placement are subject to a hold period expiring on April 30, 2007.\n\n\nFlow-through proceeds of this financing will be used for eligible\nexploration expenses to be incurred in 2007 at the Company's mineral\nproperties located in the Toodoggone region of British Columbia, Canada. The\nnon flow-through proceeds together with the Company's existing working capital\nwill be used for further development of the underground workings at the Shasta\nmine, and for general working capital.\n\n\nABOUT SABLE\n\n\nSable Resources is focused on the development and exploration of its\nShasta and Chappelle Properties in the Toodoggone region of northern British\nColumbia. Sable owns a modern, fully-permitted 200-ton per day mill and\nsupporting infrastructure.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1970,"tagName":"div"}]