Business
Private Placement of up to $1,500,000
Private Placement of up to $1,500,000.
About this update from Sable Resources Ltd.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, BC, Nov. 17 /CNW Telbec/ - Sable Resources Ltd. (TSX.V: SAE)\nis pleased to announce that it has arranged a private placement for total\nproceeds of up to $1,500,000. The financing will consist of up to $1,000,000\nin flow-through units at a price of $0.80 and up to $500,000 in non\nflow-through units at a price of $0.70.\nEach flow-through unit will consist of one flow-through common share and\none-half of one non-transferable share purchase warrant exercisable for a\nperiod of one year at a price of $0.85 for each whole warrant. Each non\nflow-through unit will consist of one non flow-through common share and\none-half of one non-transferable share purchase warrant exercisable for a\nperiod of one year at a price of $0.80 for each whole warrant. All warrants\nare convertible into non flow-through shares.\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. There will be a finder's fee on\nportions of the proceeds to registered parties in the amount of 8% cash and\n10% broker's warrants.\nClosing of the placement is subject to regulatory approval.\n\nAbout Sable Resources Limited: http://www.sableresources.com\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\nThe stock Exchange has not reviewed and does not accept responsibility\nfor the adequacy and accuracy of this news release.\n\n\n","length":1933,"tagName":"div"}]