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Sable Announces Closing of C$12.5 Million Bought Deal Private Placement
Sable Announces Closing of C$12.5 Million Bought Deal Private Placement Canada ...
About this update from Sable Resources Ltd.
[{"type":"text","content":"\n \n \n \n Sable Announces Closing of C$12.5 Million Bought Deal Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 15, 2021\n \n /CNW/ - Sable Resources Ltd. (\"\n \n Sable\n \n \" or the \"\n \n Company\n \n \") (TSXV: SAE) is pleased to announce that it has closed its previously announced private placement for total gross proceeds of approximately\n \n C$12.5 million\n \n (the \"\n \n Offering\n \n \").  The Offering was conducted by Sprott Capital Partners LP and Eight Capital, as co-lead underwriters (the \"\n \n Co-Lead Underwriters\n \n \") and PI Financial Corp. (referred to collectively as the \"\n \n Underwriters\n \n \"). In connection with the Offering, the Company has issued 41,666,600 common shares of the Company (\"\n \n Common Shares\n \n \") at a price of\n \n C$0.30\n \n per Common Share (the \"\n \n Issue Price\n \n \").\n \n \n \n \n \n \n \n \n \n The net proceeds from the sale of the Common Shares will be used by the Company for exploration and general corporate and working capital purposes.\n \n \n In connection with the Offering, the Company paid the Underwriters a cash commission of 6.0% of the gross proceeds of the Offering and issued to the Underwriters compensation warrants (the \"\n \n Compensation Warrants\n \n \") equal to 3.0% of the number of Common Shares sold pursuant to the Offering. Each Compensation Warrant is exercisable to acquire one Common Share at the Issue Price until\n \n June 15, 2023\n \n .\n \n \n The Common Shares and Compensation Warrants issued pursuant to the Offering, and any securities issued upon the exercise of the Compensation Warrants, are subject to a four month hold period pursuant to applicable securities laws. The Offering remains subject to final approval of the TSX Venture Exchange (\"\n \n TSXV\n \n \"). The TSXV has conditionally approved the listing of all Common Shares i...