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Sable Resources Completes Distribution of Talisker Shares as Return of Capital
Sable Resources Completes Distribution of Talisker Shares as Return of Capital Can...
About this update from Sable Resources Ltd.
[{"type":"text","content":"\n\n\n\nSable Resources Completes Distribution of Talisker Shares as Return of Capital\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\nCanada NewsWire\nTORONTO, Aug. 23, 2019\n\n\n\nTORONTO, Aug. 23, 2019 /CNW/ - Sable Resources Ltd. (the \"Company\") (TSX Venture: SAE) announces that it has completed the distribution of 29,937,618 common shares of Talisker Resources Ltd. (CSE: TSK) (the \"Talisker Shares\") to shareholders of the Company.  The distribution of the Talisker Shares was effected as a reduction in the stated capital of the common shares of the Company (the \"Return of Capital\").  The Return of Capital was approved by shareholders of the Company at the annual general and special meeting held on June 26, 2019 (the \"Meeting\") and the distribution was completed to shareholders of record as at the close of business of July 8, 2019 (the \"Record Date\"). \nThe Company previously received the Talisker Shares in consideration for the assignment of certain mineral resource properties located in the Province of British Columbia on April 18, 2019.  It was a condition to completion of the assignment that the Company arrange for the distribution of the majority of the Talisker Shares.  Prior to completion of the Return of Capital, the Company held 30,000,000 Talisker Share, received in consideration for the assignment of the mineral properties.  Following completion of the Return of Capital, the Company continues to hold 62,382 Talisker Shares, presenting approximately 0.1% of the issued and outstanding Talisker Shares.  The Company intends to hold the remaining Talisker Shares for investment purposes, and does not have any further plans with respect to the acquisition or disposition of further Talisker Shares.  A copy of the early warning report filed by the Company in connection with the Return of Capital is available for review under the profile for Talisker Resources Ltd. on SEDAR (www.sedar.com), or by contacting Tom Obradovich, President and Chief Executive Officer of the Company, at (416) 985-7140 or tobradovi...