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Sable Resources Ltd. announces closing of royalty purchase agreement with Osisko Gold Royalties
Sable Resources Ltd. announces closing of royalty purchase agreement with Osisko Gold Roya...
About this update from Sable Resources Ltd.
[{"type":"text","content":"\n\n\n\nSable Resources Ltd. announces closing of royalty purchase agreement with Osisko Gold Royalties\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 27, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, Sept. 27, 2019 /CNW/ - Sable Resources Ltd. (the \"Company\" or \"Sable\") (TSX Venture: SAE) announces that as previously described in its press release dated August 28, 2019, it has entered into a definitive royalty purchase agreement (the \"Royalty Purchase Agreement\") with its wholly-owned Mexican subsidiaries and Osisko Gold Royalties Ltd (\"Osisko\", OR-T). The initial closing under the Royalty Purchase Agreement has occurred and Sable has received proceeds in the amount of $5.0 million. Pursuant to the completed initial royalty transaction, as guaranteed by Sable, Exploraciones Sable, S de R.L. de C.V. has granted Osisko a 1% net smelter returns royalty (the \"NSR\") on its properties (the \"Initial Properties\"). Under the terms of the Royalty Purchase Agreement, for no additional consideration, the NSR will extend to any additional properties (the \"Future Properties\") acquired by Sable within a period of four years from the closing (the \"Maturity Date\"). \nAs part of the Royalty Purchase Agreement, Sable has also granted Osisko the right to acquire an additional 1% NSR for $5.5 million on all minerals produced from Initial Properties and Future Properties. This right expires on the Maturity Date. \nAbout Sable Resources Ltd.\nSable Resources Ltd. is a well-funded junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terrains located in favourable, established mining jurisdictions. Sables' main focus is developing its large portfolio of new greenfields projects to resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan Province, Argentin...