/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OF
AMERICA/
TORONTO, May 15, 2019 Sable Resources Ltd. (TSXV: SAE)
(the "Company" or "Sable") is pleased to announce
that it has closed the first tranche of a non-brokered private
placement (the "Offering") pursuant to which it has issued
5,753,333 units ("Units") at a price of $0.15 per Unit to raise aggregate gross proceeds
of approximately $863,000. Each
Unit consists of one common share of the Company and one-half of
one share purchase warrant (each whole such share purchase warrant,
a "Warrant"). Each Warrant entitles the holder to
acquire one additional common share of the Company at an exercise
price of $0.25 until the date which
is two years from the closing date of the Offering.
The Offering remains subject to the final approval of the TSX
Venture Exchange. All securities issued and issuable in
connection with the Offering are subject to a statutory hold period
expiring on September 15, 2019.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded
junior grassroots explorer focused on the discovery of new precious
metal projects through systematic exploration in endowed terranes
located in favorable, established mining jurisdictions. Sables'
main focus is developing their 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, Argentina, the Mexico Regional Program (1.5Mha),
incorporating the Margarita, Vinata and El Escarpe drill ready
projects and the BC Intrusion Related
Program, Canada (13,600ha) incorporating the drill ready
Tulox Project.
Forward-Looking Statements
This news release contains certain forward-looking
information and statements within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "might", "will",
"project", "should", "believe", "plans", "intends" and similar
expressions are intended to identify forward-looking information
and/or statements. Forward-looking statements and/or
information are based on a number of material factors, expectations
and/or assumptions of Sable which have been used to develop such
statements and/or information but which may prove to be incorrect.
Although Sable believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements as
Sable can give no assurance that such expectations will prove to be
correct. In addition to other factors and assumptions which may be
identified herein, assumptions have been made regarding, among
other things, the receipt of final regulatory approvals for the
Offering. The forward-looking information and statements
included in this news release are not guarantees of future
performance and should not be unduly relied upon. Such information
and/or statements, including the assumptions made in respect
thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results and/or events to differ
materially from those anticipated in such forward-looking
information and/or statements including, without limitation the
uncertainty of obtaining all applicable regulatory approvals,
and/or certain other risks detailed from time-to-time in Sable's
public disclosure documents. Furthermore, the forward-looking
statements contained in this news release are made as at the date
of this news release and Sable does not undertake any obligations
to publicly update and/or revise any of the included
forward-looking statements, whether as a result of additional
information, future events and/or otherwise, except as may be
required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy and/or
accuracy of this release.
SOURCE Sable Resources Ltd.