Following this mornings ongoing trend, Sable Resources (TSXV: SAE) has now also announced that it will be conducting a bought deal private placement. The company will look to raise total gross proceeds of $10.0 million via the offering, which is being lead by Sprott Capital Partners and Eight Capital.
The financing will see the company look to sell a total of 33.3 million common shares of the issuer under the financing, at a price of $0.30 per common share. No warrant is being offered in connection with the financing. An 25% over-allotment option has also been granted to the underwriters.
Proceeds from the financing are to be used for exploration, working capital, and general corporate purposes.
Sponsored · Cambria Gold Mines
The offering is expected to close June 15, 2021.
Sable Resources last traded at $0.35 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
