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.
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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.