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SABRE RESOURCES LIMITED — Capital/Financing Update 2015
Jul 27, 2015
65750_rns_2015-07-27_c5e2907f-f294-412c-997c-94ff75095d2a.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
28 July 2015
S HAR E PLACEMEN T
The Directors of Sabre Res o urces Ltd ( A SX:SBR) are pleased to announce t h at the Company has completed a placemen t of 30 milli o n shares a t 2 cents per share and 15,000,000 free opti o ns exercis a ble at 2. 5 cents, on or before 1 August 2018, to s o phisticated and prof e ssional inv e stor clients of CPS Capital Group P t y Ltd, to rai s e $600,000 before cost s .
22, 6 47,223 sh a res of the placement i s being m a de under A SX Listing Rule 7.1A, and rep r esents a 1 0 .7% discount to the 1 5 day VWAP for the d a ys on whi c h trading i n the Co m pany’s sec u rities took p lace prior t o the date of the placem e nt. The re m aining 7,35 2 ,777 sha r es and the 1 5,000,000 o ptions are b eing placed under Rule 7 .1.
The funds will p rimarily be applied to t h e advance m ent of exp l oration pro g rams for c o pper and zinc-lead deposits wit h in Sabre’s s trategic ex p loration lic e nces in th e Otavi Mountain Lan d (“OML”) r e gion of Na m ibia. The O ML is inter p reted to be an extensi o n of the C e ntral Afri c an Copper b elt. The ex p loration, w h ich is for-high value deposit styles , is mainly i n the ext e nsive area s of total or partial co v er which h ave been largely ignored by pre v ious exp l orers. In ad d ition, the fu n ds will also be used as g eneral wor k ing capital.
Norman Grafton Company Secretary Sabre Resources Ltd
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