SABRE RESOURCES LIMITED — Capital/Financing Update 2019

Nov 25, 2019

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ASX ANNOUNCEMENT

26 November 2019 ASX code : SBR

PLACEMENT COMPLETED

Notice Under Section 708A of the Corporations Act

Sabre Resources Limited (Company) is pleased to advise that the Company has completed a capital raising of $1,240,000 (before associated costs) through the issue of 233,333,333 fully paid ordinary shares at $0.003 per share as well as 135,000,000 fully paid ordinary shares at $0.004 per share (Placement).

The funds raised from the Placement will be used for exploration, project development, working and other capital requirements.

Recipients of the 233,333,333 shares at $0.003 per share under the Placement will also be granted a free attaching option on a 1 for 1 basis with an exercise price of $0.008 per share and expiring on 30 September 2022. This will result in the issue of 233,333,333 options, and subject to the Company meeting the conditions of the ASX, the Company will apply for quotation of the options.

Recipients of the 135,000,000 shares at $0.004 per share under the Placement will also be granted a free attaching option on a 5 for 4 basis with an exercise price of $0.008 per share and expiring on 30 September 2022. This will result in the issue of 168,750,000 options, and subject to the Company meeting the conditions of the ASX, the Company will apply for quotation of the options.

The Company provides the following information pursuant to Section 708A(5)(e) of the Corporations Act.

• The Placement was made to new and existing shareholders without disclosure under Part 6D of the Corporations Act, using the Company’s placement capacity under ASX Listing Rule 7.1 (15%) and as approved by shareholders at the General Meeting on 30 October 2019, under Section 708(8) of the Corporations Act. Shares issued under the Placement rank equally with all other fully paid ordinary shares (ASX: SBR).

• As at the date of this notice, the Company has complied with:

  • The provisions of Chapter 2M of the Corporations Act;

  • o Section 674 of the Corporations Act; and

• There is no excluded information for the purposes of Sections 708(7) and (8) of the Corporations Act.

Sincerely.

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Martin Stein Company Secretary Sabre Resources Ltd

Phone: +61 8 9481 7833