SABRE RESOURCES LIMITED — Capital/Financing Update 2020

Jul 28, 2020

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ASX ANNOUNCEMENT 29 July 2020

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 $1,096,803 (before associated costs) through the Tranche 1 issue of 180,929,251 fully paid ordinary shares at $0.0025 per share as well as the Tranche 2 issue of 212,000,000 fully paid ordinary shares at $0.00304 per share (Placement).

The funds raised from the Placement will be used for exploration and development on existing or future assets, general working and other capital requirements.

Recipients of the 180,929,251 Tranche 1 shares as well as the 212,000,000 Tranche 2 shares have also been granted a free attaching option on a 1 for 2 basis with an exercise price of $0.008 per share and expiring on 30 September 2022. This has resulted in the issue of 196,464,626 options. Subject to the Company meeting the listing 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 (307,757,551 shares and 196,464,626 options) and ASX Listing Rule 7.1A (85,171,700 shares) as approved by shareholders at the Annual General Meeting on 29 November 2019, and under Section 708(8) and Section 708(11) 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.

This announcement was authorised for release by the Board of Directors.

Sincerely.

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Martin Stein Company Secretary Sabre Resources Ltd

Phone: +61 8 9481 7833