SABRE RESOURCES LIMITED — Capital/Financing Update 2020

Jul 15, 2020

Announcement Summary

Entity name SABRE RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday July 16, 2020

The Proposed issue is: A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +Security Code	+Security Description	Maximum Number of+securities to be issued
SBRO	OPTION EXPIRING 30-SEP-2022	196,464,626

Proposed +issue date

Monday July 27, 2020

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of +Entity

SABRE RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

68003043570

1.3 ASX issuer code

SBR

1.4 The announcement is

New announcement

1.5 Date of this announcement

Thursday July 16, 2020

1.6 The Proposed issue is:

A placement or other type of issue

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?

• +Security holder approval
• Court approval
• Lodgement of court order with +ASIC
• ACCC approval
• FIRB approval
• Another approval/condition external to the entity

Yes

7A.1a Conditions

Approval/Condition	Date for determination	Is the date estimated or	** Approvalreceived/condition met?
+Security holder approval	Monday July 27, 2020	actual?
		Actual

Comments

Part 7B - Issue details

Is the proposed security a 'Newclass' (+securities in a class that isnot yet quoted or recorded by ASX)or an 'Existing class' (additionalsecurities in a class that is already	Will the proposed issue of this+security include an offer ofattaching +securities?No
quoted or recorded by ASX)?
Existing class

Details of +securities proposed to be issued

ASX +Security Code and Description

SBRO : OPTION EXPIRING 30-SEP-2022

Maximum Number of +securities proposed to be issued

196,464,626

Purpose of the issue

Free attaching option on a 1:2 basis to be issued to recipients of a share placement announced to the ASX on 16 July 2020. The options will be issued subject to receiving shareholder approval at a General Meeting on 27 July 2020.

Offer price details for retail security holders

In what currency is the cash	What is the issue price per
consideration being paid?	+security?

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Part 7C - Timetable

7C.1 Proposed +issue date Monday July 27, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

Monday July 27, 2020

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Peak Asset Management

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% of fees raised plus the issue of 25,000,000 ASX: SBRO

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The options are to be issued free attaching on a 1:2 basis to recipients of a share placement announced to the ASX on 16 July 2020. The options will be issued subject to receiving shareholder approval at a General Meeting on 27 July 2020.