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
SBR	ORDINARY FULLY PAID	392,929,251

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	** Approval
+Security holder approval	Monday July 27, 2020	actual?	received/condition met?
		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 alreadyquoted or recorded by ASX)?	Will the proposed issue of this+security include an offer ofattaching +securities?Yes
Existing class

Details of +securities proposed to be issued

ASX +Security Code and Description

SBR : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

392,929,251

Purpose of the issue

Placement to raise funds for exploration, working capital and other capital.

Offer price details for retail security holders

In what currency is the cash	What is the issue price per
consideration being paid?	+security?
AUD - Australian Dollar	AUD 0.00250

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

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)?

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 issue is to be conducted in two tranches. The first tranche is for 180,929,251 ORD plus a free listed option SBRO on a 1:2 basis. The second tranche is for 212,000,000 ORD plus a free listed option SBRO on a 1:2 basis. The first tranche shares are anticipated to be issued shortly, with the second tranche shares as well as the options for both tranches to be issued subject to receiving shareholder approval at the General Meeting on 27 July 2020. The first tranche shares are to be issued at $0.0025 per share and the second tranche shares are to be issued at the higher of $0.0025 and the 5-day VWAP immediately prior to the date of issue.