Brief: Sable Resources Announces Strategic Investment With Osisko Gold Royalties

Sable Resources

29/08/2019 13:19

Aug 29 (Reuters) - Sable Resources Ltd  SAE.V :
    * SABLE RESOURCES LTD. ANNOUNCES STRATEGIC INVESTMENT WITH
OSISKO
GOLD ROYALTIES
    * SABLE RESOURCES - ENTERED INTO INVESTMENT AGREEMENT,
EQUITY
SUBSCRIPTION AGREEMENT WITH OSISKO GOLD ROYALTIES FOR TOTAL
POTENTIAL PROCEEDS OF $12.58 MILLION
    * SABLE RESOURCES - AS PER EQUITY SUBSCRIPTION AGREEMENT
OSISKO
SUBSCRIBED FOR 16 MILLION UNITS OF CO AT PRICE OF $0.13/UNIT FOR
A TOTAL OF $2.08 MILLION
    * SABLE RESOURCES LTD - OSISKO HAS RIGHT TO NOMINATE ONE
PERSON TO
CO'S BOARD SO LONG AS OSISKO OWNS MORE THAN 5% OF OUTSTANDING
COMMON SHARES OF CO
    * SABLE RESOURCES - OSISKO TO ACQUIRE A 1% NET SMELTER
RETURN
ROYALTY ON PROPERTIES CONTROLLED BY CO'S WHOLLY OWNED
SUBSIDIARIES IN MEXICO FOR $5 MILLION

Source text for Eikon:  ID:nCNWmKRk1a 
Further company coverage:  SAE.V 

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