Sign Up

Sable Closes C$1.75 Million Private Placement with Moxico Resources

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, July 18, 2025 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable" or the "Company") (TSXV:SAE, OTCQB:SBLRF) announces that further to the Company's news release of July 2, 2025, it has closed its non-brokered private placement with Moxico Resources plc ("Moxico") raising gross proceeds of C$1,749,000 through the issuance of 31,800,000 common shares ("Shares") at a price of C$0.055 per Share (the "Private Placement").

As a result of the Private Placement, Moxico owns 31,800,000 Shares, which represent approximately 9.9% of Sable's issued and outstanding Shares. Pursuant to the terms of the subscription agreement entered into by the parties in connection with the Private Placement, Sable granted Moxico customary participation and anti-dilution rights which enable Moxico to maintain its pro rata equity interest in the Company for so long as Moxico maintains a minimum ownership threshold.

The proceeds from the Private Placement will be used by the Company for exploration and general corporate and working capital purposes.

The Shares issued under the Private Placement are subject to a four month hold period from the date of issue in accordance with applicable securities laws. The Private Placement remains subject to final approval of the TSX Venture Exchange ("TSXV"). The TSXV has conditionally approved the listing of all Shares issued under the Private Placement.

Moxico is an unlisted public mining company headquartered in the United Kingdom. As previously announced, the Company and its subsidiary entered into a binding letter agreement with Moxico that granted Moxico an exclusive option to acquire ...