PERTH (miningweekly.com) – Junior Sabre Resources will raise a minimum of A$3-million in a share placement under the company’s existing placement capacity.
Sabre told shareholders on Wednesday that the company had received a letter from corporate adviser Peak Asset Management confirming that it had received binding commitments for a total of A$4.8-million.
The junior company is expected to issue 417.3-million fully paid ordinary shares at a price of 1.15c each, along with a one-for-one free attaching listed option, exercisable at 0.8c each until the end of September 2022.