Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX),
(“
Sabina” or the “
Company”) is
pleased to announce that it has filed a renewal preliminary base
shelf prospectus (the "
Preliminary Base Shelf
Prospectus") with the securities regulatory authorities in
each of the provinces and territories of Canada. The renewal
provides for continuity of the Base Shelf Prospectus filed by the
Company on March 26, 2018.
After a receipt is issued for the final base
shelf prospectus (the “Final Base Shelf
Prospectus”), Sabina will be able to conduct offerings in
the maximum aggregate amount of $500 million of any combination of
common shares, debt securities, warrants, subscription receipts and
units during the 25-month period that the Final Base Shelf
Prospectus, including any amendments thereto, remains valid. The
nature, size and timing of any such financings (if any) will
depend, in part, on Sabina's assessment of its requirements for
funding and general market conditions. Unless otherwise specified
in the prospectus supplement relating to a particular offering of
securities, the net proceeds from any sale of any securities will
be used to advance Sabina’s business objectives and for general
corporate purposes, including funding ongoing operations and/or
working capital requirements, repaying indebtedness outstanding
from time to time, discretionary capital programs and potential
future acquisitions. The specific terms of any future offering will
be set out in a prospectus supplement to the Final Base Shelf
Prospectus, which supplement will be filed with the applicable
Canadian securities regulatory authorities.
A copy of the Preliminary Base Shelf Prospectus
is available on SEDAR (www.sedar.com) and also may be obtained by
contacting the Vice-President, Communications & Corporate
Secretary of the Company at Suite 1800 – Two Bentall Centre, 555
Burrard Street, Vancouver, British Columbia, Canada, V7X 1M7,
telephone 604 998-4175.
The common shares, debt securities,
warrants, subscription receipts and units have not been, nor will
they be, registered under the United States Securities Act of 1933,
as amended and may not be offered or sold in the United States or
to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from the registration
requirements. This news release will not constitute an offer to
sell or the solicitation of an offer to buy nor will there be any
sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About Sabina Gold &
Silver
Sabina Gold & Silver Corp. is well-financed
and is an emerging precious metals company with district scale,
advanced, high grade gold assets in one of the world’s newest,
politically stable mining jurisdictions: Nunavut, Canada.
Sabina released a Feasibility Study on its 100%
owned Back River Gold Project which presents a project that has
been designed on a fit-for purpose basis, with the potential to
produce ~200,000 ounces a year for ~11 years with a rapid payback
of 2.9 years (see “Technical Report for the Initial Project
Feasibility Study on the Back River Gold Property, Nunavut, Canada”
dated October 28, 2015).
The Project received its final Project
Certificate on December 19, 2017. The Project received
its Type A Water License on November 14, 2018 and is now in receipt
of all major authorizations for construction and operations.
In addition to Back River, Sabina also owns a
significant silver royalty on Glencore’s Hackett River
Project. The silver royalty on Hackett River’s silver
production is comprised of 22.5% of the first 190 million ounces
produced and 12.5% of all silver produced thereafter.
The Company had approximately $26.2 million in
cash, cash equivalents and short-term investments as at December
31, 2019.
For further information, please
contact:
Nicole Hoeller, Vice-President, Communications: 1
888 648-4218 nhoeller@sabinagoldsilver.com
This news release has been authorized by the
undersigned on behalf of Sabina Gold & Silver Corp.
Bruce McLeod, President & CEOSuite 1800 – Two
Bentall Centre555 Burrard StreetVancouver, BC V7X 1M7Tel 604
998-4175 Fax 604 998-1051http://www.sabinagoldsilver.com
Forward-Looking Information
This news release contains “forward-looking
information” within the meaning of applicable securities laws (the
“forward-looking statements”), including information pertaining to
the Company's filing of the Preliminary Base Shelf Prospectus,
regulatory approval of the Shelf Prospectus and any potential
future offering(s) of securities pursuant to the Shelf Prospectus
(and the use of proceeds therefor). These forward-looking
statements are made as of the date of this news release. Readers
are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the future
circumstances, outcomes or results anticipated in or implied by
such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur. While we have based these
forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements
are not a guarantee that such future events will occur and are
subject to risks, uncertainties, assumptions and other factors
which could cause events or outcomes to differ materially from
those expressed or implied by such forward-looking statements. Such
factors and assumptions include, among others, the effects of
general economic conditions, commodity prices, changing foreign
exchange rates and actions by government and regulatory authorities
and misjudgments in the course of preparing forward-looking
statements. In addition, there are known and unknown risk factors
which could cause our actual results, performance or achievements
to differ materially from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Known risk factors include risks associated with
exploration and project development; the need for additional
financing; the calculation of mineral resources and reserves;
operational risks associated with mining and mineral processing;
fluctuations in metal prices; title matters; government regulation;
obtaining and renewing necessary licenses and permits;
environmental liability and insurance; reliance on key personnel;
the potential for conflicts of interest among certain of our
officers or directors; the absence of dividends; currency
fluctuations; labour disputes; competition; dilution; the
volatility of the our common share price and volume; future sales
of shares by existing shareholders; and other risks and
uncertainties, including those relating to the Back River Project
and general risks associated with the mineral exploration and
development industry described in our Annual Information Form,
financial statements and MD&A for the fiscal period ended
December 31, 2019 filed with the Canadian Securities Administrators
and available at www.sedar.com. Although we have attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. We are under no obligation to update or
alter any forward-looking statements except as required under
applicable securities laws.
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