Osisko Gold Royalties Ltd (TSX & NYSE:OR)
(“
Osisko”) announces that it has subscribed for
and received from Sable Resources Ltd. (TSXV:SAE)
(“
Sable”) 16,000,000 units (the
“
Units”) of Sable for a price of $0.13 per Unit by
way of a non-brokered private placement of Sable, for an aggregate
subscription price of $2,080,000 (the “
Private
Placement”).
Each Unit is comprised of one (1) common share
of Sable (the “Share”) and one-half of one common
share purchase warrant of Sable (the “Warrant”)
entitling the holder to purchase one (1) additional common share of
Sable at a price of $0.21 per common share for a period of 36
months from the closing of the Private Placement.
Immediately prior to the closing of the Private
Placement, Osisko did not have beneficial ownership of, or control
and direction over, any common share of Sable. Immediately
following the closing of the Transaction, Osisko owns, beneficial
ownership of, or control and direction over:
- 16,000,000 common shares,
representing approximately 9.9% of Sable’s issued and outstanding
common shares;
- 8,000,000 Warrants representing,
together with the 16,000,000 Shares, approximately 14.1% of the
number of Sable’s issued and outstanding common shares on a
partially diluted basis (assuming only the exercise of the
8,000,000 Warrants held by Osisko).
Osisko acquired the securities described in this
press release for investment purposes and in accordance with
applicable securities laws, Osisko may, from time to time and at
any time, acquire additional Common Shares and/or other equity,
debt or other securities or instruments (collectively,
“Securities”) of Sable in the open market or
otherwise, and reserves the right to dispose of any or all of its
Securities in the open market or otherwise at any time and from
time to time, and to engage in similar transactions with respect to
the Securities, the whole depending on market conditions, the
business and prospects of Sable and other relevant factors.
A copy of the early warning report to be filed
by Osisko in connection with the Private Placement described above
will be available on SEDAR under Sable’s profile. This news release
is issued under the early warning provisions of the Canadian
securities legislation.
About Osisko Gold Royalties
Ltd
Osisko Gold Royalties Ltd is an intermediate
precious metal royalty company that holds a North American focused
portfolio of over 135 royalties, streams and precious metal
offtakes. Osisko’s portfolio is anchored by its 5% NSR royalty on
the Canadian Malartic Mine, which is the largest gold mine in
Canada. As of August 26, 2019, 143,875,955 common shares
were issued and outstanding. Osisko also owns a portfolio of
publicly held resource companies, including a 32.6% interest in
Barkerville Gold Mines Ltd., a 16.4% interest in Osisko Mining Inc.
and a 19.9% interest in Falco Resources Ltd.
Osisko is incorporated under the laws of the
Province of Québec, with its head office located at 1100 avenue des
Canadiens-de-Montréal, Suite 300, Montréal, Québec,
H3B 2S2.
For further information,
please contact Osisko Gold Royalties Ltd: |
Joseph de la PlanteVice
President, Corporate DevelopmentTel. (514)
940-0670jdelaplante@osiskogr.com |
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