Not for distribution in the United States
Sabina Gold & Silver Corp (TSX:SBB)
(“Sabina” or the “Company”) is
pleased to announce that it has filed a preliminary base shelf
prospectus (the "Shelf Prospectus") with the
securities regulatory authorities in each of the provinces and
territories of Canada other than Quebec.
The Shelf Prospectus, when made final, will
enable Sabina to make offerings of up to $500 million of any
combination of common shares, debt securities, subscription
receipts, units and warrants during the 25-month period that the
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 established in a prospectus supplement to the Shelf Prospectus,
which supplement will be filed with the applicable Canadian
securities regulatory authorities.
A copy of the 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,
subscription receipts, units, warrants and share purchase contracts
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
with approximately C$93 million in cash and equivalents, 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 “Study”). At a
US$1,150 gold price and a 0.80 (US$:C$) exchange rate, the Study
delivers a potential after tax internal rate of return of
approximately 24.2% with an initial CAPEX of $415 million.
The Project received its final Project
Certificate on December 19, 2017. The Project is now in the final
regulatory and licensing phase.
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.
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 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, 2016 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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