Sabre Resources Ltd (ASX: SBR) is set to secure an additional AU$0.7 million (pre-costs) through a placement to a significant professional investor associated with Peak Asset Management Pty Ltd (Peak), who played a substantial role as an early-stage investor in Latin Resources Limited. This placement involves the issuance of 17,073,170 fully paid ordinary shares at a rate of 4.1 cents per share, accompanied by 20,573,170 free attaching SBROB listed options.
Notably, this funding initiative augments the previously announced AU$2.6 million placement on October 30, 2023. The capital raised is earmarked for expediting lithium exploration activities near Azure Minerals’ Andover discovery, situated in a burgeoning lithium province of global significance. Peak Asset Management Pty Ltd has committed to Sabre Resources' placement, pending shareholder approval at the November 30, 2023 Annual General Meeting. A 5% placement fee will be paid to Peak.
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