Sabina Gold & Silver Closes Equity Private Placement 2 Tranche for Approx. CAD $ 39.3 M, Canadian Business Journal

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Vancouver, British Columbia, March 8, 2022 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (“Sabina”) or (“Company”) (SBB – TSX / SGSVF – OTCQX) are Orion Mine Finance (“Orion”) and Wheaton Precious related to the previously announced project finance package (“Finance”). The second tranche of equity private placements from Metals Corporation (“WPM”). Private placement of shares with Zhaojin International Mining Co. Ltd (“Zhaojin”) has also ended.

The second privately offered tranche consists of the issuance of 16,905,354 shares of our common stock to Orion, 4,508,094 shares of our common stock to WPM, and 8,784,310 shares of our common stock to Zhaojin, with net income of approximately 39.3 million. It’s 10,000 Canadian dollars.

Bruce MacLeod, President and CEO, said: “We look forward to ending the third tranche of this funding in the second quarter of 2022.”

About Sabina

Sabina Gold & Silver Corp. is an emerging gold mine that owns 100% of the advanced, high-grade Buck River Gold district of the Nunavut Territory, Canada.

Sabina recently submitted an updated feasibility study (“UFSThe district’s first mine, the Goose mine, presents a project that produces approximately 223,000 ounces of gold annually (average of 287,000 ounces per year for the first five years and 312,000 ounces of peak production for the third year). .. Rapid return on investment in 15 and 2.3 years, IRR after tax is about 28%, NPVFive% C $ 1.1 billion. See the National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada, dated March 3, 2021.

The project received final major approval on June 25, 2020 and is currently receiving all major construction and operation permits and approvals.

We are also very enthusiastic about Inuit stakeholders, focusing on Inuit employment and opportunities. We have a 20-year renewable land use agreement with the Kitty Kumeoto Inuit Association and are working on various sustainability initiatives under that agreement.

In addition to the back river, Sabina also owns important silver royalties in Glencore’s Hackett River project. Silver royalties in silver production on the Hackett River consist of 22.5% of the initial 190 million ounces of silver produced and 12.5% ​​of all subsequent silver produced.

For more information, please contact:
Nicole Horror, Vice President of Communications: 1 888 648-4218

Information about the future outlook

This news release assumes the start of construction of the project, the timing of completion of construction, the creation of value for stakeholders, the timing and completion of the second and third tranches of private placements, and the prediction of UFS results. .. These forward-looking statements have been made as of the date of this news release. Readers should be careful not to place excessive reliance on forward-looking statements. There is no guarantee that future situations, results, or results will occur, or that plans, intentions, or expectations will arise in such forward-looking statements. A statement about the future outlook will occur. These forward-looking statements are based on expectations of future events at the time such statements were made, but these statements warrant that such future events will occur. Not affected by risks, uncertainties, assumptions, and other factors. Events or outcomes may differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among other things, the availability of equity financing under reasonable conditions, the approval of private offerings to Orion and Wheaton by Sabina shareholders, the construction, production, development planning and costs of the Back River Gold project. Estimated uncertainty is included; discrepancies between actual mineral reserves and estimated mineral reserves and mineral resources, and between actual and estimated development and operating costs. Interpretation of drills, metallurgical tests and other exploration results. The company’s ability to retain key managerial employees and skilled and experienced personnel. Exploration, development, mining risks, and the inherently dangerous nature of mining, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties. Risk of property and mineral ownership, including claims of minerals or defects in ownership of property. General economic conditions, commodity prices, exchange rate fluctuations, and the impact of government and regulatory action. Misunderstandings in the process of making a statement about the future outlook. In addition, there are known and unknown risk factors that may cause our actual results, performance, or outcomes to differ materially from future outcomes, performances, or outcomes expressed or implied by forward-looking statements. Known risk factors include risks associated with exploration and project development. Need for additional financing; calculation of mineral resources and reserves. Operational risks associated with mining and mining processing. Metal price fluctuations; the title is important. Government regulation; Obtaining and renewing required licenses and permits. Environmental responsibility and insurance; dependence on key persons. Possible conflicts of interest between certain officers or directors. Lack of dividends; currency fluctuations; labor disputes; competition; dilution; our common stock price and volume volatility. Future sale of shares by existing shareholders. And other risks and uncertainties. This includes the risks associated with the Back River project and the mineral exploration and development described in the annual information form, financial statements, and MD & A for the accounting period ended December 31, 2020 filed with Canada Securities. Includes common industry risks. Available to admins and You have attempted to identify important factors that may cause actual actions, events, or outcomes to differ materially from those described in the forward-looking statements, but the actions, events, or outcomes are expected, presumed, or intent. There may be other factors that cause something different than what you did. Actual results and future events may differ materially from those expected in such statements and there is no guarantee that the forward-looking statements will be accurate. Therefore, readers should not place undue reliance on forward-looking statements. We undertake no obligation to update or change any forward-looking statement, except as required by applicable securities law.

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Sabina Gold & Silver Closes Equity Private Placement 2 Tranche for Approx. CAD $ 39.3 M, Canadian Business Journal

Source link Sabina Gold & Silver Closes Equity Private Placement 2 Tranche for Approx. CAD $ 39.3 M, Canadian Business Journal

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