- Sabina Gold & Silver has closed the first tranche of a private placement with Orion Mine Finance and Wheaton Precious Metals Corp
- The company issued 46,209,769 common shares to Orion and 12,322,605 common shares to WPM for total net proceeds of approximately C$75.5 million
- Orion and WPM have subscribed to a total private placement of 72,732,692 and 19,395,384 common shares of Sabina respectively
- The remaining two tranches of the private placement will be completed by the end of Q2, 2022
- Sabina Gold & Silver develops district scale, advanced and high-grade gold assets in Nunavut.
- Sabina Gold & Silver Corp. (SBB) is up 2.29 per cent on the day, trading at $1.34 per share at 10:30 am EST
Sabina Gold & Silver (SBB) has closed the first tranche of a private placement with Orion Mine Finance and Wheaton Precious Metals Corp.
The company issued 46,209,769 common shares to Orion and 12,322,605 common shares to WPM for total net proceeds of approximately C$75.5 million.
“We are very happy with WPM’s increased position and Orion’s addition to Sabina’s shareholder registry,” said Bruce McLeod, President & CEO.
“We believe their investment in the company reflects their confidence in the merits of Goose mine and in Sabina’s ability to execute and deliver the Project. We look forward to continuing to report on our progress as we begin to kick off our 2022 activities”
Orion and WPM have subscribed to a total private placement of 72,732,692 and 19,395,384 common shares of Sabina respectively at a price of C$1.30. This private placement is scheduled to close in three tranches with this being the first. The second tranche will be completed by the end of Q1, 2022 and the third in Q2, 2022.
The proceeds will be used to fund 2022 development initiatives and procurement commitments and include repaying the previously announced US$20 million Sprott bridge loan in accordance with its terms.
Sabina Gold & Silver develops district scale, advanced and high-grade gold assets in Nunavut.
Sabina Gold & Silver Corp. (SBB) is up 2.29 per cent on the day, trading at $1.34 per share at 10:30 am EST.