08/22/2012 | Press release

Sabre Completes $8,000,000 Placement

distributed by noodls on 08/23/2012 04:18

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ASX ANNOUNCEMENT & MEDIA RELEASE

22 August 2012

SABRE COMPLETES SIGNIFICANTLY OVERSUBSCRIBED

$8,000,000 PLACEMENT

 $8,000,000 share placement completed

 Strong institutional support

 Mr Tim Putt appointed CEO

Sabre Resources Ltd (ASX:SBR) is pleased
to announce that the
Company
has
completed a placement of approximately 30.8 million shares at $0.26 per share to institutional, sophisticated and professional investor clients of BBY Limited and Octa Phillip Securities Limited, raising $8,000,000 before placement costs.
The placement was many times oversubscribed by institutions and clients of the abovementioned brokers.
high net worth
The funds will primarily be applied to following up on results of the drillling programme at the highly prospective Guchab copper prospect as announced on 14 August 2012, and Sabre's regional exploration programme in the Otavi Mountain Land, as well as providing additional working capital.
We are also pleased to announce that Mr Tim Putt, formerly General Manager for
Marketing and
Officer.
Development, has
been appointed to the role of
Chief Executive
Sabre's Chief Executive Officer Tim Putt said: "The placement was siignificantly over subscribed with very strong support from existing shareholders and new institutional and sophisticated investors whom we welcome to the Company. The capital raising places Sabre in a strong position to continue our exciting exploration programme and follow up on recent outstanding drilling results."

Norman Grafton Company Secretary Sabre Resources Ltd

Or consult our website:

www.sabresour ces.com

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