Sabina Gold & Silver Corp

Published : May 02nd, 2016

Sabina Gold & Silver Corp. Announces C$30 Million Bought Deal Financing

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Sabina Gold & Silver Corp. Announces C$30 Million Bought Deal Financing

Not for distribution to U.S. news wire services or dissemination in the United States.

Vancouver, British Columbia (May 2, 2016) -- Sabina Gold & Silver Corp. ('Sabina' or the 'Company') has announced today that it has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets, Canaccord Genuity and Cormark, under which the underwriters have agreed to buy on bought deal basis 18,410,000 common shares (the 'Common Shares'), at a price of $1.63 per Common Share for gross proceeds of approximately $30 million (the 'Offering'). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. BMO Capital Markets is the sole bookrunner on the offering. The offering is expected to close on or about May 20, 2016 and is subject to Sabina receiving all necessary regulatory approvals.

The net proceeds of the offering will be used to advance development of the Company's Back River Gold Project including detailed engineering and permitting on the Project and for working capital and general corporate purposes.

The Common Shares will be offered by way of a short form prospectus in all of the provinces and territories of Canada, except Quebec and may also be offered by way of private placement in the United States.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Sabina Gold & Silver
Sabina Gold & Silver Corp. is an emerging precious metals company with district scale, world class undeveloped assets in one of the world's newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina recently 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. At a US$1,150 gold price and a 0.80 exchange rate, the Study delivers a potential after tax internal rate of return of approximately 24.2% with an initial CAPEX of $415 million.

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.

The Company has planned a budget of approximately $11 million for 2016.

For further information, please contact:

Nicole Hoeller
Vice-President, Communications
1 888 648-4218

Read the rest of the article at www.publicnow.com

Sabina Gold & Silver Corp

DEVELOPMENT STAGE
CODE : SBB.TO
ISIN : CA7852461093
CUSIP : 785271 10 7
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Sabina is a gold and silver development stage company based in Canada.

Sabina develops gold, silver, copper, lead and zinc in Canada, and holds various exploration projects in Canada.

Its main asset in development is HACKETT RIVER in Canada and its main exploration properties are DEL NORTE, ROCKSTONE, GOLDEN SIDEWALK, SKINNER, BACK RIVER - GOOSE LAKE, BACK RIVER, BACK RIVER - GEORGE LAKE, NEWMAN-MADSEN and WISHBONE in Canada.

Sabina is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 348.8 millions as of today (US$ 281.8 millions, € 242.9 millions).

Its stock quote reached its lowest recent point on July 12, 2002 at CA$ 0.05, and its highest recent level on April 21, 2011 at CA$ 7.63.

Sabina has 223 580 000 shares outstanding.

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4/2/2013Announces 2012 Year End Financial Results
11/9/2012Announces Q3 2012 Financial Results
8/14/2012Announces Q2 2012 Financial Results
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3/30/2012Announces 2011 Year End Financial Results
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7/24/2013(Back River)Announces Positive Results from Umwelt Deposit at Back River...
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6/28/2011(Back River - Goose Lake)Reports Umwelt Mineralization Now Extended Over a Strike Len...
5/31/2011(Back River)Announces Buy Back of the R.A. Olson Consulting Ltd. Royalti...
5/22/2011(Hackett River)Reports Positive Results from Early 2011 Drilling at the Hac...
4/27/2011(Back River)Reports Positive Results From Early 2011 Drilling at the Bac...
3/13/2011(Back River)Announces Updated Resource Estimate for Back River Gold Proj...
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1/12/2015Sabina Gold & Silver Reports On Important Back River Permitt...
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8/7/2014Sabina Gold & Silver Announces Q2 2014 Financial Results
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9/17/2012(Back River)Announces New Shallow High Grade Discovery at Back River Pro...
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11/3/2008New Address
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8/21/2008ADDS TO ?NORTHERN? MANAGEMENT TEAM
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