Sabre Gold Mines Corp - SGLDF STOCK NEWS

Sabre Gold Mines Corp. (SGLDF) shareholders have overwhelmingly approved the acquisition by Minera Alamos through a plan of arrangement. Under the agreement, shareholders will receive 0.693 Minera Alamos shares for each Sabre share. The meeting saw representation of 42.632% of total outstanding shares.

The arrangement resolution received strong support with 99.814% approval from all voting shareholders and 99.641% from disinterested shareholders. Additionally, shareholders approved the issuance of 30,490,883 shares to settle approximately $9.5 million in debt obligations at $0.3108 per share, with 99.347% approval from disinterested shareholders.

The arrangement is expected to close around January 27, 2025, subject to final court approval and other customary conditions. Following completion, Sabre shares will be delisted from the Toronto Stock Exchange within 2-3 business days.

Sabre Gold Mines (TSX: SGLD, OTCQB: SGLDF) has announced a special shareholders' meeting scheduled for January 14, 2025, at 3:00 p.m. in Toronto. The key agenda item is the approval of a plan of arrangement for Minera Alamos to acquire all outstanding shares of Sabre Gold.

Due to the ongoing Canadian postal strike, shareholders may face difficulties receiving meeting materials through regular mail. The company has made materials accessible online through SEDAR+ and the transfer agent's website. Shareholders can request materials via email or courier if needed.

Registered shareholders can vote electronically or in writing before the January 10, 2025 deadline, while beneficial shareholders should contact their brokers for voting instructions.

Sabre Gold Mines (TSX: SGLD, OTCQB: SGLDF) announces an increase in its shareholding in Azarga Metals following the issuance of 670,000 shares at C$0.05 per share, totaling C$33,500. This share issuance is part of the Option to Purchase Agreement for the Marg VMS project in Central Yukon.

Prior to this issuance, Sabre Gold owned 3,388,664 Azarga shares (9.32% ownership). Following the transaction, Sabre Gold now owns 4,058,664 shares, increasing its ownership to 10.04% on a non-diluted basis. If Azarga fails to complete option maintenance payments or exercise the purchase option, the Marg Property will revert to Sabre Gold.

Sabre Gold Mines has completed the repurchase of a 1.5% net smelter returns royalty (NSR) on the Copperstone Gold project from Trans Oceanic Minerals Company (TOMC) for US$1.25 million. The purchase price was satisfied through the transfer of a 0.5% NSR royalty on the 3 Aces project, an exploration project owned by Seabridge Gold in Yukon, Canada. The transaction removes an economic burden from Copperstone, potentially improving its financial viability. The deal constitutes a related party transaction as TOMC is controlled by a company director.

Minera Alamos (TSXV: MAI) announced the acquisition of Sabre Gold Mines through a definitive agreement signed on October 27th, 2024. The transaction will create a diversified North American gold producer, adding the Copperstone Mine in Arizona to Minera's portfolio. Copperstone, which previously produced 514,000 oz of gold from 1987 to 1993, is expected to contribute approximately 150,000 oz of annual gold production. The deal includes elimination of $9.4M in Sabre debt at a 15% discount. The transaction values Sabre at approximately US$43/oz based on resources and will result in Minera shareholders owning 86% of the combined company.

Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) has announced that it expects to be impacted by the receivership of Victoria Gold Corp. In September 2023, Sabre Gold sold its subsidiary Golden Predator Mining Corp., which held the Brewery Creek property and other mineral assets, to Victoria for $13.5 million. While $8.5 million was paid in cash at closing, the remaining $5 million was to be paid in installments on September 14, 2024, and September 14, 2025.

Due to Victoria's receivership, Sabre Gold does not expect to receive the $3 million payment due on September 14, 2024. The company is uncertain about receiving any future payments from Victoria. Sabre Gold plans to pursue legal remedies to recover the remaining payments, which are unsecured obligations of Victoria.

Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF) has announced a restructuring of the Property Purchase Agreement of the Marg VMS project with Azarga Metals. The agreement has been amended to an option to purchase agreement, and Azarga has agreed to increase the net smelter returns royalty from 1% to 2%. In consideration of debt forgiveness, Azarga will issue common shares and make cash payments to Sabre Gold.

Sabre Gold Mines Corp. has finalized the restructuring of its debt obligations and the gold stream over the Copperstone Mine. The terms include partial early repayment of debt obligations in exchange for forgiveness of $3 million in accrued interest, amending the gold entitlement percentage under the gold stream, and agreement to repurchase the 1.5% gross production royalty on the Copperstone Mine within 12 months for $1,250,000.

Sabre Gold Mines Corp. announces that Rackla Metals has exercised its option to acquire a 100% interest in the SER property.