Sabina Gold & Silver closes bought deal financing and private placement

22 March 2021

On March 16, 2021, Sabina Gold & Silver Corp. (TSX: SBB) (OTCQX: SGSVF) reported that it had closed a bought deal financing with a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. and including Sprott Capital Partners LP, under which the underwriters bought 18,000,000 common shares of Sabina for gross proceeds of approximately $35.1 million.

Additionally, on March 22, 2021, pursuant to the Shareholder Agreement between Sabina and Zhaojin International Mining Co., Ltd. ("Zhaojin"), Zhaojin elected to maintain its 9.9% holdings in Sabina and purchased by private placement 2,117,640 common shares of Sabina for gross proceeds of approximately $4.1 million.

Net proceeds of the financings was approximately $36.9 million.

Sabina is well-financed and is an emerging precious metals company with district scale, advanced, high grade gold assets in Nunavut, Canada.

Gowling WLG advised Sabina with respect to both the bought deal financing and the private placement with a team that included Brett Kagetsu, Tara Amiri and Raymond Ong (corporate finance), Brent Kerr and Anita Yuk (tax), with the assistance of student-at-law James Stewart and paralegal Toni Vodola.

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