19 May 2020
Sabina Gold & Silver Corp. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets, under which the underwriters have agreed to buy on a bought deal basis, a combination of common shares (the “Common Shares”), flow-through common shares (the “Flow-Through Common Shares”), charity flow-through common shares (the “Charity Flow-Through Common Shares”), and super charity flow-through common shares (the “Super Charity Flow-Through Common Shares,” and together with the Common Shares, Flow-Through Common Shares, and Charity Flow-Through Common Shares, the “Securities”) to provide the Company with gross proceeds of approximately [C$49] million (the “Offering”). [12,500,000] Common Shares will be offered at a price of [C$2.00] per Common Share, for gross proceeds of approximately [C$25] million. [2,100,000] Flow-Through Common Shares will be offered at a price of [C$2.40] per Flow-Through Common Share for gross proceeds of approximately [C$5] million. [5,224,000] Charity Flow-Through Common Shares will be offered at a price of [C$2.68] per Charity Flow-Through Common Share for gross proceeds of approximately [C$14] million. [1,638,000] Super Charity Flow-Through Common Shares will be offered at a price of [C$2.90] per Super Charity Flow-Through Common Share for gross proceeds of approximately [C$5] million. 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 Securities issued as Common Shares to cover over-allotments, if any. The Offering is expected to close on or about June 3, 2020 and is subject to Sabina receiving all necessary regulatory approvals.