Sassy Resources Corporation (“Sassy” or the “Company“) is pleased to announce that trading of its common shares commences today, Monday, August 17, on the Canadian Securities Exchange (CSE) under the symbol “SASY“.
Sassy Resources Corporation became a reporting issuer in the provinces of British Columbia and Alberta upon the closing of its spinout Plan of Arrangement from Enduro Metals Corporation (TSXV: ENDR) (formerly Crystal Lake Mining) on February 18, 2020.
Mr. Mark Scott, Sassy Chief Executive Officer, commented: “On behalf of the Board of Directors and Executive Officers of Sassy Resources, I am very pleased Sassy has received final listing approval from the CSE. This is a significant milestone in the development of the Company and supports the execution of our capital and operations strategy moving forward.
I am equally pleased that Sassy has initiated its maiden exploration program at the Foremore Gold-Silver Project, with Phase I of a planned two-phase drilling program for 2020 having started on July 20.
“Foremore consists of 35 mineral claims covering 146 sq. km of high-grade gold-silver targets in the Eskay Camp district in the heart of Northwest B.C.’s prolific Golden Triangle,” Mr. Scott continued. “Sassy looks forward to sharing more detail about the exciting Foremore Gold-Silver Project and the initial results of our work in the weeks ahead. Since May we have raised approximately $3.5 million at hard dollar prices of 25 cents (May) and 30 cents (July) per share to execute at Foremore and prepare for fall/winter activity elsewhere. As the name suggests, Sassy is going to be lively, bold and full of spirit.”
Sassy Share Structure
Sassy features an attractive share structure with a total of only 29,082,961 shares currently issued and outstanding. This total includes 10 million shares issued to Enduro (formerly Crystal Lake) shareholders in a dividend spinout earlier this year.
Four-month holds on the May and July 2020 financings (5.7 million shares issued in May and 6.5 million shares issued in July) expire September 22 and November 29, 2020, respectively, leaving 15,055,816 shares free-trading as of August 17 (1,814,184 shares currently subject to escrow will be released in equal instalments every six months for the next 36 months).
Just under 17.2 million warrants are outstanding, mostly from the May and July private placements with 30-month expiry dates, for the potential to add another $6.3 million to the Company’s treasury.
The Sassy Team
- Mark Scott (President, CEO, Director) was most recently Vice President of Vale Canada and head of its Manitoba Operations, overseeing all aspects of the operation;
- Sean McGrath (CFO) has spent more than 20 years providing financial management and consulting services to publicly traded companies, with primary emphasis in the resource sector;
- Ian Fraser (P.Geo., VP-Exploration), an expert in geological models and structural settings, has enjoyed a successful 30-year career in the resource sector, working with numerous junior and senior mining and exploration companies;
- Rob Stewart (P.Geo., Independent Director) was most recently Manager of Regional Exploration and Mines Geology for Vale Canada’s Manitoba Operations. He has played a critical role in the discovery and development of multiple mineral deposits and ore bodies over the course of his 30-year career;
- Kate McLaughlin (P.Eng., Independent Director) has 25 years of technical, operations and leadership experience with Noranda, Falconbridge, Xstrata, Vale and Stantec. She is currently Innovation Leader for Stantec’s Energy & Resources operating unit;
- Richard Savage (Director) brings extensive capital markets’ experience to Sassy after 28 years at Yorkton Securities where he completed his career as Senior Vice-President;
- Dr. Peter Lightfoot (Lightfoot Geoscience – Technical Advisor) is one of the world’s foremost nickel sulphide experts. His unique insights into the Eskay Camp in recent years have contributed to important new discoveries in this prolific district;
- Mike Middleton (Middleton Geoscience – Technical Advisor) is a highly regarded B.C. prospector with more than three decades of industry experience. Foremore has been a prominent project in his portfolio and his experience at Foremore is an invaluable asset to the Sassy team.