Pursuant to the Equity Subscription Agreement Osisko has subscribed for 16 million units of Sable at a price of $0.13 per unit for a total of $2,080,000. Each unit consists of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant allows Osisko to purchase an additional common share of Sable for a period of three years at a price of $0.21 per common share. The subscription price of $0.13 per unit represents a 12% premium to Sable's 30-day volume-weighted average price per common share. Following the unit subscription, Osisko now owns approximately 9.86% of the issued and outstanding common shares of Sable on a non-diluted basis.