"Bad news!" tweeted the 29-year-old fighter, who lives 20 minutes north of Charlottetown.
Saggo's tweet included a clip of the injury occurring. It shows the fighter moving backwards during a sparring session when he suddenly falls to the ground and grabs his ankle.
"What was that," he says in obvious pain. "Was that my ankle?"
Saggo (10-2) was slated to fight Polish submission specialist Marcin Bandel on a televised Fight Night card April 11 in Krakow.
Saggo is 1-1 in the UFC, with a victory over Josh Shockley last June and a loss to Paul (The Irish Dragon) Felder in October.
A native of Bolton, Ont., Saggo moved to P.E.I. to follow coach Paul Abel.