Seabridge Gold secures $14-million private placement
SEABRIDGE GOLD Inc. has secured a non-brokered private placement of one million common shares of the company at a price of $14 per share for gross proceeds of $14-million. No commissions are payable on this transaction. The proceeds from the financing will be used to finance general working capital requirements and a 2019 drill program at the company’s 100-per-cent-owned Snowstorm project located in Nevada (see the company’s June 12, 2018, news release for information on Snowstorm).
The private placement is expected to close on or about Nov. 23, 2018, and is subject to customary closing conditions, including, but not limited to, the approval of the Toronto Stock Exchange and the New York Stock Exchange. The financing is being made by way of private placement in Canada and the issued shares will be subject to a four-month hold period in Can ada. Seab ridge has granted the private placees an option to increase the size of the private placement by an additional 250,000 common shares exercisable until Dec. 24, 2018.
Seabridge Gold holds a 100-per-cent interest in several North American gold resource projects. The Company’s principal assets are the KSM and Iskut properties located near Stewart, B.C., Canada, and the Courageous Lake gold project located in Canada’s Northwest Territories.
We seek Safe Harbor.
Armine Frederick Banfield, Rudi P Fronk, Eliseo Gonzalez-Urien, Richard Carl Kraus, Jay Scott Layman, Clement Armand Pelletier, John William Sabine, Gary A Sugar
(SEA) Shares: 59,434,749