Seabridge Gold Will Use Proceeds From Financing to Buy Snowfield Property

Seabridge Gold Inc. has successfully closed its previously announced bought deal financing consisting of 6,710,000 common shares at a price of US$17.25 per share for gross proceeds of US$115.7 million inclusive of the exercise of the entire over-allotment option held by the Underwriters. Proceeds will be used to fund the purchase the Snowfield Property from Pretivm Resources Inc., which was announced on December 4. Proceeds from the financing will pay the entire US$100 million up-front cash payment payable in respect of the acquisition of the Snowfield Property, the expenses related to the acquisition, with the remainder used for general working capital.

The closing of the Snowfield acquisition is expected on or before December 16. Seabridge holds a 100% interest in several North American gold projects. The company’s principal assets are the KSM and Iskut projects located near Stewart, British Columbia, Canada, and the Courageous Lake gold project located in Canada’s Northwest Territories. Cantor Fitzgerald Canada Corp. acted as lead underwriter and sole bookrunner on behalf of itself and a syndicate of underwriters including B. Riley Securities Inc., Canaccord Genuity Corp., Roth Capital Partners LLC and Red Cloud Securities Inc.

As featured in Womp 2021 Vol 01 - www.womp-int.com