Canadian Mining Journal


COPPER-GOLD: Private placement raises $14.6M for Seabridge

TORONTO – Seabridge Gold has closed a non-brokered private placement involving the issuance and sale of 1.8 million common shares. Each share was priced at $8.10, grossing a total of $14.58 million. The bulk of the shares (1.5 million) were purchased by FCMI Parent Co.

The money raised will be used to meet ongoing property holding obligations and corporate general and administrative costs. The company’s 2015 exploration program at the KSM copper-gold project 65 km northwest of Stewart, BC, is fully funded. Seabridge plans another flow-through share offering sometime in the future when it needs it needs additional exploration cash.

The KSM project has 44.70 million oz of gold and 9.89 billion lb of copper in reserves (2.16 billion proven and probable tonnes at 0.55 g/t Au and 0.21% Cu).

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