TORONTO – Seabridge Gold is making a private placement of 1.1 million flow-through shares worth $24 million with a syndicate of underwriters led by Stonecap Securities. The price is $21.85 per share, a 20% premium on the recent closing price of Seabridge shares.
The proceeds of the offering will be used for exploration and development of Seabridge’s KSM gold-copper project in British Columbia and its Courageous Lake gold project in the Northwest Territories. Both projects are at an advanced exploration stage. This year the company discovered two new high grade gold zones, one at each of the projects.
For a breakdown of Seabridge’s mineral reserves and resources by project and category please visit the company’s website at SeabridgeGold.net/Resources.php.