BRITISH COLUMBIA – Toronto’s Seabridge Gold has agreed to issue 1.4 million flow through shares at a price of $10.17 per share to a syndicate of underwriters lead by Canaccord Genuity. The underwriters have also been granted an overallotment of another 210,000 shares at the same price.
Proceeds from the sale will be used to advance exploration at Seabridge’s KSM gold-copper project 65 km northwest of Stewart. The property contains proven and probable reserves of 2.16 billion tonnes grading 0.55 g/t Au, 0.21% Cu, 2.74 g/t Ag, and 44.7 ppm Mo. Reserves alone are estimated to contain 38.2 million oz of gold and 9.89 billion lb of copper.
Seabridge chairman and CEO Rudi Fronk said in a release that the company’s 2015 exploration program will continue to focus on discovering and expanding higher grade core zones that have the potential to enhance projected economics. “Growing gold ownership per share continues to be a key objective for Seabridge,” he noted
Please see the March 2015 corporate presentation at SeabridgeGold.net for further information.