TORONTO – Seabridge Gold, sole owner of the KSM gold-copper project near Stewart, BC, has arranged a bought deal financing in the amount of $12 million. A syndicate of underwriters led by Canaccord Genuity has agreed to purchase 1.0 million flow-through common shares at a price of $12 per share.
Seabridge has granted the underwriters an overallotment of up to 150,000 additional shares. If the overallotment is taken up, the financing will total $13.8 million.
Proceeds from the offering will be used to expand the exploration program at KSM. Chairman and CEO Rudi Fronk says there are several newly identified high priority targets at the site, and additional drilling rigs would be deployed to test them.
For a breakdown of the KSM mineral reserves and resources by project and category please visit SeabridgeGold.net/resources.php.