Seabridge Gold completes $37.73M bought deal financing

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By CPE News

Toronto (pcJ News Briefs) – Seabridge Gold Inc. (TSX: SEA; NYSE: SA) has completed previously announced bought deal flow-through financing of 1,100,000 flow-through common shares at $20.00 per FT share for gross proceeds of $22,000,000. On April 19, 2017, Seabridge Gold closed the common equity part of the bought deal financing of 1,100,000 common shares at $14.30 per share for gross proceeds of $15,730,000,

The offering was co-led by Canaccord Genuity Corp. and Cantor Fitzgerald Canada Corporation and included Paradigm Capital Inc.

DuMoulin Black LLP and Carter Ledyard & Milburn LLP acted as Canadian and US legal counsel to Seabridge Gold while Blake, Cassels & Graydon LLP and Katten Muchin Rosenman LLP acted as legal counsel to the underwriters.

Seabridge intends to use the net proceeds from the common share offering to continue to advance the company’s KSM and Iskut Projects and for general corporate purposes. Gross proceeds from the FT share offering will be used to fund the 2017 exploration program at its KSM and Iskut projects.

Seabridge Gold holds a 100% interest in several North American gold resource projects. The company’s principal assets are the KSM and Snip Gold properties located near Stewart, British Columbia and Courageous Lake gold project located in Northwest Territories.

photo credit: Seabridge Gold