Skeena Resources closes $3M 1st tranche investment with Zijin and Sprott

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By CPE News

pcJ News Briefs – Skeena Resources Limited (TSX-V: SKE) has completed a first tranche of previously announced strategic investment by Gold Mountains Asset Management Co., Ltd., a subsidiary of Zijin Mining Group Company Limited (SHA: 601899) of China and certain clients and affiliates of the Sprott Group of Companies.

Pursuant to the investment agreement, Zijin and Sprot each agreed to subscribe for 41,666,667 flow through units for a total of 83,333,334 units at $0.072 per unit for gross proceeds of C$6,000,000.

photo credit: Skeena Resources Limited

News Release

Skeena Closes First Tranche of Strategic Investment

Vancouver, BC (October 10, 2017) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) is pleased to report that it has closed the first tranche of the strategic investment financing (the “Financing”) announced on October 2, 2017. The Company expects to close the balance of the Financing before October 20, 2017.

Skeena collected gross proceeds of C$3,000,000 from the sale of 41,666,668 flow through units (the “Units”) at a price of C$0.072 per Unit. Each Unit consists of one flow through common share and one half of a warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional non-flow through common share of Skeena at a price of C$0.10 for 24 months following closing.

The net proceeds of the Financing will be used to fund ongoing exploration programs. All of the securities issued under the Financing will be subject to a hold period of 4 months from the closing date of the offering. Finders’ fees may be payable to qualified finders in accordance with applicable regulations.

About Skeena

Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle region of northwest British Columbia, Canada. The Company’s primary activities are the exploration and development of the past-producing Snip gold mine, acquired from Barrick Gold, and the past-producing Porter Idaho silver mine. The Company also recently announced Preliminary Economic Assessment results for the Spectrum-GJ copper-gold porphyry project.

On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.