Seabridge Closes $16.8 Million Flow-Through Financing

About this update from Seabridge Gold Inc

[{"type":"text","content":"\n\n\nTrading Symbols:\nTSX: SEA\nNYSE: SA\n\n\nTORONTO, Dec. 10, 2013 /CNW/ - Seabridge Gold Inc. (TSX:SEA)(NYSE:SA)\n announces that it has closed its previously announced $16.8 million\n bought deal financing consisting of 1.5 million flow-through common\n shares at a price of $11.17 per share (a 22.5% premium to the closing\n price on the TSX the day before the financing was announced).  The\n financing was arranged by a syndicate of underwriters, led by Stonecap\n Securities Inc. and including National Bank Financial Inc. Stonecap\n Securities Inc. and Cowen and Company, LLC acted as financial advisors\n to Seabridge on this transaction.\n\n\nThe gross proceeds from the Offering will be used to fund exploration\n and development at Seabridge's 100% owned KSM Project in north western\n British Columbia, Canada and in particular to follow up on this year's\n extraordinary Deep Kerr discovery where an initial resource estimate is\n now being prepared.\n\n\nSeabridge Chairman and CEO Rudi Fronk noted that the Company's\n management team believes this year's Deep Kerr core zone discovery has\n the potential to fundamentally transform Seabridge. \"This is a rare\n opportunity to define what we think could be one of the world's most\n productive new mining districts. We are confident that raising this\n money in a difficult environment to continue the KSM core zone drilling\n program next year represents an outstanding opportunity to deliver\n shareholder value. The final holes drilled this year confirm that the\n Deep Kerr zone widens substantially to the north while both copper and\n gold grades also improve significantly from an already high level. In\n our view, the best is yet to come and this funding ensures that we are\n able to proceed aggressively.\"\n\n\nThe financing was made by way of private placement to accredited\n Canadian investors and the shares are subject to a four month hold\n period in Canada expiring on April 11, 2014.\n\n\nSeabridge holds a 100% interest in several North American gold resource\n projects. The Company's principal assets are the KSM property located\n near Stewart, British Columbia, Canada and the Courageous Lake gold\n project located in Canada's Northwest Territories. For a breakdown of\n Seabridge's mineral reserves and resources by project and category\n please visit the Company's we...

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