Business
Seabridge Gold Announces Agreement for At-The-Market Offering
Toronto, Ontario--(Newsfile Corp. - January 6, 2023) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) ...
About this update from Seabridge Gold Inc
[{"type":"text","content":"Seabridge Gold Announces Agreement for At-The-Market OfferingToronto, Ontario--(Newsfile Corp. - January 6, 2023) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the \"Company\" or \"Seabridge\") announces that it has entered into a Controlled Equity OfferingSM Sales Agreement dated January 6, 2023 (the \"Sales Agreement\") with Cantor Fitzgerald & Co. (the \"Lead Agent\") and B. Riley Securities, Inc. (collectively with the Lead Agent, the \"Agents\"). Pursuant to the Sales Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the Sales Agreement, to sell, through the Lead Agent, such number of common shares of the Company (the \"Common Shares\") that would result in aggregate gross proceeds to the Company of up to US$100 million (the \"Offering\" or \"ATM Facility\"). Sales of the Common Shares, if any, will be made in \"at the market distributions\", as defined in National Instrument 44-102 - Shelf Distributions, directly on the New York Stock Exchange (\"NYSE\") or on any other existing trading market in the United States. No offers or sales of Common Shares will be made in Canada through the facilities of the Toronto Stock Exchange or other trading markets.The program can be in effect until Seabridge's current US$750 million Shelf Registration Statement expires in January 2025. Net proceeds from the ATM Facility, if any, will be used to advance non-flow through eligible exploration and advancement of the Company's projects, potential future acquisitions, and for working capital and general corporate purposes.Seabridge Chairman and CEO Rudi Fronk noted that the Company has had a similar ATM facility in place for many years. \"This agreement replaces a previous agreement which has expired. We have found that our ATM programs in the past have enabled us to raise funds when needed at lower costs and with greater flexibility than more traditional financings. Any share issuance under the ATM is fully disclosed in our financial statements.\"The Offering will be made by way of a prospectus supplement dated January 6, 2023 (the \"Prospectus Supplement\") to the Company's existing Canadian short form base shelf prospectus and U.S. registration statement on Form F-10, as amended (File No. 333-268485), dated December 23, 2022 and December 27, 2022, respectively (collectively the \"Offering...