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Seabridge Gold Closes $13.8 Million Flow-Through Financing
TSX: SEA    NYSE: SA  TORONTO , July 22, 2014 /CNW/ - Seab...
About this update from Seabridge Gold Inc
[{"type":"text","content":"\n\n\nTSX: SEA    \nNYSE: SA \n\n\nTORONTO, July 22, 2014 /CNW/ - Seabridge Gold Inc. (TSX:SEA)(NYSE:SA)\n (the \"Company\") announced today that it has closed its previously\n announced $13.8 million bought deal financing (the \"Offering\")\n consisting of 1.15 million flow-through common shares at a price of\n $12.00 per flow-through common share (a 23.5% premium to the closing\n price on the TSX the day the financing was announced). Gross proceeds\n include exercise of the 15% over-allotment greenshoe. The financing was\n arranged by a syndicate of underwriters, led by Canaccord Genuity Corp.\n and including National Bank Financial Inc. Canaccord Genuity Corp. and\n Cowen and Company, LLC acted as financial advisors to the Company on\n this transaction.\n\n\nThe gross proceeds from the Offering will be used to fund an increased\n exploration program at the Company's 100% owned KSM Project in\n northwestern British Columbia.\n\n\nSeabridge Chairman and CEO Rudi Fronk noted that, \"This financing\n enables us to commit the necessary resources for an expanded 2014\n program at KSM. We have been refining the targeting data obtained from\n the geophysical surveys completed this spring. This work has helped us\n to establish additional high-priority opportunities that we would like\n to test this year if possible. This financing will enable us to\n increase the number of rigs in the program.\"\n\n\n\"As with all our exploration spending, we expect to generate additional\n gold and copper resources which will more than offset the share\n dilution involved. Growing gold ownership per share continues to be a\n key objective for Seabridge,\" Fronk stated.\n\n\nThe Offering was made by way of private placement in Canada and the\n shares are subject to a four month hold period expiring on November 23,\n 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 website at http://www.seabridgegold.net/resources.php.\n\n\nThis news release does not constitute an offer to sell or a solicitat...