Business
Seabridge Gold Secures $14.0 Million Private Placement
Toronto, Ontario--(Newsfile Corp. - November 9, 2018) - Seabridge Gold Inc. (TSX: SEA) (NYSE: ...
About this update from Seabridge Gold Inc
[{"type":"text","content":"Seabridge Gold Secures $14.0 Million Private PlacementToronto, Ontario--(Newsfile Corp. - November 9, 2018) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the \"Company\" or \"Seabridge\") announced today that it has secured a non-brokered private placement of one million common shares of the Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions are payable on this transaction. The proceeds from the financing will be used to fund general working capital requirements and a 2019 drill program at the Company's 100% owned Snowstorm Project located in Nevada. (See our June 12, 2018 news release for information on Snowstorm).The private placement is expected to close on or about November 23, 2018 and is subject to customary closing conditions including, but not limited to, the approval of the TSX and the NYSE. The financing is being made by way of private placement in Canada and the issued shares will be subject to a four-month hold period in Canada. Seabridge has granted the private placees an option to increase the size of the private placement by an additional 250,000 common shares exercisable until December 24, 2018. This press release is not an offer of common shares for sale in the United States. The common shares may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the US. Securities Act of 1933, as amended (the \"U.S. Securities Act\") and applicable U.S. state securities laws. Seabridge will not make any public offering of the securities in the United States. The common shares have not been and will not be registered under the U.S. Securities Act, or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company's principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category please visit the Company's website at http://www.seabridgegol...