Business
Skeena Closes Transaction to Acquire 100% of Eskay Creek
VANCOUVER, BC / ACCESSWIRE / October 5, 2020 / Skeena Resources Limited (TSX: SKE )(OTCQX: S...
About this update from Skeena Resources Limited
[{"type":"text","content":"Skeena Closes Transaction to Acquire 100% of Eskay CreekVANCOUVER, BC / ACCESSWIRE / October 5, 2020 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) (\"Skeena\" or the \"Company\") is pleased to announce that it has closed the previously announced transaction with Barrick Gold Corporation's wholly-owned subsidiary, Barrick Gold Inc. (\"Barrick\"). Skeena now owns 100% of the Eskay Creek gold-silver project (\"Eskay Creek\") located in the Golden Triangle of northwest British Columbia, Canada.At closing, Barrick was issued units of Skeena comprised of an aggregate: (i) 22.5 million common shares of Skeena; and (ii) warrants representing the right to acquire an additional 11.25 million common shares of Skeena. On the closing of the transaction, as at today, Barrick holds a total of 24,075,000 common shares of Skeena, or 12.4% of Skeena's currently issued and outstanding common shares.For further details regarding the transaction, please refer to the Company's press releases dated August 4, 2020 and July 6, 2020.About SkeenaSkeena Resources Limited is a junior mining company focused on developing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.On behalf of the Board of Directors of Skeena Resources Limited,Walter Coles Jr.President & CEOCautionary Note Regarding Forward-Looking StatementsCertain statements made and information contained herein may constitute \"forward looking information\" and \"forward looking statements\" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as \"anticipates\", \"believes\", \"targets\", \"estimates\", \"plans\", \"expects\", \"may\", \"will\", \"could\" or \"would\". Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, amo...