Skeena Files Early Warning Report in Respect of Questex Gold & Copper Ltd. Acquisition

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[{"type":"text","content":"Skeena Files Early Warning Report in Respect of Questex Gold & Copper Ltd. AcquisitionVANCOUVER, BC / ACCESSWIRE / March 30, 2022 / Skeena Resources Limited (TSX:SKE, NYSE:SKE) (\"Skeena\") reports that, on March 29, 2022, it entered into an arrangement agreement (the \"Arrangement Agreement\") with QuestEx Gold & Copper Ltd. (\"QuestEx\") whereby Skeena agreed to acquire, subject to the terms and conditions thereof, ownership and control of all of the issued and outstanding Common Shares of QuestEx (the \"Common Shares\") not owned by Skeena from the shareholders of QuestEx pursuant to an arrangement undertaken in accordance with the provisions of the Business Corporations Act (British Columbia) (the \"Arrangement\").Except with respect to the consideration payable to Newmont Corporation (\"Newmont\") which will be satisfied pursuant to the issuance of a promissory note (as discussed below), in consideration for the acquisition of each Common Share not held by Skeena, Skeena will pay $0.65 in cash and issue 0.0367 Skeena common shares (the \"Consideration\"). Based on the 5 day volume-weighted average price of the Skeena common shares on the TSX for the 5 day period ending March 29, 2022, the Consideration payable for each Common Share not owned by Skeena is approximately $1.20.In respect of the Consideration payable and issuable to Newmont Corporation (\"Newmont\"), Skeena will issue to Newmont a promissory note representing its entitlement to the Consideration instead of issuing Skeena common shares and paying cash to Newmont on the closing of the Arrangement.Assuming no Common Shares are issued prior to the closing of the Arrangement, and taking into account the promissory note issuable to Newmont, Skeena will pay $18,474,588.60 and issue 1,043,103 Skeena shares on the closing of the Arrangement, less any fractional shares rounded down pursuant to the provisions of the Arrangement Agreement.On the date hereof, Skeena owns 5,668,642 Common Shares, representing 14.0% of the issued and outstanding Common Shares of QuestEx. Upon completion of the Arrangement, Skeena will own all of the issued and outstanding Common Shares of QuestEx. Assuming no Common Shares are issued prior to the closing of the Arrangement, Skeena will acquire 34,807,205 Common Shares on the closing of the Arrangement.Skeena is acquiring QuestEx in order ...

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