Skeena Gold & Silver Announces Pricing of US$750 Million Senior Secured Notes Offering to Refinance Former Project Financing and to Fund Partial Buyback of Existing Gold Stream

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[{"type":"text","content":"Skeena Gold & Silver Announces Pricing of US$750 Million Senior Secured Notes Offering to Refinance Former Project Financing and to Fund Partial Buyback of Existing Gold Stream\nVANCOUVER, British Columbia, April 02, 2026 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) announces the pricing of its offering (the “Offering”) of US$750 million aggregate principal amount of 8.500% Senior Secured Notes due 2031 (the “Notes”). The Offering is expected to close on or about Friday April 10, 2026, subject to customary conditions. All references to dollars ($) in this news release are in United States (“US”) dollars. The Notes will be fully and unconditionally guaranteed by certain of the Company’s subsidiaries relating to its Eskay Creek project and will be secured by a first priority lien on certain of the Company’s and the guarantors’ property, including equity interests, the Segregated Accounts (as defined below) and interests in the Eskay Creek project. Skeena intends to use approximately US$184 million of the proceeds from the Offering to fund the Stream Buy-Down (as defined below); an estimated US$94 million to fund an interest reserve account which will contain the first three semi-annual interest payments due under the Notes; and the remaining proceeds to fund a disbursement account with funds to be used to advance the Eskay Creek project to pay certain fees and expenses; and to add cash to Skeena’s balance sheet for, among other things, general corporate purposes. Pursuant to an agreement between Skeena and the stream purchasers under the Company’s existing US$200 million gold stream (the “Stream Purchasers”), Skeena intends to buy down the Stream Agreement (as defined below) by making a lump-sum payment of approximately US$184 million to the Stream Purchasers in exchange for a reduction of the stream percentage deliverable from production at the Eskay Creek project to the Stream Purchasers by 66.67% (the “Stream Buy-Down”). In connection with the Offering and the Stream Buy-Down, the Company entered into an amended stream agreement (the “Stream Agreement”) with Orion and certain of its affiliates...

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