Seabridge Gold Announces Closing of C$8.7 Million Cross-Border Public Offering of Common Shares
April 29 2016 - 7:57AM
Seabridge Gold Inc. (TSX:SEA)(NYSE:SA) (the “Company” or
“Seabridge”) announced today that it has closed its previously
announced cross-border public offering (the “Public Offering”) of
common shares of the Company (the “Common Shares”). The
Public Offering was completed by a syndicate of underwriters led by
Canaccord Genuity Corp. and including National Bank Financial Inc.
and Paradigm Capital Inc. (together, the “Underwriters”) to sell
450,000 Common Shares at a price of C$17.40 per Common Share for
aggregate gross proceeds of C$7,830,000.
The Company had also granted the Underwriters an
over-allotment option to purchase up to an additional 50,000 Common
Shares at a price of C$17.40 per common share for additional gross
proceeds of up to C$870,000. This over-allotment option has been
exercised in full for total offering gross proceeds of
C$8,700,000.
The Company intends to use the net proceeds from
the Public Offering to continue to advance the Company’s KSM
Project and for general corporate purposes.
This press release does not and shall not
constitute an offer to sell or the solicitation of an offer to buy
any Common Shares, nor shall there be any sale of Common Shares in
any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such province, state or
jurisdiction.
Seabridge holds a 100% interest in several North
American gold resource projects. The Company’s principal assets are
the KSM Project located near Stewart, British Columbia, Canada and
the Courageous Lake Project located in Canada's Northwest
Territories.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor
their Regulation Services Providers accepts responsibility for the
adequacy or accuracy of this release.
Statements relating to the estimated or expected future
production and operating results and costs and financial condition
of Seabridge, planned exploration work at the Company's projects
and the expected results of such work are forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the
following: expects, plans, anticipates, believes, intends,
estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including
in relation to the use of proceeds from the Public Offering. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable at the
time they are made, are inherently subject to a variety of risks
and uncertainties which could cause actual events or results to
differ materially from those reflected in the forward-looking
statements, including, without limitation: the need to satisfy
regulatory and legal requirements with respect to planned
exploration programs; uncertainties involved in the interpretation
of drilling results and other tests and the estimation of gold
reserves and resources; the need to obtain permits and comply with
environmental laws and regulations and other government
requirements and other risks and uncertainties, including those
described in the Company's December 31, 2015 Annual Information
Form filed with SEDAR in Canada (available at www.sedar.com) and
the Company's Annual Report Form 40-F filed with the SEC on EDGAR
(available at www.sec.gov/edgar.shtml).
ON BEHALF OF THE BOARD
"Rudi Fronk" Chairman and CEO
For further information please contact:Rudi P.
Fronk, Chairman and CEOTel: (416) 367-9292 · Fax:
(416) 367-2711Email: info@seabridgegold.net
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