Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) announced today that the 250,000 share option associated with its recently completed $14 million financing has been fully exercised resulting in an additional $3.5 million in proceeds to the Company (see news release dated November 26, 2018). 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 financing was made by way of private placement and the issued shares are subject to a four-month hold period in Canada expiring on April 15, 2019. There were no commissions payable on the $3.5 million option exercise or the original $14 million financing.
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.
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