Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) announced today that it has closed its previously announced non-brokered private placement of one million common shares of the Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions were payable on this transaction. 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 March 24, 2019. Seabridge has granted a private placee an option to increase the size of the private placement by an additional 250,000 common shares exercisable until December 24, 2018.
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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