Skeena Resources Limited (TSX: SKE) (NYSE: SKE) announced the closing of the previously announced bought deal offering of 5,702,479 common shares of the Company at a price of C$6.05 per Common Share for gross proceeds of C$34,499,997, and which includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 743,801 Common Shares at the Offering Price.
The Common Shares are offered by way of a prospectus supplement to the Company’s base shelf prospectus in all of the provinces of Canada, except the province of Québec, and are offered in the United States pursuant to the Company’s registration statement on Form F-10 (File No. 333-267434) filed under the multi-jurisdictional disclosure system adopted by the United States and Canada, and on a private placement basis in certain jurisdictions outside Canada and the United States pursuant to applicable prospectus exemptions.
Raymond James Ltd. acted as sole bookrunner for the Offering, on behalf of a syndicate of underwriters which includes BMO Nesbitt Burns Inc., Clarus Securities Inc., Canaccord Genuity Corp., and RBC Dominion Securities Inc.
The net proceeds of the Offering will be used by the Company to exercise its right (subject to the terms and conditions of the Company’s buy-back rights) to buy down a 0.5% NSR royalty currently held by Barrick Gold Corporation, for a payment of C$17.5mm, as well as general administration and corporate purposes.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a Feasibility Study for Eskay Creek in September 2022 which highlights an open-pit average grade of 4.00 g/t AuEq, an after-tax NPV5% of C$1.4B, 50% IRR, and a 1-year payback at US$1,700/oz Au and US$19/oz Ag. Skeena is currently continuing exploration drilling at Eskay Creek.
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We acknowledge the [financial] support of the Government of Canada.