Seabridge Gold Closes US$100 Million in Financings

Core Viewpoint - Seabridge Gold Inc. has successfully closed a bought deal offering and a private placement, raising a total of approximately US$100 million to support its KSM gold-copper project and other corporate activities [1][2][5]. Financing Details - The bought deal offering consisted of 6,540,000 common shares priced at US$12.25 per share, generating gross proceeds of approximately US$80 million [1]. - The private placement involved 1,640,000 common shares, yielding gross proceeds of approximately US$20 million [2]. Use of Proceeds - Net proceeds will be allocated to payments to BC Hydro for the KSM switching station, completion of field data collection for a bankable feasibility study, and funding ongoing activities at the KSM project [3]. - The financing will also support general corporate purposes [3]. Management Commentary - Seabridge's Chairman and CEO, Rudi Fronk, emphasized that the financing will maintain momentum at the KSM project while engaging with potential joint-venture partners [4]. - The program aims to gather necessary field data for the feasibility study and secure priority status with BC Hydro for low-cost green energy [4]. Company Overview - Seabridge Gold holds a 100% interest in several North American gold projects, with the KSM project being its principal asset located in British Columbia [7].