Seabridge Gold Inc. announced on February 19, 2025, the successful closing of US$100 million in financings. This includes a bought deal offering of 6,540,000 common shares at US$12.25 per share, generating approximately US$80 million in gross proceeds.
Additionally, the company closed a private placement with a strategic investor for 1,640,000 common shares on substantially the same terms, contributing approximately US$20 million in gross proceeds. The common shares issued under the private placement are subject to a statutory four-month hold period.
Net proceeds from these financings will be allocated to payments for the KSM switching station to BC Hydro, a program to collect remaining field data for a KSM bankable feasibility study, and other ongoing activities at the KSM gold-copper project. These funds are crucial for maintaining momentum at KSM and evaluating engineering alternatives proposed by prospective joint-venture partners.
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