9 December 2020
Seabridge Gold Inc. announced today that it has successfully closed its previously announced bought deal financing consisting of 6,710,000 common shares ("Common Shares") at a price of US$17.25 per share for gross proceeds of US$115.7 million inclusive of the exercise of the entire over-allotment option held by the Underwriters.
Cantor Fitzgerald Canada Corporation acted as lead underwriter and sole book-runner on behalf of itself and a syndicate of underwriters including B. Riley Securities, Inc., Canaccord Genuity Corp., Roth Capital Partners, LLC and Red Cloud Securities Inc.
Proceeds from the offering will be used by the Company to fund the purchase from Pretivm Resources Inc. of the Snowfield Property which was announced on December 4, 2020. Proceeds from the financing will pay the entire US$100 million up front cash payment payable in respect of the acquisition of the Snowfield Property, the expenses related to the acquisition, with the remainder used for general working capital. Closing of the Snowfield acquisition is expected on or before December 16. 2020.