Seabridge Gold Closes $16.4 Million Financing

Seabridge Gold (TSX:SEA) has closed its previously announced bought deal equity flow-through financing for aggregate gross proceeds of roughly $16.4 million. Proceeds will be used to fund a 2015 exploration program at Seabridge’s KSM project in Northwestern British Columbia.

As quoted in the press release:

The Offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp. and included National Bank Financial Inc. and Paradigm Capital Inc. Canaccord Genuity Corp. and Cowen and Company, LLC acted as financial advisors to the Company on the Offering.

Seabridge chairman and CEO, Rudi Fronk, said:

our 2015 exploration program will continue to focus on discovering and expanding higher grade core zones that have the potential to enhance KSM’s projected economics. We expect this year’s program to once again generate additional gold resources which more than offset the share dilution involved. Growing gold ownership per share continues to be a key objective for Seabridge.

Click here to read the Seabridge Gold (TSX:SEA) press release