SA - Seabridge Gold launches $105M bought-deal offering
Seabridge Gold (SA) entered into an agreement with Cantor Fitzgerald Canada Corporation under which Underwriters have agreed to purchase, on a bought deal basis 6.1M units at $17.25/unit.Gross proceeds would be ~$105M.Underwriters granted 30-day option to purchase additional units to a further 10% of the number of units sold at offer price for potential gross proceeds of up to ~$10.5M.Net proceeds will be used to fund the purchase from Pretivm Resources of the Snowfield Property which was announced today and pay the entire $100M up front cash payment payable in respect of the acquisition of the Snowfield Property and any surplus funds will be used for general working capital.Offer expected to close on or about Dec. 9, 2020
For further details see:
Seabridge Gold launches $105M bought-deal offering