Canaccord is lead underwriter; deal funds exploration at KSM project
By Devika Patel
Knoxville, Tenn., March 10 – Seabridge Gold Inc. said it will raise C$14.24 million a private placement of shares through a syndicate of underwriters led by Canaccord Genuity Corp. The deal has a C$2.14 million greenshoe.
The company will sell 1.4 million flow-through common shares at C$10.17 apiece on a bought-deal basis. The price per share is a 22.38% premium to C$8.31, the closing share price on March 9.
Proceeds will be used for exploration at the company's KSM project.
Toronto-based Seabridge is a gold exploration company.
Issuer: | Seabridge Gold Inc.
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Issue: | Flow-through common shares
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Amount: | C$14,238,000
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Greenshoe: | C$2,135,700
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Shares: | 1.4 million
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Price: | C$10.17
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Warrants: | No
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Underwriters: | Canaccord Genuity Corp. (lead)
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Pricing date: | March 10
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Settlement date: | April 7
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Stock symbol: | Toronto: SEA
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Stock price: | C$8.31 at close March 9
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Market capitalization: | C$387.03 million
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