By Sheri Kasprzak
New York, Sept. 27 - Seabridge Gold Corp. said it has arranged a private placement for C$5 million.
The company plans to sell 1 million shares at C$5.00 each its largest shareholder, Pan Atlantic Bank and Trust Ltd. The price per share is a 4.8% discount to the company's closing stock price of C$5.25 on Monday.
Proceeds from the deal will be used for exploration of two of the company's Nevada projects and for working capital.
Based in Toronto, Seabridge is a gold exploration company.
| Issuer: | Seabridge Gold Corp.
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| Issue: | Stock
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| Amount: | C$5 million
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| Shares: | 1 million
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| Price: | C$5.00
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| Warrants: | No
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| Investor: | Pan Atlantic Bank and Trust Ltd.
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| Pricing date: | Sept. 27
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| Stock price: | C$5.90 at close Sept. 27
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