Non-brokered deal finances diamond drill program on the Snip property
By Devika Patel
Knoxville, Tenn., July 18 – Skeena Resources Ltd. said it raised C$3.93 million in the second tranche of a C$7.73 million non-brokered private placement of units. The deal priced for C$6 million on June 9 and raised C$3.8 million on June 29; the company expects to settle a third and final tranche.
The company is selling flow-through units of one flow-through common share and one half-share warrant at C$0.104 per unit and units of one common share and one half-share warrant at C$0.08 per unit. It sold 47.29 million units for C$3,783,200 and 200,000 flow-through units for C$20,800 in the initial tranche and 13,067,500 units for C$1,045,400 and 27,737,690 flow-through units for C$2,884,720 in the second tranche.
Each whole warrant is exercisable for three years at C$0.12 in the first year, at C$0.14 in the second year and at C$0.16 in the third year. The strike prices are 20%, 40% and 60% premiums to the June 8 closing share price of C$0.10.
Proceeds will be used for a diamond drill program on the Snip property, exploration programs on the Spectrum and GJ properties and general working capital purposes.
Based in Vancouver, B.C., Skeena is a gold exploration company.
| Issuer: | Skeena Resources Ltd.
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| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
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| Amount: | C$7,734,120
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.12 in the first year, C$0.14 in the second year and C$0.16 in the third year
|
| Agent: | Non-brokered
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| Pricing date: | June 9
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| Settlement date: | June 29 (for C$3,804,000), July 18 (for C$3,930,120)
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| Stock symbol: | TSX Venture: SKE
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| Stock price: | C$0.10 at close June 8
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| Market capitalization: | C$45.56 million
|
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|
| Flow-through units
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| Price: | C$0.104
|
|
|
| Units
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| Price: | C$0.08
|
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