Mr. Rudi Fronk reports
SEABRIDGE GOLD RECEIVES $3.5 MILLION IN OPTION EXERCISE
The 250,000-share option associated with Seabridge Gold Inc.'s recently completed $14-million financing has been fully exercised, resulting in an additional $3.5-million in proceeds to the company (see news release dated Nov. 26, 2018). The proceeds from the financing will be used to finance general working capital requirements and a 2019 drill program at the company's 100-per-cent-owned Snowstorm project located in Nevada. (See the company's June 12, 2018, news release for information on Snowstorm.)
The financing was made by way of a private placement, and the issued shares are subject to a four-month hold period in Canada expiring on April 15, 2019. There were no commissions payable on the $3.5-million option exercise or the original $14-million financing.
Seabridge Gold holds a 100-per-cent interest in several North American gold resource projects. The company's principal assets are the KSM and Iskut properties, located near Stewart, B.C., Canada, and the Courageous Lake gold project, located in Canada's Northwest Territories.
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