Mr. Walter Coles reports
SKEENA CLOSES C$7 MILLION FLOW-THROUGH FINANCING
Skeena Resources Ltd., subject to the acceptance of the Toronto Stock Exchange, has closed its previously announced non-brokered private placement offering. Pursuant to the offering, Skeena issued a total of 346,364 flow-through shares at a price of $20.21 per share for aggregate gross proceeds to the company of approximately $7-million. This financing facilitated the introduction of Ausenco Engineering Canada Inc. as a strategic investor in Skeena.
The net proceeds of the offering will be used to finance exploration activities on the company's projects in the Golden Triangle of British Columbia. The securities issued under the offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing date. No finders' fees will be paid in connection with this offering.
About Skeena Resources Ltd.
Skeena is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan territory in the Golden Triangle of northwest British Columbia, Canada. The company released a prefeasibility study for Eskay Creek in July, 2021, which highlights an open-pit average grade of 4.57 grams per tonne gold equivalent, an after-tax net present value discounted at 5 per cent of $1.4-billion, a 56-per-cent internal rate of return and a 1.4-year payback at $1,550 (U.S.) per ounce gold. Skeena is currently completing both infill and exploration drilling to advance Eskay Creek to full feasibility by first quarter 2022. Additionally, the company continues exploration programs at the past-producing Snip gold mine.
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