- Under the ATM, the company may sell up to US$100 million in common shares
- The program will be in effect until January 2025
- Net proceeds from the ATM will be used for working capital and general corporate purposes
- Seabridge Gold Inc is a development stage company focused on acquiring, exploring and developing gold properties in North America
- Seabridge Gold Inc. (SEA) opened trading at C$18.64
Seabridge Gold (SEA) has signed a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and B. Riley Securities, Inc.
Under the agreement, the company may sell up to US$100 million in common shares. Sales of the common shares, if any, will be made directly on the New York Stock Exchange or on any other existing trading market in the United States. No sales of common shares will be made in Canada.
The program can be in effect until Seabridge’s current US$750 million Shelf Registration Statement expires in January 2025.
Proceeds will be used to advance the exploration of the company’s projects and general corporate purposes.
Seabridge Chairman and CEO Rudi Fronk noted that the company has had a similar ATM facility in place for many years.
“This agreement replaces a previous agreement which has expired. We have found that our ATM programs in the past have enabled us to raise funds when needed at lower costs and with greater flexibility than more traditional financings. Any share issuance under the ATM is fully disclosed in our financial statements.”
Seabridge Gold Inc is a development stage company focused on acquiring, exploring and developing gold properties in North America. Seabridge holds a 100 per cent interest in several North American gold projects, including the KSM and Iskut projects in Northwest British Columbia, the Courageous Lake project in the Northwest Territories, the Snowstorm project in Northern Nevada and the 3 Aces project set in the Yukon Territory.
Seabridge Gold Inc. (SEA) opened trading at C$18.64.