On closing Seabridge issued 695,277 shares to acquire SnipGold, at an exchange ratio of one share of Seabridge for 63 outstanding shares of SnipGold Corp.
Up to approximately 60,550 additional Seabridge shares may be issuable upon exercise of outstanding options and warrants originally issued by SnipGold, but now exercisable to acquire Seabridge shares.
Seabridge Gold holds a 100% interest in several North American gold resource projects.
The Company’s principal assets are the KSM and SnipGold properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories.
