The net proceeds of the Offering will be used for the continued advancement of the Company’s Eskay Creek gold-silver project and for general corporate purposes
Skeena Resources closes C$73.5m bought deal financing. (Credit: dynamix on FreeImages)
Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena” or the “Company”) today announced the closing of the previously announced bought deal offering of 10,005,000 common shares of the Company (the “Common Shares”) at a price of C$7.35 per Common Share (the “Offering Price”) for gross proceeds of C$73,536,750 (the “Offering”), and which includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 1,305,000 Common Shares at the Offering Price.
Randy Reichert, Skeena’s President & CEO commented “We are very pleased to have successfully closed this C$73.5 million financing. These funds strongly position Skeena with the proceeds being used to complete key development milestones at the Eskay Creek Project including an on-site assay lab, earthworks and detailed engineering. We look forward to the work planned this summer as it represents a significant step in the advancement of Eskay Creek toward production.”
The Common Shares are offered by way of a prospectus supplement to the Company’s base shelf prospectus in all of the provinces of Canada, except the province of Québec, and by way of private placement in the United States.
BMO Capital Markets acted as sole bookrunner for the Offering, on behalf of a syndicate of underwriters which includes CIBC World Markets Inc., Raymond James Ltd., RBC Dominion Securities Inc., Desjardins Securities Inc., Clarus Securities Inc. and SCP Resource Finance LP (collectively, the “Underwriters”).
The net proceeds of the Offering will be used for the continued advancement of the Company’s Eskay Creek gold-silver project and for general corporate purposes.
No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
Source: Company Press Release