. Failure to Comply with This Restriction May Constitute a Violation of United States Securities Laws
NOT FOR DISSEMINATION IN THE UNITED STATES
. FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS
News Release
Trading Symbols:
TSX: SEA
F
OR
I
MMEDIATE
R
ELEASE
NYSE: SA
June 11
, 2020
Seabridge
Gold
Closes
$
11.36
Million
Bought
Deal
Private
Placement
of
Flow
-
Through
Shares
at
$
32.94
Per
Share
Toronto, Canada
–
Seabridge Gold
Inc. (“Seabridge” or the “Company”)
announced today that it has
closed its previously
announced bought deal financing
with Cantor Fitzgerald Canada Corporation as sole bookrunner and lead underwriter
on behalf of a syndicate of underwriters including B. Riley FBR, Inc. Canaccord Genuity Corp
. and Roth Capital
Partners, LLC (together, the "Underwriters"), under which the Underwriters have
purchased 345
,000 flow
-
through
common shares
of the Company
(the "Flow
-
Through Shares") at a price of $
32.94
per share
, for total gross proceeds of
approxim
ately $11.36 million
(the "Offering"). The
345,000 shares include exercise of the entire 15% over
-
allotment
option granted to the Underwriters.
The Company intends to use the gross proceeds from the sale of the Flow
-
Through Shares for Canadian
E
xploration
E
xpenses
(“CEE”)
within the meaning of the
Income Tax Act
(Canada)
to
explore
the Company's mineral properties in
British Columbia. The Company
has also agreed to renounce such C
EE
with an effective date of no later than December
31, 2020. The Flow
-
Through Shares issued
are
subject to a statutory
four month
hold period in accordance with
applicable securities legislation.
This press release is no
t an offer of
common shares
for sale in the United States.
The
common shares
may not be offered
or sold in the United States absent registration or an available exemption from the registration requirements of the US.
Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable U.S. state securities laws.
Seabridge
will
not make any public offering of the securities in the United States. The
common shares
have not been and will not be
registered under the U.S. Securities Act, or any state securities laws.
This press 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 jurisdiction in which such offer, solicitation or sale would be unlawful.
Seabridge holds a 100% interest in several North American gold projects. The Company's p
rincipal assets are the KSM
and Iskut Projects located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in
Canada's Northwest Territories. For a full breakdown of Seabridge's mineral reserves and mineral resources by cate
gory
please visit the Company's website at
http://www.seabridgegold.net/resources.php
.
None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers accepts
re
sponsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman & C.E.O.
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367
-
9292
Fax: (416) 367
-
2711
Email: