Seabridge Gold Secures $14.0 Million Private Placement
Seabridge Gold Secures $14.0 Million Private Placement
Toronto, Ontario--(Newsfile Corp. - November 9, 2018) - Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) (the "Company" or
"Seabridge") announced today that it has secured a non-brokered private placement of one million common shares of the
Company at a price of $14.00 per share for gross proceeds of $14,000,000. No commissions are payable on this transaction.
The proceeds from the financing will be used to fund general working capital requirements and a 2019 drill program at the
Company's 100% owned Snowstorm Project located in Nevada. (See our June 12, 2018
news release
for information on
Snowstorm).
The private placement is expected to close on or about November 23, 2018 and is subject to customary closing conditions
including, but not limited to, the approval of the TSX and the NYSE. The financing is being made by way of private placement in
Canada and the issued shares will be subject to a four-month hold period in Canada. Seabridge has granted the private placees
an option to increase the size of the private placement by an additional 250,000 common shares exercisable until December 24,
2018.
This press release is not 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 Gold holds a 100% interest in several North American gold resource projects. The Company's principal assets are
the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in
Canada's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category
please visit the Company's website at
http://www.seabridgegold.net/resources.php
.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts
responsibility for the adequacy or accuracy of this release.
All reserve and resource estimates reported by the Corporation were calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These
standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral
resources which are not mineral reserves do not have demonstrated economic viability.
Statements relating to planned exploration work at the Company's projects
and on the timing of completion of the
private placement
are "forward-looking information" within the meaning of Canadian securities legislation and
forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified
by words such as the following: expects, plans, aims, anticipates, believes, intends, estimates, projects, assumes,
potential and similar expressions
, and, being estimates, resource and reserve estimates are also forward-looking
statements
. Forward-looking statements also include reference to events or conditions that will, would, may, could
or should occur, including in relation to the use of proceeds from the
o
ffering. These forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they
are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to
differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties
related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes
in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill
projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the
interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents,
equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of
environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental laws and regulations and other government
requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the
Company's December 31, 201
7
Annual Information Form filed with SEDAR in Canada (available at www.sedar.com)
and the Company's Annual Report Form 40-F filed with the SEC on EDGAR (available at www.sec.gov/edgar.shtml).
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and CEO
For further information please contact:
Rudi P. Fronk, Chairman and CEO
Tel: (416) 367-9292
Fax: (416) 367-2711
Email:
NOT FOR DISSEMINATION IN THE UNITED
STATES
. FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS