Year End Audited Financial Statements and MD&A
News Release
Trading Symbols:
TSX: SEA
F
OR
I
MMEDIATE
R
ELEASE
NYSE
:
SA
March
27
,
20
20
Seabridge
Gold Files
201
9
Year End Audited Financial Statements and MD&A
Toronto, Canada
…
S
eab
r
id
ge Gold announced today that it has filed its Audited Consolidated
Financial Statements and its Management's Discussion and Analysis for the year ended December 31,
201
9
on SEDAR
(
www.sedar.com
)
and
are available on t
he Company
’
s
website at
www.seabridgegold.net
. Seabridge
’
s
Form 40
-
F
will be
filed with the SEC on EDGAR (
www.sec.gov/
).
The Company’s Shareholders may, upon request, receive
a hard copy of the Company's complete 201
9
audited
consolidated
financial statements free o
f charge. To review these
do
cuments on
the Company’s
website, please see
http://www.seabridgegold.net/sha
refinrep.php
.
In 20
1
9
Seabridge posted a net loss of $
11.6
million ($0.
19
per
share) compared to a loss of $
19.9
m
i
llion ($0.
34
per share)
in 20
18
. During
2019
, Seabridge invested $
30
million in mineral interests,
primarily at KSM
, compared to $
37
millio
n during
2018
.
The Company’s working capital position at
December 31, 2019, was $12.5 million, down from $18
million
at December 31, 2018.
Subsequent to year
-
end, Seabridge issued 382,807
common
shares under its At
-
The
-
Market offering
program (“ATM) at a
n average price of $17.96 for net proceeds of
$6.7 million. As previously reported,
in Q4 2019
Seabridge entered int
o
an agreement with two securities dealers for an A
TM
, entitling the
Company, at its discretion, and from time to time, to sell up to US$40
million in value of common
shares of the Compa
ny. Th
e program came into effect in December 2019 and
is effect
ive
unt
i
l the
Company’s Shelf Registration Statement expires in June 2021.
Seabridge Gold holds a 100
% interest in several North
American gold re
s
ource projects. The
Company'
s pr
incipal assets are the KSM and Iskut properties located near Stewart, British Colum
b
ia,
Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For
a
breakdown of Seabridge's m
ineral reserves
a
nd resources by project and
cate
gory please visit the
Company's website at
http://www.seabridgegold.net/resources.php
.
Neither the Toronto Stock Exchang
e, New York Stock Exchange,
nor their Regula
t
ion Services Provider
s accepts
r
esponsibili
ty
for the adequacy or accuracy of this release.
ON BEHALF OF THE
BOARD
"Rudi Fronk"
Chairman and
C.E.O.
For further information please contact:
Rudi P. Fro
nk,
Chairman
and C.E.O.
Tel: (4
16) 367
-
9292
Fax: (416) 367
-
27
11
Email: