Skeena Resources Announces C$50.0 Million Bought Deal Public Offering
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Skeena Resources Announces C$50.0 Million Bought Deal Public Offering
Vancouver, BC (May 10, 2021) Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the
“Company”) is pleased to announce that is has entered into an agreement with a syndicate of underwriters
led by Raymond James Ltd. and Canaccord Genuity Corp., under which the underwriters have agreed to
buy on a bought deal basis 16,129,033 common shares (the “Common Shares”), at a price of C$3.10 per
Common Share for gross proceeds of approximately C$50.0 million (the “Offering”). The Company has
granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the
closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any.
The Offering is expected to close on or about May 17, 2021 and is subject to Skeena receiving all necessary
regulatory approvals, including approval of the Toronto Stock Exchange and approval from applicable
securities regulatory authorities.
The net proceeds of the Offering will be used by the Company to fund exploration and development
activities at the Eskay Creek Project and Snip Gold Project and for general administration and corporate
purposes.
The Common Shares will be offered by way of a prospectus supplement to be filed in all provinces of
Canada, except Québec. The Common Shares may also be offered in the United States on a private
placement basis pursuant to applicable exemptions from the registration requirements of the United States
Securities Act of 1933, as amended (the “1933 Act”) and applicable state securities laws, and in other
jurisdictions outside of Canada and the United States provided that no prospectus filing or comparable
obligation arises.
Barrick Gold Corporation, which currently holds approximately 10.8% of the issued and outstanding
Common Shares, has the right to maintain its pro-rata ownership interest in the Company via participation
in future Skeena financings.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities
in the United States. The securities have not been and will not be registered under the U.S. Securities Act
or any state securities laws and may not be offered or sold within the United States or to, or for the account
or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities
laws or an exemption from such registration is available.
About Skeena
Skeena Resources Limited is a Canadian mining exploration company focused on revitalizing the past-
producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest
British Columbia, Canada. The Company released a robust Preliminary Economic Assessment in late 2019
and is currently focused on infill and exploration drilling to advance Eskay Creek to full Feasibility by Q1
2022. Additionally, Skeena continues exploration programs at the past-producing Snip gold mine.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO
Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute “forward looking information”
and “forward looking statements” within the meaning of applicable Canadian and United States securities
legislation (collectively, “Forward-looking Statements”). These Forward-looking Statements are based on
facts currently available to the Company and there is no assurance that actual results will meet
management’s expectations. Forward-looking Statements may be identified by such terms as “anticipates”,
“believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would” and similar expressions.
Forward-looking Statements in this news release may include, without limitation, statements about the
Offering and the anticipated completion and timing thereof; the timing and anticipated receipt of regulatory
approvals; the Company’s anticipated use of the net proceeds from the Offering and the timing and success
of the Company’s exploration programs and drilling projects. Forward-looking Statements contained herein
are based on certain known and unknown risks, uncertainties and other factors, many of which are beyond
the ability of the Company to control or predict and which may cause actual results, performance or
achievements to be materially different from any results, performance or achievements expressed or
implied by the Forward-looking Statements. Such risks, uncertainties and factors include, among other
things, the completion and timing of the Offering and the ability of the Company to receive, in a timely
manner, the necessary approvals for the Offering, changes in general economic conditions and financial
markets and risks relating to the current and potential adverse impacts of the COVID-19 pandemic on the
economy, financing markets and the Company’s business. The Forward-looking Statements are also based
on certain assumptions regarding, among other things, the estimation of mineral resources and reserves,
the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount
of future exploration and development, capital and operating costs, the availability of financing, the receipt
of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers
its assumptions to be reasonable as of the date hereof, Forward-looking Statements are not guarantees of
future performance and readers should not place undue importance on such statements as actual events
and results may differ materially from those described herein. The Company does not undertake to update
any forward-looking statements or information except as may be required by applicable securities laws.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.