Skeena Closes Oversubscribed Private Placement
Skeena Closes Oversubscribed Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Vancouver, BC ( March 29, 2018 ) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the
“Company”) is pleased to announce that it has closed its previously announced private placement of
units (the “Units”) and flow -through common shares (the “FT Shares ”) of the Company (the
“Offering”) pursuant t o an agency agreement dated March 29, 2018 (the “ Agency Agreement ”)
between the Company and PI Financial Corp., Sprott Private Wealth LP, RBC Dominion Securities
Inc. and Cormark Securities Inc. (the “Agents”) . The Offering raised gro ss proceeds of
approximately C$8.5 million.
The Company issued (a) 9,176,940 Units at a price of C$0.60 per Unit for gross proceeds of
C$5,506,164, and (b) 4,223,571 FT Shares at a price of C$0.70 per FT Share for gross proceeds of
C$2,956,500, for aggregate gross proceeds of C$ 8,462,664. Eac h Unit consists of one common
share of the Company and one-half of one common share purchase warrant of the Company . Each
whole w arrant entitle s the holder to purchase one common share of the Company at a price of
C$0.90 until March 29 , 2020 . The securities issued under the Offering are subject to a statutory
hold period in Canada expiring four months and one day from the closing date, being July 30, 2018.
Pursuant to the Agency Agreement, as compensation for services rendered in connection with the
Offering, the Agents recei ved a cash commission equal to 6 .0% of the gross proceeds of the
Offering, other than in re spect of certain purchasers on the Company’s president’s list, in which
case the cash commission was 2.0%. In addition, the Company issued to the Agents compensation
warrants (the “Compensation Warrants”) entitling the Agents to purchase, at a price of C$0.70 each,
that number of Common Shares equal to 6.0% of the aggregate number of Units and FT Shares
issued by the Company under the Offering until March 29, 2019, other than in respect of Units or FT
Shares issued to certain purchasers on the president’s list, in which case the number o f
Compensation Warrants issued in respect of such issuance was 2.0%.
The net proceeds of the Offering will be used to fund adv ancement of the Company’s Snip P roject
and the recently optioned Eskay Creek Project and for working capital purposes. The gross
proceeds from the FT Shares will be used to fund Canadian exploration expenses.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will n ot be registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities
laws and may not be offered or sold within the United States or to 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 junior Canadian mining exploration company focused on developing
prospective precious and base metal properties in the Golden Triangle of northwest British
Columbia, Canada. The Company’s primary activities are the exploration and development of the
NR: 18-10
March 29, 2018
past-producing Snip mine and the recently optioned Eskay Creek mine, both acquired from Barrick.
In addition, the Company is performing preliminary exploration on the past -producing Porter Idaho
silver mine and has completed a Preli minary Economic Assessment on the GJ copper -gold
porphyry project.
On behalf of the Board of Directors of Skeena Resources Limited,
Walt Coles Jr.
President & CEO
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, including, among other things ,
information with respect to the expected use of proceeds of the Offering. These statements and information 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 and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”,
“will”, “could” or “would”. Forward -looking statements and information contained herein are based on certain factors and 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 and information are not guara ntees 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 informat ion
except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.