Skeena Resources Closes C$73.5 Million Bought Deal Financing
Skeena Resources Closes C$73.5 Million Bought Deal Financing
Vancouver, BC (May 24, 2023) Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena” or
the “Company”) today announced the closing of the previously announced bought deal offering of
10,005,000 common shares of the Company (the “Common Shares”) at a price of C$7.35 per Common
Share (the "Offering Price") for gross proceeds of C$73,536,750 (the "Offering"), and which includes
the exercise in full by the underwriters of their over -allotment option to purchase up to an additional
1,305,000 Common Shares at the Offering Price.
Randy Reichert, Skeena’s President & CEO commented “We are very pleased to have successfully
closed this C$73.5 million financing. These funds strongly position Skeena with the proceeds being
used to complete key development milestones at the Eskay Creek Project including an on -site assay
lab, earthworks and detailed engineering. We l ook forward to the work planned this summer as it
represents a significant step in the advancement of Eskay Creek toward production.”
The Common Shares are offered by way of a prospectus supplement to the Company’s base shelf
prospectus in all of the prov inces of Canada, except the province of Québec, and by way of private
placement in the United States.
BMO Capital Markets acted as sole bookrunner for the Offering, on behalf of a syndicate of
underwriters which includes CIBC World Markets Inc., Raymond J ames Ltd., RBC Dominion
Securities Inc., Desjardins Securities Inc., Clarus Securities Inc. and SCP Resource Finance LP
(collectively, the "Underwriters").
The net proceeds of the Offering will be used for the continued advancement of the Company’s Eskay
Creek gold-silver project and for general corporate purposes.
No securities regulatory authority has either approved or disapproved of the contents of this news
release. This news 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 province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or qualification under the securities laws
of any such province, state or jurisdiction.
About Skeena
Skeena Resources Limited is a Canadian mining exploration and development 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 Feasibility Study for Eskay
Creek in September 2022 which highlights an after -tax NPV5% of C$1.4B, 50% IRR, and a 1 -year
payback at US$1,700/oz Au and US$19/oz Ag.
On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Randy Reichert
Executive Chairman President & CEO
NR: 23-11 | May 24, 2023
Contact Information
Investor Inquiries: [email protected]
Office Phone: +1 604 684 8725
Qualified Persons
In accordance with National Instrument 43 -101 Standards of Disclosure for Mineral Projects, Paul
Geddes, P.Geo., Senior Vice President, Exploration & Resource Development, is the Qualified Person
for the Company and has prepared, validated, and approved the technical and scientific content of
this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting,
documenting, and reporting the exploration activities on its projects.
Cautionary note regarding forward-looking statements
Certain statements and information contained or incorporated by reference in this press release constitute “forward-looking
information” and “forward -looking statements” within the meaning of applicable Canadian and United States securities
legislation (collectively, “forward-looking statements”). These statements relate to future events or our future performance.
The use of words such as “anticipates”, “bel ieves”, “proposes”, “contemplates”, “generates”, “targets”, “is projected”, “is
planned”, “considers”, “estimates”, “expects”, “is expected”, “potential” and similar expressions, or statements that certain
actions, events or results “may”, “might”, “will”, “could”, or “would” be taken, achieved, or occur, may identify forward -
looking statements. All statements other than statements of historical fact are forward-looking statements. Specific forward-
looking statements contained herein include, but are not li mited to, statements regarding the results of the Feasibility
Study, processing capacity of the mine, anticipated mine life, probable reserves, estimated project capital and operating
costs, sustaining costs, results of test work and studies, planned envir onmental assessments, the future price of metals,
metal concentrate, and future exploration and development. Such forward -looking statements are based on material
factors and/or assumptions which include, but are not limited to, the estimation of mineral r esources 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 the assumptions set forth herein and in the Company’s MD&A for the year ended
December 31, 2022, its most recently filed interim MD&A, and the Company’s Annual Information Form (“AIF”) dated
March 22, 202 3. Such forward -looking statements represent the Company’s management expectations, estimates and
projections regarding future events or circumstances on the date the statements are made, and are necessarily based on
several estimates and assumptions that, while considered reasonable by the Company as of the date hereof, are not
guarantees of future performance. Actual events and results may differ materially from those described herein, and are
subject to significant operational, business, economic, and re gulatory risks and uncertainties. The risks and uncertainties
that may affect the forward -looking statements in this news release include, among others: the inherent risks involved in
exploration and development of mineral properties, including permitting and other government approvals; changes in
economic conditions, including changes in the price of gold and other key variables; changes in mine plans and other
factors, including accidents, equipment breakdown, bad weather and other project execution delay s, many of which are
beyond the control of the Company; environmental risks and unanticipated reclamation expenses; and other risk factors
identified in the Company’s MD&A for the year ended December 31, 2022, its most recently filed interim MD&A, the AIF
dated March 22, 2023, the Company’s short form base shelf prospectus dated January 31, 2023, and in the Company’s
other periodic filings with securities and regulatory authorities in Canada and the United States that are available on
SEDAR at www.sedar.com or on EDGAR at www.sec.gov.
Readers should not place undue reliance on such forward-looking statements. Any forward-looking statement speaks only
as of the date on which it is made and the Company does not undertake any obligations to update and/or revise any
forward-looking statements except as required by applicable securities laws.