Skeena Resources Ltd. said March 13 that it signed an agreement with a syndicate of agents for a private placement targeting gross proceeds of up to approximately C$6 million.
The company plans to use the proceeds to advance its early stage Snip and past-producing Eskay Creek gold projects in British Columbia and for working capital. Skeena secured an option to acquire Eskay Creek in late 2017.
The offering, to be undertaken on a best-efforts basis, will comprise up to 5 million units priced at 60 cents apiece and up to 4,285,715 flow-through common shares priced at 70 cents apiece.
Each unit will comprise 1 common share and half of a non-flow-through common share purchase warrant, with each warrant exercisable at 90 cents per share for two years from closing, which is anticipated on or around April 4.
Skeena Resources also granted the agents a 15% overallotment option, exercisable up to two days before closing.
