Seabridge Gold Inc. said Nov. 9 that it will raise C$14 million from a private placement of 1 million shares at C$14 each.
The transaction is expected to close by Nov. 23, with Seabridge granting the placees an option to increase their placement by an additional 250,000 common shares, exercisable until Dec. 24.
Seabridge will use the proceeds to fund general working capital requirements and a 2019 drill program at its Snowstorm gold project, which comprises 700 mining claims and 5,800 acres of fee lands in Nevada.
