Seabridge Gold Inc T.SEA

Alternate Symbol(s): SA

Metals & Mining Gold

Seabridge Gold Inc. is engaged in acquiring, exploring, and advancing mineral properties, with an emphasis on gold resources, located in Canada and the United States. The Company holds a 100% interest in several North American gold projects. Its principal assets, the KSM project, and its Iskut project, are located in Northwest British Columbia, Canada's Golden Triangle, the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. The KSM Project is an undeveloped gold project. Iskut is a 294 square kilometers property located approximately 20 kilometers (km) east of KSM. 3 Aces is a 314 square kilometer property located in southeastern Yukon. The project is a district-scale, orogenic gold project. Snowstorm is a 103 square kilometer property located at the intersection of three major Nevada gold belts. Grassy Mountain is its non-core asset.

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Seabridge Gold Inc

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Post by Betteryear2on Jun 29, 2023 4:40pm

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Post# 35521170

Seabridge Closes US$150 Million Note/NSR Agreement

Toronto, Ontario--(Newsfile Corp. - June 29, 2023) - Seabridge Gold (TSX: SEA) (NYSE: SA) announced today that its wholly-owned subsidiary, KSM Mining ULC ("KSMCo"), has closed the sale of a US$150 million secured note to Sprott Resource Streaming and Royalty Corp. ("Sprott Streaming"). For commercial reasons beneficial to Seabridge, the transaction structure previously announced by Seabridge on May 11, 2023 has been restructured as a sale to Sprott Streaming of a secured note ("Note") by KSMCo, and a contingent right by Seabridge. The Note is designed to be repaid at maturity by a net smelter royalty ("NSR") on Seabridge's 100% owned KSM project located in northern British Columbia, Canada. The US$150 million (the "Principal Amount") in proceeds (approximately CAD$200 million at the current exchange rate) will be used to complete the physical works at KSM for which Seabridge expects to achieve a designation of 'substantially started' from the B.C. government. Essentially the same secured note/royalty structure was used last year to raise US$225 million from Sprott Streaming and the Ontario Teachers' Pension Plan to kick start the 'substantially started' program (the "2022 Transaction").

Seabridge Closes US$150 Million Note/NSR Agreement with Sprott Streaming (newsfilecorp.com)

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Advancing flagship Ishkõday Gold Project in Ontario