VANCOUVER, British Columbia, March 29, 2018 (GLOBE NEWSWIRE) -- 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 to 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 gross 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. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant of the
Company. Each whole warrant entitles 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 received a cash commission equal to 6.0% of the gross proceeds of the Offering, other than in respect 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 of
Compensation Warrants issued in respect of such issuance was 2.0%.
The net proceeds of the Offering will be used to fund advancement of the Company’s Snip Project 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 not 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 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 Preliminary
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 guarantees 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 information 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.
Contact: Walt Coles Jr., President & CEO
or Kelly Earle, Vice President Communications
Email: kearle@skeenaresources.com
Suite 650, 1021 West Hastings Street
Vancouver, BC, Canada V6E 0C3
Tel: (604) 684-8725 Fax: (604) 558-7695
