Skeena Resources Limited (TSX: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to announce that it has closed its previously announced overnight marketed public offering (the “Offering”). Pursuant to the Offering, Skeena issued 19,574,468 common shares of the Company (the “Common Shares”), including 2,553,191 Common Shares issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) in connection with the Offering, at a price of C$2.35 per Common Share for gross proceeds of C$46.0 million.
The Offering was completed through a syndicate of underwriters co-led by Raymond James Ltd. and Canaccord Genuity Corp., and including Clarus Securities Inc., Sprott Capital Partners and RBC Capital Markets (collectively the “Underwriters”).
The Common Shares were offered pursuant to a final prospectus supplement dated November 11, 2020 to the Company’s short form base shelf prospectus dated November 4, 2020. The Common Shares were offered in each of the provinces of Canada, except Québec. The Common Shares were sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and other jurisdictions outside of Canada provided that no prospectus filing or comparable obligation arises.
The net proceeds of the Offering will be used by the Company to fund exploration and development activities at the Eskay Creek Project and Snip Gold Project, and for general administrative and corporate purposes.
Agentis Capital Mining Partners, Jett Capital Advisors, and Tectonic Advisory Partners have acted has financial advisors to the Company.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Skeena Resources Limited is a junior mining company focused on developing 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 robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.