Skeena Resources Limited, recognized for its focus on precious metals development, has announced a bought deal financing worth approximately C$125 million. This financing aims to advance operations at the Eskay Creek Gold-Silver Project, which is expected to become a leading mining initiative in Canada.
The company has filed a prospectus supplement and established an underwriting agreement with a group of financial backers led by BMO Capital Markets. The offering includes 5,210,000 common shares priced at C$24.00 each, generating gross proceeds of about C$125,040,000. This move strategically positions Skeena within the competitive resource sector.
Details of the offering
Skeena has granted its underwriters an over-allotment option, which can be executed within a 30-day window following the offering’s closing date. This option allows underwriters to purchase an additional 781,500 common shares at the same offering price. If fully utilized, total gross proceeds may increase to approximately C$143,796,000, indicating strong interest in the company.
Geographical scope
The shares in this offering will be available through a prospectus supplement to the company’s base shelf prospectus across various provinces in Canada, excluding Quebec. Furthermore, a U.S. prospectus supplement will be part of the registration statement on Form F-10, expanding opportunities for investors in the United States.
Expected timeline and regulatory approvals
Completion of this offering is anticipated around October 8, subject to standard closing conditions, including obtaining necessary regulatory approvals from the Toronto Stock Exchange and the New York Stock Exchange. The company expresses confidence in meeting these requirements, paving the way for a successful financial operation.
Accessing the prospectus
Investors interested in this offering can access relevant documents, including the base shelf prospectus and any amendments, through the SEDAR+ system. The prospectus supplements will also be available in electronic or hard copy formats upon request. The company encourages potential investors to thoroughly review these documents to understand the offering’s details before making investment decisions.
For further information, BMO Nesbitt Burns Inc. in Canada and BMO Capital Markets Corp. in the U.S. can provide assistance. The company’s issuer profile on SEDAR+ serves as a primary resource for all related documents.
About Skeena Resources
Skeena Resources is a key player in the precious metals landscape, focusing on the Eskay Creek Gold-Silver Project in British Columbia’s Golden Triangle region. This project is expected to rank among the highest-grade and lowest-cost open-pit precious metals mines globally, with significant silver by-product production that surpasses many dedicated silver mines.
The company is committed to sustainable mining practices and aims to unlock its mineral resources’ full potential while building positive relationships with local Indigenous communities, particularly the Tahltan Nation. This commitment aligns with Skeena’s goal of delivering long-term value and sustainable growth for all stakeholders.
Important note: This announcement should not be interpreted as an offer to sell or solicit any offers to purchase shares in jurisdictions where such actions would be illegal prior to proper registration or qualification under local securities laws.
The company has filed a prospectus supplement and established an underwriting agreement with a group of financial backers led by BMO Capital Markets. The offering includes 5,210,000 common shares priced at C$24.00 each, generating gross proceeds of about C$125,040,000. This move strategically positions Skeena within the competitive resource sector.0