Skeena Resources Limited, listed on both the TSX and NYSE under the symbol SKE, has taken a significant step in its financial strategy by filing a prospectus supplement. This move follows the announcement of a bought deal financing aiming to raise approximately C$125 million. The financing will be managed through an underwriting agreement with a consortium led by BMO Capital Markets.
Table of Contents:
Details of the financing arrangement
The bought deal offering includes the sale of 5,210,000 common shares at a price of C$24.00 per share.
This initiative is projected to generate total gross proceeds nearing C$125,040,000. Additionally, the underwriters have been granted an over-allotment option, which permits them to purchase an extra 781,500 common shares if they opt to exercise this option within a 30-day period following the closure of the offering.
Potential for increased proceeds
If the over-allotment option is fully exercised, the total gross proceeds from this offering could increase to approximately C$143,796,000. This additional capital could significantly support Skeena’s ongoing projects and operational strategies.
Regulatory compliance and accessibility
The common shares being offered, including those from the over-allotment option, will be available through a prospectus supplement linked to the company’s base shelf prospectus. These shares will be accessible in all provinces of Canada, excluding Quebec. A U.S. prospectus supplement will also accompany the offering under the company’s registration statement on Form F-10.
Closing and regulatory approvals
The anticipated closing date for this offering is on or around October 8, 2025. However, the completion of this deal is contingent upon meeting standard closing conditions. This includes obtaining necessary regulatory approvals, primarily from the Toronto Stock Exchange, and ensuring that the common shares are approved for listing on the New York Stock Exchange.
Accessing the prospectus and further information
Investors seeking the prospectus supplements, along with the base shelf prospectus and any amendments, can find these documents on the SEDAR+ platform in Canada. This process aligns with the securities legislation that regulates the distribution of shelf prospectus supplements and base documents. For additional inquiries or to request a paper or electronic copy, investors may contact BMO Nesbitt Burns Inc. in Canada or BMO Capital Markets Corp. in the United States.
About Skeena Resources
Skeena Resources is a notable entity in the precious metals industry, primarily concentrating on the development of the Eskay Creek Gold-Silver Project. This project, recognized for its historical production, is located in the esteemed Golden Triangle of British Columbia, Canada. It is expected to emerge as one of the highest-grade and lowest-cost open-pit precious metals mines in the world, generating substantial silver by-products. The company emphasizes sustainable mining practices and is dedicated to fostering positive relationships with the Tahltan Nation, aiming to collaborate effectively with Indigenous communities.
Forward-looking statements
This announcement does not constitute an offer to sell or solicit offers to buy common shares in jurisdictions where such offers would be unlawful prior to registration or qualification under applicable securities laws. Investors should carefully assess forward-looking statements, which encompass predictions about future performance and events. Such statements are grounded in various assumptions and face considerable operational and regulatory risks.
