pcNewsWire – Skeena Resources Limited (TSX-V: SKE) has engaged RBC Capital Markets as lead agent for a best efforts private placement of equity securities for gross proceeds of approximately C$5,000,000.
Proceeds will be used to fund advancement of the company’s Snip project and for working capital purposes.
News Release
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Skeena Announces Marketed Private Placement of Approximately C$5,000,000
Vancouver, BC (May 23, 2017) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) is pleased to announce that the Company has engaged RBC Capital Markets and a syndicate of agents to be appointed (the “Agents”) to market, on a best efforts basis, a private placement of equity securities of the Company (the “Offered Securities”) for aggregate gross proceeds of approximately C$5,000,000 (the “Offering”). The Offering will be priced in the context of the market with the final terms of the Offering to be determined at the time of pricing. In addition, the Company will grant to the Agents an option, exercisable in whole or in part at any time up to two days prior to closing of the Offering, to offer an additional number of Offered Securities representing 15% of the Offering, on the same terms as the Offering.
The net proceeds of the Offering will be used to fund advancement of the Company’s Snip project and for working capital purposes. The closing of the Offering is anticipated to occur in mid-June 2017 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.
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 base and precious metal properties in the Golden Triangle region of northwest British Columbia, Canada. The Company’s primary activities are the evaluation and development of the Spectrum-GJ copper-gold project as well as exploration on the past-producing Snip gold mine, acquired from Barrick Gold, and the past-producing Porter Idaho silver mine. Skeena’s management includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman of the Board.
On behalf of the Board of Directors of Skeena Resources Limited,
Walt Coles Jr.
President & CEO
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Skeena Resources Limited
