Skeena Resources Secures C$143.8 Million in Financing Success
Skeena Resources Achieves Significant Financing Milestone
Skeena Resources Limited (TSX:SKE, NYSE:SKE), renowned for its focus on precious metals, recently marked a notable financial achievement. The company has successfully closed a bought deal offering, raising C$143.8 million through the issuance of nearly 6 million common shares at a price of C$24.00 per share. This strategic move showcases Skeena's commitment to advancing its Eskay Creek gold-silver project.
Details of the Financing Arrangement
The financing involved the sale of 5,991,500 common shares, providing gross proceeds of C$143,796,000. This amount reflects the full exercise of the underwriters' over-allotment option, enabling them to purchase an additional 781,500 common shares. Skeena issued these shares under a prospectus supplement aligned with its base shelf prospectus, which is crucial for its operations and growth strategies.
Targeted Use of Proceeds
The funds raised from this transaction are earmarked for the continued advancement of the Eskay Creek project, which has significant historical production capabilities. Furthermore, the capital will be utilized for general corporate purposes, cementing Skeena's position as a leading entity in the mining sector. This project, located in British Columbia's renowned Golden Triangle, leverages the region's rich mineral resources.
Engagement with Underwriters
BMO Capital Markets played an integral role as the sole bookrunner for the offering. They led a diverse syndicate that included major financial institutions such as UBS Securities Canada Inc., Raymond James Ltd., and TD Securities Inc. This collaboration illustrates Skeena's robust relationships within the financial community, which are vital for its ongoing projects.
Commitment to Sustainable Practices
Skeena Resources is not just focused on financial success but is also deeply committed to sustainable mining practices. The company's vision includes enhancing the Eskay Creek project to function as one of the world’s highest-grade and lowest-cost open-pit precious metals mines. Their sustainable approach is designed to generate substantial silver by-product production, surpassing many primary silver mines globally.
Community Engagement and Partnerships
The company actively collaborates with the Tahltan Nation, prioritizing strong, positive relationships with Indigenous communities. This engagement is vital for creating lasting value and fostering sustainable growth for all stakeholders involved. Skeena aims to integrate community needs and expectations into its operational framework.
Contact Information
For inquiries and more information, stakeholders may reach out to:
Galina Meleger
Vice President Investor Relations
Email: info@skeenagold.com
Phone: 604-684-8725
Frequently Asked Questions
What is the main focus of Skeena Resources?
Skeena Resources is dedicated to advancing its Eskay Creek gold-silver project, emphasizing sustainable and responsible mining practices.
How much capital did Skeena Resources raise in its recent financing?
The company raised C$143.8 million through the sale of common shares.
Who acted as the underwriter for this financing deal?
BMO Capital Markets served as the sole bookrunner, leading a syndicate of underwriters for the offering.
What are the proceeds from the offering aimed at?
The proceeds are intended for the advancement of the Eskay Creek project and for general corporate purposes.
How does Skeena engage with Indigenous communities?
The company strives to maintain positive relationships with the Tahltan Nation and ensure that community inputs are integrated into its operational endeavors.
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