Seabridge Gold Closes US$100 Million in Financings

Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) has successfully closed a US$100 million financing package, consisting of a bought deal offering and a private placement with a strategic investor. The company announced today that it has raised US$80 million through the sale of 6,540,000 common shares at US$12.25 per share in the bought deal offering. Concurrently, Seabridge has also raised US$20 million through the private placement of 1,640,000 common shares at the same price with a strategic investor.

The net proceeds from the financing will be used to make payments to BC Hydro for the completion of the KSM switching station, collect remaining field data for a KSM bankable feasibility study, fund other costs associated with ongoing activities at the KSM gold-copper project in northeast British Columbia, Canada, and for general corporate purposes.

Seabridge Chairman and CEO Rudi Fronk commented on the financing, stating, "We have committed to approximately $150 million in work at our KSM project in 2025 to continue moving it forward and to maintain our commitment to our indigenous partners and local communities. The work includes critical path items to position KSM for a future partnership and establish the path of future work."

The Offering will be made by way of a prospectus supplement to the Company's base shelf prospectus and related U.S. registration statement on Form F-10. The Prospectus Supplement has been filed with the securities commissions in each of the provinces of Ontario, British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia, and Yukon, as well as the United States Securities and Exchange Commission (SEC). Access to the Base Shelf Prospectus, the Prospectus Supplement, and any amendment to the documents is provided in accordance with securities legislation.



The successful closure of the US$100 million financing package demonstrates Seabridge Gold's commitment to advancing its KSM project and maintaining its position as one of the world's largest resources of gold, copper, and silver. The company's strategic investment from a strategic investor also reflects the investor's confidence in Seabridge's near-term prospects and growth potential. As Seabridge continues to execute its risk-reducing strategy, investors can expect the company to provide the industry's best leverage to gold as measured by ounces of gold per share.