Trading Symbols:
TSX: SEA
NYSE: SA
TORONTO,
July 25, 2014 /CNW/ - Seabridge Gold
Inc. (TSX:SEA)(NYSE:SA) (the "Company") announced today that it has
filed a preliminary short form base shelf prospectus with the
securities commissions in each of the Provinces of Ontario, Alberta and British
Columbia and a corresponding registration statement on Form
F-10 with the United States Securities and Exchange Commission
(SEC).
Seabridge Chairman and CEO Rudi Fronk commented that: "Following the
closing this week of our $13.8
million financing, we do not currently have any plans to
arrange additional funding. The purpose of this shelf prospectus is
to give us greater flexibility should additional funding be
required in the future. The dollar limit noted in the filing does
not reflect a considered estimate of future financing requirements,
which will depend upon future developments and are unknowable at
this time."
The shelf prospectus filings, when final, will
allow Seabridge to make offerings of common shares up to an
aggregate total of Cdn$100 million
during the 25-month period that the final short form base shelf
prospectus remains effective. Common shares may be offered in
amounts, at prices and on terms to be determined based on market
conditions at the time of sale and set forth in one or more shelf
prospectus supplements and, subject to applicable regulations, may
include at-the-market transactions, public offerings or strategic
investments. The net proceeds from any sale of the common
shares will be used for general corporate purposes, including
funding future exploration and development work on the Company's
two material assets, the KSM Project and the Courageous Lake
Project. More detailed information regarding the use of proceeds
from a sale of common shares will be included in the applicable
prospectus supplement.
A copy of the preliminary short form base shelf
prospectus, the final short form base shelf prospectus and any
shelf prospectus supplements that may be filed in the future, can
be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov or
may be obtained by request to the Assistant Corporate Secretary,
Seabridge Gold Inc., 106 Front Street East, Suite 400, Toronto, Ontario, M5A 1E1, Canada (Telephone: 1-416-367-9292)
Seabridge holds a 100% interest in several North
American gold resource projects. The Company's principal assets are
the KSM property located near Stewart,
British Columbia, Canada and the Courageous Lake gold
project located in Canada's
Northwest Territories. For a
breakdown of Seabridge's mineral reserves and resources by project
and category please visit the Company's website at
http://www.seabridgegold.net/resources.php.
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, or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless an
exemption from such registration is available.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
All reserve and resource estimates reported by
the Company were calculated in accordance with the Canadian
National Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. These standards differ
significantly from the requirements of the U.S. Securities and
Exchange Commission. Mineral resources which are not mineral
reserves do not have demonstrated economic viability.
Statements relating to the estimated or expected
future production and operating results and costs and financial
condition of Seabridge, planned exploration work at the Company's
projects and the expected results of such work are forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of Canadian securities legislation
(both are referred to herein as "forward-looking statements).
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by words such
as the following: expects, plans, anticipates, believes, intends,
estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including
in relation to whether resources will be increased and such
increase will more than offset dilution. Information concerning
exploration results and mineral reserve and resource estimates may
also be deemed to be forward-looking statements, as it constitutes
a prediction of what might be found to be present when and if a
project is actually developed. These forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable at the time they are made, are
inherently subject to a variety of risks and uncertainties which
could cause actual events or results, including the ability of the
Company to successfully close any financing pursuant to the short
form base shelf prospectus and corresponding registration
statement, to differ materially from those reflected in the
forward-looking statements, including, without limitation:
uncertainties related to raising sufficient financing to fund the
planned work in a timely manner and on acceptable terms; changes in
planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfill
projections/expectations and realize the perceived potential of the
Company's projects; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold
reserves and resources; risk of accidents, equipment breakdowns and
labour disputes or other unanticipated difficulties or
interruptions; the possibility of environmental issues at the
Company's projects; the possibility of cost overruns or
unanticipated expenses in work programs; the need to obtain permits
and comply with environmental laws and regulations and other
government requirements; fluctuations in the price of gold and
other risks and uncertainties, including those described in the
Company's December 31, 2013 Annual
Information Form filed with SEDAR in Canada (available at www.sedar.com) and the
Company's Annual Report Form 40-F filed with the U.S. Securities
and Exchange Commission on EDGAR (available at
www.sec.gov/edgar.shtml). When relying on our
forward-looking statements to make decisions with respect to
Seabridge, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
Seabridge does not undertake to update any forward-looking
statement, whether written or oral, that may be made from time to
time by Seabridge or on our behalf, except as required by
law.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and CEO
SOURCE Seabridge Gold Inc.