Financing ·
Seabridge Gold executed an unsecured, short-term loan agreement with a strategic investor for up to US$100 million to…
SASeabridge Gold Inc
Seabridge Gold executed an unsecured, short-term loan agreement with a strategic investor for up to US$100 million to fund summer work programs at its KSM Project. The loan features a 7% interest rate compounded monthly, matures on December 31, 2026, and is drawable in minimum increments of US$10 million. Repayment can be made in cash or, subject to TSX approval, in common shares at the company's option. Funds will be used for road construction and the collection of geotechnical, metallurgical, and environmental data to support feasibility level design. The company operates in the mining industry and holds interests in several North American gold projects.