Skeena Resources Limited
TSX VENTURE : SKE

Skeena Resources Limited

November 09, 2015 17:02 ET

Skeena Closes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2015) - Skeena Resources Limited (TSX VENTURE:SKE) ("Skeena" or the "Company") is pleased to report that it has closed on the first tranche of private placement financing. The Company expects to close the balance of financing within the next several weeks.

Skeena collected gross proceeds of $4,685,500 from the sale of 600,000 Non-Flow Through shares at $0.075CDN and 47,594,874 Flow Through shares at $0.0975CDN. The shares issued under this financing will be subject to a hold period of four months from the date of closing. There were no warrants included in the offering. Finder's fees will be payable to qualified agents on a portion of the funds raised in accordance with exchange regulations.

The net proceeds from this financing will primarily be used for exploration on the Spectrum high-grade gold project and the recently acquired GJ project. Both projects are located in the prolific Golden Triangle region of northwestern British Columbia and are in the same general vicinity of two of Ron Netolitzky's (Chairman, Skeena) past successes: the Snip and Eskay Creek mines, which are held by Barrick Gold Corporation.

About Skeena

Skeena Resources Limited is a junior Canadian mining exploration company involved in the acquisition, exploration and development of prospective base and precious metal properties throughout British Columbia. The Company's primary activities at present are the evaluation of the high-grade Spectrum gold project and the newly acquired GJ project, both in the Stikine Arch of northwestern British Columbia. Skeena's management includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman, who was inducted into the Canadian Mining Hall of Fame in 2015.

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.

Contact Information

  • Skeena Resources Limited
    Walt Coles Jr.
    President & CEO
    (604) 684-8725
    (604) 558-7695 (FAX)

    Skeena Resources Limited
    Tony Perri
    Investor Relations, Manager
    (604) 684-8725
    (604) 558-7695 (FAX)
    tperri@skeenaresources.com