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April 16 2020

Skeena Closes C$33 Million Private Placement

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Skeena Resources Limited (“Skeena” or the “Company” –  https://www.commodity-tv.com/play/skeena-resources-buying-option-from-barrick-gold-until-end-of-2020/ ) is pleased to report the closing, subject to the acceptance of the TSX-Venture Exchange, of the second and final tranche of the non-brokered private placement offering (the “Offering”) announced on March 10, 2020. Together with the first tranche, Skeena raised gross proceeds of C$33.3 million.

In relation to the final tranche, Skeena collected gross proceeds of C$18.2 million from the sale of 16,800,334 flow-through shares. Flow-through shares were issued either with or without the British Columbia tax credit: BC super-flow-through shares were issued at a price of C$1.155 per share and National flow-through shares were issued at a price of $1.05 per share.

The net proceeds of the Offering will be used to fund exploration activities on the Company’s projects in the Golden Triangle of British Columbia. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date, being August 1, 2020 for the first tranche, and August 16, 2020 for the second tranche.  Finder’s fees were payable in cash to qualified finders on certain portions of this private placement.

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