| ||June 17, 2010|
Skeena Closes Private Placement Financing
| ||NR: #10-08|
Skeena Resources Limited (TSX.V: SKE) is pleased to announce that it has completed the non-brokered private placement financing announced May 26, 2010. Gross proceeds of $1,067,500 have been realized by the sale of 21,350,000 Units. Each Unit was sold at a price of $0.05 and consists of one common share and one non-transferable share purchase warrant. Each full warrant will be exercisable into one common share of the Company at an exercise price of $0.10 per share in year 1 and $0.20 per share in year 2. Subsequent to the conclusion of the initial 4-month hold period, the remaining expiry period of the warrants may be reduced, upon notice to holders and at the election of the Company, if the shares trade at a price equal to or greater than a weighted average of $0.40 per share for 10 consecutive trading days. If this condition is met and the Company so elects, the exercise period will be reduced to 25 business days from the date notice is provided by the Company to the warrant holders.
This financing is subject to regulatory approval and finders' fees will be paid to accredited agents on that portion of the funds raised by third parties. The shares issued under this financing will be subject to a hold period of four months plus one day from the date of closing of the offering. The funds will be directed to advancing the Company's 100% owned Tropico copper-platinum-palladium-gold project in Sinaloa State, Mexico, to the acquisition of new projects, and to general working capital.
On Behalf of the Board of Directors of
SKEENA RESOURCES LIMITED
J. R. Allan, P. Geol., 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: Tony Perri - Investor Relations, Manager at 604-684-8725
Or Raju Wani of Wani Capital at 403-240-0555
Suite 611, 675 W. Hastings St. Vancouver, B.C., Canada V6B 1N2
Tel: (604) 684-8725
You can view the Next News Releases item: Tue Jun 22, 2010, Skeena Acquires a Copper Porphyry Prospect in Yukon
You can view the Previous News Releases item: Wed May 26, 2010, Skeena Proposes $1,000,000 Private Placement Financing
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