December 22, 2016
Skeena Announces Flow-Through Financing
Vancouver, BC (December 22, 2016) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) intends to raise $729,699.93 in a non-brokered private placement financing by issuing 8,107,777 flow-through common shares, at $0.09 CDN per share. Shares issued under this financing will be subject to a hold period of four months and one day from the closing date of the offering. A 7% cash finders’ fee is payable to qualified agents on a portion of the funds raised in accordance with TSX Venture Exchange regulations. This financing is expected to close on Friday, December 23, 2016, pending regulatory approval.
The gross proceeds from the flow-through common shares will be used to incur Canadian exploration expenses as defined by the Income Tax Act (Canada) by December 31, 2017, as renounced effective December 31, 2016.
Skeena Resources Limited is a junior Canadian mining exploration company focused on developing prospective base and precious metal properties in the Golden Triangle region of northwest British Columbia, Canada. The Company’s primary activities are the evaluation and development of the Spectrum-GJ gold-copper project as well as exploration on the recently optioned past-producing Snip gold mine, acquired from Barrick Gold, and the past-producing Porter Idaho silver mine. Skeena’s management includes a highly experienced team of mine-finders, including Ron Netolitzky, Chairman of the Board.
On behalf of the Board of Directors of Skeena Resources Limited,
Walt Coles Jr.
President & CEO
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation, including, among other things, information with respect to this presentation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
For Further Information Contact:
Walt Coles Jr., President & CEO or Tony Perri - Investor Relations, Manager
Suite 650, 1021 W. Hastings St. Vancouver, B.C., Canada V6E 0C3
Tel: (604) 684-8725 Fax: (604) 558-7695 Email: email@example.com
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