June 9, 2016
Skeena Announces Private Placement
Vancouver, BC (June 9, 2016) Skeena Resources Limited (TSX.V: SKE) (“Skeena” or the “Company”) intends to raise up to $6 million in a non-brokered private placement financing via the issuance of non-flow through units (“NFT Units”) and flow through units (“FT Units”), subject to TSX Venture Exchange approval. Each NFT Unit will be issued at CDN$0.08 and will consist of one common share and one half of a warrant (each whole warrant, a “Warrant”). Each FT Unit will be issued at a price of CDN$0.104 and will consist of one common share and one half of a warrant. Each Warrant will be exercisable into one non flow-through common share for a period of three years at a price of $0.12 in the first year, $0.14 in the second year and $0.16 in the third year.
All of the securities issued under this financing will be subject to a hold period of 4 months and one day from the closing date of the offering. Finders’ fees may be payable to qualified finders in accordance with applicable regulations.
Funds from this financing will be used to undertake a diamond drill program on the Snip property, as well as for exploration programs on the Spectrum and GJ properties and for general working capital purposes.
Skeena Resources Limited is a junior Canadian mining exploration company involved in the acquisition, exploration and development of precious metal properties throughout British Columbia. The Company’s activities at present include the evaluation of the Spectrum gold project and adjacent GJ copper-gold project, located in the prolific Golden Triangle of northwestern BC. The Company recently optioned the Snip mine from Barrick Gold Corp., which is also located in the Golden Triangle and has now become the primary focus of the Company’s exploration efforts. 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.
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.
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
You can view the Next News item:June 20th, 2016, Skeena Expands Drill Plans at Snip & Announces Positive Preliminary Metallurgical Results from Spectrum
You can view the Previous News item:May 18th, 2016, Skeena Graduates to TSX Venture Exchange Tier 1
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