Seabridge to acquire SnipGold at 29.1 cents per share
2016-04-19 07:07 ET - News Release-- See News Release (C-SEA) Seabridge Gold Inc
Mr. Rudi Fronk of Seabridge reports
SEABRIDGE GOLD INC. TO ACQUIRE SNIPGOLD CORP. BY WAY OF PLAN OF ARRANGEMENT
Seabridge Gold Inc. and Snipgold Corp. have entered into a definitive agreement dated April 18, 2016, pursuant to which Seabridge has agreed to acquire all of the issued and outstanding common shares of SnipGold by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia).
Rudi Fronk, Seabridge's chief executive officer and chairman, said: "The board of directors of Seabridge believes the proposed transaction will enhance our exploration potential in an area where our technical team has built up significant expertise. This proposal also meets our transaction test of immediately increasing our gold resource ownership per share. Our KSM project has geological similarities to SnipGold's Iskut project and the two properties are near enough to each other to offer synergies in terms of personnel and infrastructure.
- Published: 19 April 2016
- Written by Editor