Skeena Resources (TSX: SKE) has closed its previously announced private placement. The firm indicated on Friday that it had closed the financing, which was fully subscribed to by Franco-Nevada (TSX: FNV).
The financing saw Franco-Nevada subscribe to 1.47 million flow through shares of the company, with each share being pegged at $21.00 per each. The firm as a result invested a total of $30.9 million in the junior explorer.
As part of the investment, the firm provided Franco-Nevada with the right of first refusal for a 0.5% NSR for the Eskay Creek project. An amendment to a previously entered royalty arrangement has also been modified to match the land covered under a separate royalty arrangement that Skeena currently has in place with Barrick Gold.
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Funds from the financing are to be used for exploration expenditures on Skeena’s properties.
Skeena Resources last traded at $12.97 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
