Seabridge Gold Inc 6-K, filed Mar 30, 2020
Seabridge Gold Inc (SA)
About this 6-K
Seabridge Gold Inc filed this 6-K on March 30, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2020
Commission File Number 1-32135
SEABRIDGE GOLD INC.
(Name
of Registrant)
106 Front Street East, Suite 400, Toronto, Ontario, Canada
M5A 1E1
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ ] Form 40-F [X]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes[ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _______________
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Seabridge Gold Inc. | ||
| (Registrant) | ||
| By: | /s/ Chris Reynolds | |
| Name: | Chris Reynolds | |
| Title: | VP Finance and CFO | |
| Date: March 27, 2020 | ||
EXHIBITS
| Exhibit | Description | |
| 99.1 | News Release dated March 27, 2020 |
News Release
| Trading Symbols: TSX: SEA | For Immediate Release |
| NYSE: SA | March 27, 2020 |
Seabridge Gold Files 2019 Year End Audited Financial Statements and MD&A
Toronto, Canada…Seabridge Gold announced today that it has filed its Audited Consolidated Financial Statements and its Management's Discussion and Analysis for the year ended December 31, 2019 on SEDAR (www.sedar.com) and are available on the Company's website at www.seabridgegold.net. Seabridge's Form 40-F will be filed with the SEC on EDGAR (www.sec.gov/). The Company's Shareholders may, upon request, receive a hard copy of the Company's complete 2019 audited consolidated financial statements free of charge. To review these documents on the Company's website, please see http://www.seabridgegold.net/sharefinrep.php.
In 2019 Seabridge posted a net loss of $11.6 million ($0.19 per share) compared to a loss of $19.9 million ($0.34 per share) in 2018. During 2019, Seabridge invested $30 million in mineral interests, primarily at KSM, compared to $37 million during 2018. The Company's working capital position at December 31, 2019, was $12.5 million, down from $18 million at December 31, 2018.
Subsequent to year-end, Seabridge issued 382,807 common shares under its At-The-Market offering program ("ATM) at an average price of $17.96 for net proceeds of $6.7 million. As previously reported, in Q4 2019 Seabridge entered into an agreement with two securities dealers for an ATM, entitling the Company, at its discretion, and from time to time, to sell up to US$40 million in value of common shares of the Company. The program came into effect in December 2019 and is effective until the Company's Shelf Registration Statement expires in June 2021.
Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company's principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's mineral reserves and resources by project and category please visit the Company's website at http://www.seabridgegold.net/resources.php.
Neither the Toronto Stock Exchange, New York Stock Exchange, nor their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
"Rudi Fronk"
Chairman and C.E.O.
For further information please contact:
Rudi P. Fronk, Chairman and C.E.O.
Tel: (416) 367-9292 • Fax: (416) 367-2711
Email: info@seabridgegold.net
