Loan & DebtJul 22, 2026, 06:07 AM
Seabridge Gold Secures US$100M Credit Facility for KSM Project
AI Summary
Seabridge Gold Inc. announced it has secured an unsecured, short-term loan agreement with a strategic investor for up to US$100 million. The loan carries an interest rate of 7% per annum and matures on December 31, 2026. This financing is intended to support significant investments in the summer season work programs at the KSM Project, including infrastructure development and data collection. The company has the option to repay the loan in cash or, under certain circumstances, in common shares.
Key Highlights
- Seabridge Gold secured an unsecured, short-term loan agreement for up to US$100 million.
- The loan bears an interest rate of 7% per annum, compounded monthly and capitalized.
- The loan matures on December 31, 2026.
- Funds will support ongoing work programs at the KSM Project, including road building and data collection.
- The loan is repayable in cash at any time or, at the Company's option, in common shares at maturity.
- The Company can draw on the loan in minimum calls of US$10 million each.
- No amounts have been drawn on the loan as of the filing date.
Price Impact
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