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FINWIRES

Seabridge Gold Secures US$100 Million Credit Facility

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Seabridge Gold (SEA.TO) executed an unsecured, short-term loan agreement with a strategic investor for up to US$100 million, having an interest rate of 7% compounded monthly, it said in a statement on Monday.

At the company's election, the loan is drawable in minimum calls of US$10 million each and matures on Dec. 31. No amounts have been drawn on the loan as of now.

"We are pleased to secure financing to support the significant investments we are making in our summer season work programs at our 100% owned KSM Project," said Seabridge CEO Rudi Fronk. "Our 2026 work programs at KSM include building of roads to provide improved access to future infrastructure areas and the collection of geotechnical, metallurgical and environmental data from drilling, test pitting and sampling required to support KSM's feasibility level design and engineering activities."

Shares of the company closed up 0.3% to C$34.47 on Friday on the Toronto Stock Exchange.

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