Seabridge raises $22M to explore KSM, Iskut

Seabridge Gold Inc. April 28 announced the closing of a C$22 million flow-through financing. As a result, Seabridge issued 1.1 million flow-through shares at C$20 each, which is a 27.7 percent premium to the closing price on the day the offering was announced.

Under Canada's Income Tax Act, a flow-through financing allows mineral exploration companies to transfer their exploration expenses to indi...