Seabridge Gold Inc. announced on February 14, 2025, and shall close on February 19, 2025, an $80.1 million USD ($108.4 million CAD) bought deal offering of 6,540,000 common shares at US$12.25 (C$16.50) per share. The syndicate of underwriters, led by RBC Dominion Securities Inc. and Cantor Fitzgerald Canada Corporation as co-lead underwriters and joint bookrunners, included B. Riley Securities, Inc., Red Cloud Securities Inc., and SCP Resource Finance LP. The underwriting commission was 4%, totaling US$3.2 million (C$4.3 million). Net proceeds of US$76.9 million (C$104.7 million) will fund the KSM gold-copper project in British Columbia, including payments to BC Hydro, feasibility study preparations, and general corporate purposes. An over-allotment option for 981,000 shares could increase gross proceeds to US$92.1 million (C$124.6 million).

Seabridge also secured a US$20.1 million (C$27.2 million) private placement at the same price, conditional on raising a minimum of US$80 million.

Legal advisors included DuMoulin Black LLP (Canada), Thorsteinssons LLP (Canadian tax), Carter Ledyard & Milburn LLP (U.S.), Bennett Jones LLP (Canadian counsel to underwriters), and Cooley LLP (U.S. counsel to underwriters). The Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) listings remain subject to customary approvals.