Seabridge Gold secures $100M credit facility for KSM project work

Seabridge Gold Inc. (TSX: SEA) (NYSE: SA) has entered into an unsecured, short-term loan agreement with a strategic investor for up to $100 million to fund ongoing work at its KSM Project in British Columbia.

The loan carries a 7% interest rate compounded monthly and matures on December 31, 2026. It is drawable at the company's election in minimum increments of $10 million. No amounts have been drawn as of the announcement date.

The company said the funds would support its 2026 summer season work programs at KSM, which include road construction for access to future infrastructure areas and the collection of geotechnical, metallurgical, and environmental data through drilling, test pitting, and sampling. The data is intended to support feasibility-level design and engineering activities at the project.

The loan is repayable in cash at any time or, under certain circumstances and subject to Toronto Stock Exchange approval, in common shares of Seabridge at maturity, at the company's option.

Chair and CEO Rudi Fronk said the financing supports "significant investments we are making in our summer season work programs at our 100% owned KSM Project."

Seabridge holds a 100% interest in several North American gold projects, with principal assets including KSM and the Bronson Corridor in British Columbia's Golden Triangle, as well as the Snowstorm project in Nevada and the 3 Aces project in the Yukon.

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