FINANCE – Seabridge Gold Inc. June 23 said a syndicate of underwriters, led by Canaccord Genuity Corp., has agreed to purchase 1 million flow-through common shares of Seabridge at C$12.00 per share for gross proceeds of C $12 million. Seabridge has granted the underwriters an option to purchase an additional 150,000 flow-through common shares, at the same price as is applicable to the offering, exercisable at least one week prior to the closing date. Seabridge said the proceeds from the offering will be used to fund an increased exploration program at its KSM copper-gold project in northwestern British Columbia. Seabridge Chairman and CEO Rudi Fronk said, “We have been refining the targeting data obtained from the geophysical surveys completed this spring. This work has helped us to establish additional high-priority opportunities that we would like to test this year if possible. This financing will enable us to increase the number of rigs in the program.”

AGREEMENT – Seabridge Gold Inc. June 23 reported that it has entered into an agreement with the Gitanyow Wilps represented by the Gitanyow Hereditary Chiefs Office in respect of Seabridge’s KSM copper-gold project in northwestern British Columbia. Under the agreement, Seabridge is to provide funding for certain programs relating to wildlife, fish and water quality monitoring to address some of the concerns raised by the Gitanyow Huwilp, as well as for a committee to establish a means of maintaining communications about KSM project related issues. “The Gitanyow, whose territory is downstream of the KSM Project, sought certainty that their lands and resources would be protected. Through this agreement, Seabridge is providing a mechanism to monitor the potential impacts of the project on their resources, which we believe will give greater comfort that the KSM project will perform as projected, and will assist the Gitanyow Huwilp in their efforts to maintain and improve wildlife and fish populations in the region that might be impacted by the project. While we believe we have effectively addressed these issues in the project design, we also understand and respect the concerns of the Gitanyow Huwilp. Having addressed these matters in this agreement, we are pleased to have been able to achieve greater certainty for the project.”

FINANCE – Westhaven Ventures Inc. June 23 reported that it intends to complete a non-brokered private placement to raise C$425,000. The company plans to issue up to 2.5 million flow-through units. These units are being offered at a price of C13 cents per unit. Each unit will consist of one flow-through common share and one non-transferable, non-flow-through warrant. Each warrant will entitle the holder to purchase one non-flow-through common share at a price of C18 cents for a period of 24 months from the closing date of the private placement. In addition to the flow-through offering, the company intends to issue up to 1 million units at a price of C10 cents per unit with each unit consisting of one common share and one non-transferable warrant. Each warrant will entitle the holder to purchase one common share at a price of C15 cents for a period of 24 months from the closing date of the private placement. The transaction is subject to regulatory approval. Westhaven may pay up to 8 percent in finder’s fees payable in cash in connection with part of this private placement offering. Net proceeds of the offering will be used to fund near-term drill programs at the BEN and Shovelnose properties in central British Columbia, and for general work purposes.