Skeena Resources Closes C$143.8 Million Bought Deal Financing

Rhea-AI Summary

Skeena Resources (TSX: SKE, NYSE: SKE) closed a bought deal financing on Oct 8, 2025 issuing 5,991,500 common shares at C$24.00 per share for gross proceeds of C$143,796,000, including full exercise of a 781,500-share over-allotment option. The offering was completed under prospectus supplements in Canada (excluding Quebec) and the U.S. registration on Form F-10.

Underwritten by BMO Capital Markets with a syndicate of major banks, proceeds will fund advancement of the Eskay Creek gold-silver project and general corporate purposes.

Positive

• Gross proceeds of C$143,796,000 raised
• Over-allotment option fully exercised for 781,500 shares
• Proceeds earmarked to advance Eskay Creek project
• Syndicate led by BMO Capital Markets with multiple underwriters

Negative

• Issued 5,991,500 new common shares, increasing share count
• Offering priced at C$24.00 per share may dilute existing holders

Insights

Equity Capital Markets Analyst

Bought‑deal raise of C$143,796,000 closed on Oct. 08, 2025; proceeds earmarked for Eskay Creek and corporate purposes.

Skeena Resources completed a firm bought‑deal offering of C$143,796,000 via sale of 5,991,500 common shares at C$24.00 per share, including full exercise of a 781,500‑share over‑allotment. The financing used a prospectus supplement under the company’s shelf and a U.S. registration statement and was bookrun by BMO Capital Markets with a listed syndicate of underwriters.

The business mechanism is straightforward: immediate capital inflow designated for continued advancement of the Eskay Creek project and general corporate purposes. The definitive facts are the gross proceeds, share count, price, and stated use of proceeds; no operational details or timelines were disclosed in the release.

Key dependencies to track are public disclosures on how the proceeds are allocated to Eskay Creek and subsequent corporate filings that quantify spending. Expect near‑term updates in routine financial or project communications; monitor planned milestones and any prospectus/MD&A entries for expense breakdowns over the coming quarters.

VANCOUVER, British Columbia, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Skeena Resources Limited (TSX: SKE, NYSE: SKE) (“Skeena Gold & Silver”, “Skeena” or the “Company”) is pleased to announce the closing of the previously announced bought deal offering of 5,991,500 common shares of the Company (the “Common Shares”), at a price of C$24.00 per Common Share (the “Offering Price”) for gross proceeds of C$143,796,000 (the “Offering”), which includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 781,500 Common Shares at the Offering Price.

The Common Shares are offered by way of a prospectus supplement to the Company’s base shelf prospectus (the “Base Shelf Prospectus”) in all of the provinces of Canada, excluding Quebec. The Common Shares are also offered by way of a U.S. prospectus supplement to the Company’s registration statement on Form F-10 (including the Base Shelf Prospectus) in the United States.

BMO Capital Markets acted as sole bookrunner for the Offering, on behalf of a syndicate of underwriters which includes UBS Securities Canada Inc., Raymond James Ltd., RBC Dominion Securities Inc., TD Securities Inc., CIBC World Markets Inc., SCP Resource Finance LP, Agentis Capital Markets (First Nations Financial Markets LP), Canaccord Genuity Corp. and Desjardins Securities Inc.

The proceeds raised from the sale of the Common Shares will be used for continued advancement of the Company’s Eskay Creek gold-silver project and for general corporate purposes.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About Skeena
Skeena is a leading precious metals developer that is focused on advancing the Eskay Creek Gold-Silver Project – a past producing mine located in the renowned Golden Triangle in British Columbia, Canada. Eskay Creek will be one of the highest-grade and lowest cost open-pit precious metals mines in the world, with substantial silver by-product production that surpasses many primary silver mines. Skeena is committed to sustainable mining practices and maximizing the potential of its mineral resources. In partnership with the Tahltan Nation, Skeena strives to foster positive relationships with Indigenous communities while delivering long-term value and sustainable growth for its stakeholders.

Contact Information:
Galina Meleger
Vice President Investor Relations
E: info@skeenagold.com
T: 604-684-8725

Cautionary note regarding forward-looking statements
Certain statements and information contained or incorporated by reference in this news release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation (collectively, “forward-looking statements”). These statements relate to future events or our future performance. The use of words such as “anticipates”, “believes”, “proposes”, “contemplates”, “generates”, “targets”, “is projected”, “is planned”, “considers”, “estimates”, “expects”, “is expected”, “potential” and similar expressions, or statements that certain actions, events or results “may”, “might”, “will”, “could”, or “would” be taken, achieved, or occur, may identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Specific forward-looking statements contained herein include, but are not limited to, the use of proceeds from the Offering; plans to advance the Eskay Creek gold-silver project to production; processing capacity of the mine; ongoing relationships with its stakeholders, including Indigenous communities; anticipated costs of the mine; anticipated by-products of the mine; and the Company’s milestones. Such forward-looking statements represent the Company’s management expectations, estimates and projections regarding future events or circumstances on the date the statements are made, and are necessarily based on several estimates and assumptions that, while considered reasonable by the Company as of the date hereof, are not guarantees of future performance. Actual events and results may differ materially from those described herein, and are subject to significant operational, business, economic, and regulatory risks and uncertainties. The risks and uncertainties that may affect the forward-looking statements in this news release include, among others: the inherent risks involved in exploration and development of mineral properties, including permitting and other government approvals; changes in economic conditions, including changes in the price of gold and other key variables; changes in mine plans and other factors, including accidents, equipment breakdown, bad weather and other project execution delays, many of which are beyond the control of the Company; environmental risks and unanticipated reclamation expenses; and other risk factors identified in the Company’s MD&A for the year ended December 31, 2024, its MD&A for the six months ended June 30, 2025, the Company’s Annual Information Form dated March 31, 2025, the Company’s short form base shelf prospectus dated March 19, 2025, and in the Company’s other periodic filings with securities and regulatory authorities in Canada and the United States that are available on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov.

Readers should not place undue reliance on such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and the Company does not undertake any obligations to update and/or revise any forward-looking statements except as required by applicable securities laws.

FAQ

How much did Skeena (SKE) raise in the Oct 8, 2025 bought deal financing?

Skeena raised C$143,796,000 from the sale of common shares, including full over-allotment.

How many shares did Skeena (SKE) issue and at what price on Oct 8, 2025?

Skeena issued 5,991,500 common shares at C$24.00 per share, including a 781,500-share over-allotment.

What will Skeena (SKE) use the C$143.8M raised on Oct 8, 2025 for?

Proceeds will be used to continue advancement of the Eskay Creek gold-silver project and for general corporate purposes.

Who underwrote Skeena's (SKE) bought deal financing completed Oct 8, 2025?

BMO Capital Markets acted as sole bookrunner on behalf of a syndicate that included UBS, Raymond James, RBC, TD, CIBC, Canaccord and others.

Was Skeena's (SKE) offering on Oct 8, 2025 available to U.S. investors?

Yes, the shares were offered by way of a U.S. prospectus supplement to the company's Form F-10 registration statement.