05:02 PM EST, 02/18/2025 (MT Newswires) -- Skeena Resources ( SKE ) after trade Tuesday said it is raising $70.5 million in a bought-deal shares offering.

The company is selling a syndicate of underwriters 4.8-million shares priced at C$14.70 each. It also granted the group a 15% over-allotment option.

The underwriters may also choose to convert up to 2.23-million shares into tax-advantaged flow-through shares priced at C$17.93 each. If they do so, total proceeds will rise to about C$78 million. The funds raised from the flow-through shares will be used for eligible Canadian development expenses.

Funds will be used to further develop its Eskay Creek gold and silver project in British Columbia and for general corporate purposes.

Skeena shares closed up $0.11 to $15.48 on the Toronto Stock Exchange.