Mr. Robert Bourque of FCMI Financial reports
AFFILIATE OF FCMI FINANCIAL CORPORATION ACQUIRES SEABRIDGE SHARES
Pan Atlantic Bank and Trust Ltd., an affiliate of FCMI Financial Corp., has acquired 14,261 common shares of Seabridge Gold Inc. at a price of $6.61 (U.S.) and 1,200 common shares of Seabridge at a price of $7.47.
As a result of these acquisitions, Pan Atlantic now beneficially owns 5,429,432 shares, representing 10.41 per cent of the outstanding shares. FCMI Financial, which owns all of the shares of Pan Atlantic, owns 555,000 shares, representing 1.06 per cent of the outstanding shares. In addition, principals of the Friedberg Mercantile Group Ltd., including Albert D. Friedberg and Nancy Friedberg, and their foundations, own 322,525 shares, representing 0.62 per cent of the outstanding Shares. Pan Atlantic is ultimately beneficially owned and controlled by Mr. Friedberg and members of his immediate family. Together, Pan Atlantic and these affiliates beneficially own 12.09 per cent of the outstanding shares.
The shares were acquired for investment purposes only. Pan Atlantic or its affiliates may acquire or dispose of common shares or other securities of Seabridge in the future depending, among other factors, on market conditions.