TORONTO, CANADA -- (May 24, 2013) - Seabridge Gold Inc. (SEA.TO) (SA) ("Seabridge") announces today that, as a result of a reverse takeover transaction, it has acquired ownership and control of, and now owns a total of, 5,506,500 shares (the "Shares") of Wolfpack Gold Corp. (TSX.V:WFP) (the "Company"), representing 11.04% of the outstanding shares of the Company. Seabridge is not acting jointly or in concert with any person in respect of the acquisition.
Seabridge Chairman and CEO Rudi Fronk stated that "our ownership position in Wolfpack resulted from the divesture of Seabridge's non-core exploration assets in Nevada. Our Nevada assets have taken a back seat as we have focused our work on our two large Canadian assets and we therefore wanted to get them into the hands of a company that could realize their potential value. Wolfpack is a well-funded publicly traded company with an experienced exploration team in place. Bill Threlkeld (Seabridge's Senior V.P. of Exploration) and I have agreed to join the board of Wolfpack to assist management in execution of their exploration programs."
The Shares were issued to Seabridge upon completion of a reverse takeover transaction between Tigris Uranium Corp. ("Tigris") and Wolfpack Gold Corp. ("Old Wolfpack") under which Tigris acquired all of the issued and outstanding shares of Old Wolfpack by way of a three-cornered amalgamation (the "Amalgamation"). Under the Amalgamation, Old Wolfpack amalgamated with a wholly-owned subsidiary of Tigris and shareholders of Old Wolfpack received one share of the Company for each share of Old Wolfpack held by them. Tigris then changed its name to Wolfpack Gold Corp. As a result of the Amalgamation, Seabridge received 5,506,500 shares of the Company in exchange for the 5,506,500 shares of Old Wolfpack previously held by Seabridge.
Seabridge does not presently intend to make further investments in the Company.
A copy of the related early warning report filed with the British Columbia, Ontario and Alberta Securities Commissions may be obtained from the SEDAR website (www.sedar.com) or by contacting Gloria Trujillo of Seabridge at (416) 367-9292.
ON BEHALF OF THE BOARD
Rudi Fronk, Chairman & CEO
Contact:
Seabridge Gold Inc. 106 Front Street East, Suite 400 Toronto, Ontario
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
