On Friday (10 April), several Canadian companies completed capital raises and boosted their cash balances, including Skeena Resources (TSX:SKE) which completed a US$750 million ($1.05 billion) senior secured notes offering.
The offering of the notes represents a refinancing strategy designed to optimise Skeena’s capital structure by reducing its overall cost of capital and enhancing financial flexibility.
Funds will be used to repurchase 66.67% of the gold stream for US$184 million to increase Skeena’s exposure to gold prices and future production from Eskay Creek, as well as US$470 million towards construction at the Eskay Creek Project in British Columbia.
Skeena will also use US$94 million towards prefund interest on the notes for 18 months.
The senior secured notes will mature in 2031 and are non-callable for the first two years.
Skeena also completed the drawing of the full US$200 million gold stream in 2025 to support construction activities at Eskay Creek. As part of the deal, the company retains the option to repurchase 66.67% of the gold stream at an 18% imputed internal rate of return following the start of commercial production.
By completing this transaction, the company says it materially improves future operating margins, increases its exposure to gold prices and future production, and enhances overall project economics.
Capital in Canada
Selkirk Copper Mines (TSX-V:SCMI) has also amended an agreement with a syndicate of underwriters, led by Canaccord Genuity, to increase a private placement to US$30 million.
The offering will comprise 4.41 million flow-through shares at US$1.70 and 19.56 million common shares at US$1.15.
Funds will be used to continue developing the Minto Mine in Canada, as well as general working capital.
The offering is expected to close on or about 30 April 2026.
Goldstorm Metals (TSX-V:GSTM) is also conducting a private placement to raise C$4 million via the issue of HD units and flow-through units.
The HD units have an issue price of C$0.20, while the flow-through units have an issue price of C$0.24.
Each HD unit will comprise one common share and half of a share purchase warrant, exercisable at C$0.30 for a 36-month period.
The funds will be used for Canadian exploration expenses. The offering is expected to close on or about 30 April 2026.
Meanwhile, over in the US, One and One Green Technologies (NASDAQ:YDDL) has entered into a securities purchase agreement with two institutional investors for the issue of 1.73 million units at US$7.50 per unit, to raise US$13 million.
Each unit consists of one Class A organisation share and one warrant to purchase 1.5 ordinary shares.
The funds will be used for general working capital and corporate purposes. The offering is expected to close on or about 13 April 2026.
FT Global Capital is acting as the exclusive placement agent for the offering.
Write to Aaliyah Rogan at Mining.com.au
Images: Skeena Resources & Selkirk Copper Mines
