TORONTO, Feb. 18 /CNW/ - FCMI Financial Corporation ("FCMI Financial") has acquired 375,000 common shares of Seabridge Gold Inc. (TSX-V:SEA, AMEX: SA) through the facilities of the American Stock Exchange at prices ranging between US$17.22 and US$17.40 per common share.
FCMI Financial, a company controlled by Albert D. Friedberg and members of his immediate family, owns 555,000 common shares, its affiliate Pan Atlantic Bank and Trust Ltd. owns 7,474,116 common shares and Albert D. Friedberg and his spouse own 43,400 common shares, so that FCMI Financial and persons acting jointly or in concert with it, own an aggregate of 8,072,516 common shares, representing 21.61% of the total outstanding common shares.
FCMI Financial has purchased such common shares for investment purposes and intends, subject to market conditions, to make additional acquisitions or dispositions in securities of Seabridge in the future.
In addition, accounts managed by affiliates of FCMI Financial have disposed of an aggregate of 372,032 common shares of Seabridge at prices ranging between US$17.40 and US$17.43 per common share and no longer hold any common shares of Seabridge.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.