Seabridge said yesterday it had completed the acquisition, announced in March, adding to its exploration projects in North America.
Under the deal, Golden Predator (TSXV: GPY) received 300,000 Seabridge shares, worth C$6.67 million at Friday's close, and will gain future payments of $2.25 million and a 0.5% net smelter royalty.
Golden Predator CEO Janet Lee-Sheriff said yesterday the company could now focus on advancing its Brewery Creek mine to an early production decision, and also looked forward to being a Seabridge shareholder.
Seabridge said it would focus on 3 Aces' Central Core Area and said with additional exploration drilling, "the property could potentially advance to an initial resource with exceptional grade".
More than a quarter of the 300 holes drilled at the project to date had returned plus-8g/t gold, the company said.
Seabridge last week secured $9.9 million (US$7.2 million) in a bought-deal placement of flow-through shares priced at $32.94 per share, a 45.6% premium to the previous day's closing price on the TSX.
It said it planned to use the proceeds for exploration at its properties in British Columbia.
The company had closed a $14.1 million placement last month to an existing shareholder, priced at $11.75 per share, to address a tax issue and continue the legal challenge.
Seabridge shares hit a one-year high of $23.11 a week ago. They closed down 5.8% yesterday to $20.91 to capitalise it at $1.37 billion (US$1 billion).
Golden Predator gained 1.7% to close at 30c, a midpoint in its one-year range, capitalising it at $50.5 million (US$36.6 million).