TORONTO, Nov. 11, 2014 /CNW/ - Pan Atlantic Bank and Trust Limited ("PABT"), an affiliate of FCMI Financial Corporation, announced today that it has acquired 14,261 common shares ("Shares") of Seabridge Gold Inc. ("Seabridge") at a price of US$6.61 and 1,200 common shares of Seabridge at a price of CDN$7.47.
As a result of these acquisitions, PABT now beneficially owns 5,429,432 Shares representing 10.41% of the outstanding Shares. FCMI Financial Corporation, which owns all of the shares of PABT, owns 555,000 Shares representing 1.06% 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% of the outstanding Shares. PABT is ultimately beneficially owned and controlled by Albert D. Friedberg and members of his immediate family. Together, PABT and these affiliates beneficially own 12.09% of the outstanding Shares.
The Shares were acquired for investment purposes only. PABT 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.
Pan Atlantic Bank and Trust Limited
Whitepark House, 1st Floor
Whitepark Road, St. Michael
SOURCE: FCMI Financial Corporation
For further information: or to obtain copy of the early warning report filed by PABT, please contact Robert Bourque at (246) 436-9756.