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Aerial view of KSM Camp

Ontario Teachers’ partners with Sprott in US$225 million funding for world class Canadian mining project

Ontario Teachers’ Natural Resources group has today partnered with Sprott Resource Streaming and Royalty, a global investment manager specializing in precious metals and real assets investing, in the US$225m issuance of a royalty convertible note by Seabridge Gold’s (TSX:SEA) (NYSE:SA) wholly-owned subsidiary, KSM Mining ULC.

The note will pay a fixed coupon of 6.5% and is to be exchanged at maturity for a silver royalty on a KSM project in northern British Columbia, Canada.

Christopher Metrakos, Managing Director, Natural Resources, at Ontario Teachers’ said: “This investment highlights Ontario Teachers’ growing commitment to invest in the global metals industry, where we can achieve inflation protection, real returns and cash flow diversification. This is an innovative structure that provides excellent exposure to a combination of fixed returns and long-term silver prices.  KSM is a world class Canadian mining project; we are proud that our funding will accelerate its development.” 

The proceeds of this sale will be used to continue ongoing physical works at KSM and advance the project towards a designation of ‘substantially started’ ahead of July 2026.

Read the full release here.