In June 2016, Seabridge completed the acquisition of a 100% interest in the Iskut project by acquiring all the outstanding shares of SnipGold (a publicly traded company on the TSX-V) under a Plan of Arrangement. At closing Seabridge issued 695,277 shares to shareholders of SnipGold, at an exchange ratio of one share of Seabridge for 63 outstanding shares of SnipGold Corp.