Pershing Acquisition Update and 2019 Guidance
On January 9, 2019, Americas Silver Corporation and Pershing Gold Corporation (“Pershing Gold”) announced their respective shareholders provided the requisite approvals for the previously announced business combination transaction (the “Transaction”) between the two companies. Completion of the Transaction remains subject to satisfaction or waiver of certain customary conditions, including the completion of review and approval by the Committee on Foreign Investment in the United States (“CFIUS”) (discussed in Americas Silver’s January 2, 2019 press release). All deadlines for declarations and transactions under review by CFIUS are currently tolled due to the lapse in appropriations attributable to the partial U.S. government shutdown.
In anticipation of the closing of the Transaction, discussions are proceeding well with parties interested in providing financing for the development of the Relief Canyon Mine. As a result of the delay in closing, the Company is assessing its 2019 guidance and intends to update the market upon completion of the Transaction.
