VANCOUVER, BC – March 11, 2020 - SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) led by National Bank Financial Inc., Eight Capital Corp. and Scotia Capital Inc., pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 9,100,000 common shares of the Company (“Shares”) at a price of C$8.25 per Share for aggregate gross proceeds to the Company of C$75,075,000 (the “Offering”).
The Underwriters have been granted an option (the “Over-Allotment Option”), exercisable in whole or in part, at any time within 30 days following the closing of the Offering, to purchase from the Company up to an additional 15% of the Shares offered under the Offering.
The Company will pay the Underwriters a cash commission of 5% of the gross proceeds of the Offering, including any proceeds realized on exercise of the Over-Allotment Option, subject to reduced commission of 2.5% on maximum proceeds of up to C$3,000,000 from the President’s List of subscribers.
The Company intends to use the net proceeds of the Offering for the continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes.
The Offering is expected to close on or about April 3, 2020 and is subject to a number of conditions, including receipt of all necessary securities regulatory approvals and the approval of the Toronto Stock Exchange and NYSE American.
The Offering is being made pursuant to a short form prospectus to be filed in each of the provinces of Canada (other than Quebec) and may be offered by way of private placement in the United States. The Offering may be also sold in such other jurisdictions as the Company and the Underwriters may agree.
In the event that related parties of the Company acquire Shares under the Offering, such participation would be considered to be "related party transactions" within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of any related party participation on the basis that neither the aggregate fair market value of the Shares to be distributed to nor the consideration to be paid by related parties will exceed 25% of the Company’s market capitalization as determined under MI 61-101.
Pursuant to an agreement between the Company and SSR Mining Inc. (“SSR Mining”) dated November 28, 2018 (see news release dated November 29, 2018), SSR Mining has a right to maintain its pro rata ownership interest of up to 9.9% of the outstanding shares of SilverCrest. SSR Mining must exercise such right within two business days from the date that SilverCrest gives SSR Mining notice of the Offering.
Successful Trading is the art of minimizing long term risk and maximizing capital allocation.
Recent SILV News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2024 09:01:45 PM
- SilverCrest Reports Second Quarter 2024 Financial Results • PR Newswire (US) • 08/07/2024 09:00:00 PM
- SilverCrest Reports Second Quarter 2024 Financial Results • PR Newswire (Canada) • 08/07/2024 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/16/2024 05:04:26 PM
- SilverCrest Releases 2023 ESG Report • PR Newswire (US) • 07/16/2024 11:00:00 AM
- SilverCrest Releases 2023 ESG Report • PR Newswire (Canada) • 07/16/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/11/2024 09:20:10 PM
- SilverCrest Provides Second Quarter Operational Results and Conference Call Details • PR Newswire (US) • 07/11/2024 09:00:00 PM
- SilverCrest Provides Second Quarter Operational Results and Conference Call Details • PR Newswire (Canada) • 07/11/2024 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/13/2024 11:18:55 AM
- SilverCrest Reports Results of 2024 AGM • PR Newswire (Canada) • 06/13/2024 11:00:00 AM
- SilverCrest Reports Results of 2024 AGM • PR Newswire (US) • 06/13/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 09:11:00 PM
- SilverCrest Reports First Quarter 2024 Financial Results • PR Newswire (Canada) • 05/14/2024 08:59:00 PM
- SilverCrest Reports First Quarter 2024 Financial Results • PR Newswire (US) • 05/14/2024 08:59:00 PM
- US Futures Remain Steady Amid Wall Street Caution Ahead of April PPI Report • IH Market News • 05/14/2024 11:18:01 AM
- SilverCrest Provides First Quarter Operational Results and Conference Call Details • PR Newswire (US) • 04/17/2024 09:00:00 PM
- SilverCrest Provides First Quarter Operational Results and Conference Call Details • PR Newswire (Canada) • 04/17/2024 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/11/2024 11:03:15 AM
- SilverCrest Reports Fourth Quarter and 2023 Annual Financial Results • PR Newswire (US) • 03/11/2024 11:03:00 AM
- SilverCrest Reports Fourth Quarter and 2023 Annual Financial Results • PR Newswire (Canada) • 03/11/2024 11:03:00 AM
- Form 40-F - Registration statement [Section 12] or Annual Report [Section 13(a), 15(d)] • Edgar (US Regulatory) • 03/11/2024 11:02:14 AM
- U.S. Index Futures Dip Ahead of Inflation Data and Oracle’s Earnings; Oil Prices Edge Higher • IH Market News • 03/11/2024 10:39:47 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/11/2024 10:29:47 AM
- SilverCrest Announces Updated Annual Audited Financial Statement Filing Date and Conference Call • PR Newswire (Canada) • 03/07/2024 12:30:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM