Monday, April 27, 2020 10:19:13 AM
SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce that it has closed the private placement with SSR Mining Inc.
("SSR Mining") previously announced on April 21, 2020 pursuant to which SSR Mining elected to exercise its equity participation right.
SSR Mining purchased 3,597,291 common shares of the Company at a price of C$7.50 per share for a total investment of C$26,979,682.50.
The common shares have a statutory hold period of four months and one day expiring August 25, 2020.
With the closing of the non-brokered private placement offering (see news release dated April 17, 2020) and exercise by SSR Mining of its equity participation right, SilverCrest is in a robust financial position to advance the high-grade precious metal Las Chispas Project
in Sonora, Mexico with a cash balance of C$234 million in its treasury.
In conjunction with closing of the SSR Mining placement,
SSR Mining has advised SilverCrest that it has entered into a transaction for resale of the common shares with 2176423 Ontario Ltd.,
a corporation beneficially controlled by Mr. Eric Sprott.
For further details on this transaction, please see news release dated April 21, 2020.
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts.
The Company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico.
The Las Chispas Project consists of 28 mineral concessions, of which the Company has 100% ownership of where all the known mineral resources are located. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal discoveries.
The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States absent registration under the U.S. Securities Act and any other applicable securities laws of the United States or an applicable exemption from such registration requirements.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation. Such forward-looking statements concern the intended use of proceeds of the private placement. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; and effects of regulation by governmental agencies.
The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made.
The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Recent SSRM News
- SSR Mining Provides Update on Seabee • Business Wire • 09/23/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/09/2024 10:56:28 PM
- SSR Mining Announces Precautionary Suspension of Operations at Seabee Due to Forest Fires • Business Wire • 08/21/2024 11:48:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 08:12:22 PM
- SSR Mining Reports Second Quarter 2024 Results • Business Wire • 07/31/2024 08:10:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/31/2024 08:07:20 PM
- SSR Mining to Announce Second Quarter Consolidated Financial Results on July 31, 2024 • Business Wire • 07/09/2024 09:13:00 PM
- Nickel’s Bumpy Ride in 2023 Being Followed by Significant Rebound in 2024 • AllPennyStocks.com • 06/24/2024 09:01:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 06/06/2024 08:07:38 PM
- SSR Mining Provides Update on Çöpler Incident • Business Wire • 05/25/2024 12:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 09:26:10 PM
- SSR Mining Announces Voting Results From 2024 Annual and Special Meeting of Shareholders • Business Wire • 05/23/2024 09:25:00 PM
- SSR Mining Announces Closing of Sale of San Luis Project to Highlander Silver • Business Wire • 05/23/2024 11:00:00 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/17/2024 02:59:04 PM
- SSR Mining Provides Update on Proxy Statement • Business Wire • 05/17/2024 10:20:00 AM
- Form DEFR14A - Revised definitive proxy soliciting materials • Edgar (US Regulatory) • 05/15/2024 09:23:38 PM
- SSR Mining Inc. Sued for Securities Law Violations - Contact The Gross Law Firm Before May 17, 2024 to Discuss Your Rights - SSRM • PR Newswire (US) • 05/14/2024 09:45:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:12:46 PM
- SSR Mining Reports First Quarter 2024 Results • Business Wire • 05/08/2024 08:10:00 PM
- SSR Mining Inc. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - SSRM • PR Newswire (US) • 05/07/2024 09:45:00 AM
- Shareholders that lost money on SSR Mining Inc.(SSRM) Urged to Join Class Action - Contact The Gross Law Firm to Learn More • PR Newswire (US) • 05/03/2024 05:32:00 PM
- Class Action Filed Against SSR Mining Inc. (SSRM) - May 17, 2024 Deadline to Join - Contact The Gross Law Firm • PR Newswire (US) • 04/26/2024 09:45:00 AM
- Shareholders that lost money on SSR Mining Inc.(SSRM) Urged to Join Class Action - Contact The Gross Law Firm to Learn More • PR Newswire (US) • 04/19/2024 09:45:00 AM
- SSR Mining to Announce First Quarter Consolidated Financial Results on May 8, 2024 • Business Wire • 04/17/2024 09:00:00 PM
- SSR Mining Inc. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before May 17, 2024 to Discuss Your Rights - SSRM • PR Newswire (US) • 04/16/2024 09:45:00 AM
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