#Mining #Stock News: SilverCrest
(TSXV: $SIL.V; NYSE: $SILV) Announces Closing of Equity Participation Right by
SSR Mining
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES
Vancouver,
British Columbia - August 19, 2019 (Investorideas.com Newswire) SilverCrest
Metals Inc. (TSXV: SIL.V; 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 July 23, 2019 pursuant to which SSR
Mining elected to exercise its equity participation right to maintain a 9.9%
interest in SilverCrest.
SSR
Mining purchased 780,000 common shares of the Company at a price of C$5.85 per
share for a total investment of C$4,563,000. The common shares have a statutory
hold period of four months and one day expiring December 17, 2019. The private
placement remains subject to final approval of the TSX Venture Exchange.
N. Eric
Fier, CPG, P.Eng and CEO commented, "We are pleased that SSR Mining has
elected to exercise its equity participation right and maintain its 9.9%
holding in SilverCrest. This further investment by SSR Mining is an important
endorsement of the Las Chispas project from a mining company that has an
established reputation and track record of financial discipline and operating
performance."
With the
closing of the bought deal public offering (see news release dated August 15,
2019) and exercise by SSR Mining of its equity participation right, SilverCrest
has C$49 million of cash and is in a robust financial position to advance the
Las Chispas Project in Sonora, Mexico.
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. SilverCrest
is the first company to successfully drill-test the historic Las Chispas
Project resulting in numerous 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking
statements" within the meaning of Canadian securities legislation. Such
forward-looking statements concern the intended use of proceeds and the
scheduled closing date for the non-brokered 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.
For Further Information:
SilverCrest Metals Inc.
Contact: Jacy Zerb, Investor Relations Manager
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
Contact: Jacy Zerb, Investor Relations Manager
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Vancouver, British Columbia V6C 3P1
Neither TSX Venture Exchange nor its Regulation Services
Provider (as defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
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