#SilverCrest (TSXV: $SIL.V;
OTCQX: $SVCMF) Appoints Christopher Ritchie as President; Announces Private
Placement and Grants Options
VANCOUVER,
BC - January 3, 2018 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) is pleased to announce the appointment of Christopher
Ritchie as the Company’s President, effective January 1, 2018. Mr. Ritchie will
report to N. Eric Fier, SilverCrest’s founder, CEO and Director. The Company
has also entered into a private placement with Mr. Ritchie and granted stock
options to him.
Read this news in
full at http://www.investorideas.com/CO/SILV/news/2018/01031AppointmentOfPresident.asp
Appointment of President
Mr.
Ritchie has 15 years of experience in resource-based capital markets including investment
banking, marketing, corporate strategy, network and risk management. During the
past eight years Chris (through National Bank Financial and Canaccord Genuity)
has been a key financial advisor to SilverCrest Mines Inc. and now SilverCrest
Metals Inc. He has been instrumental in creating key market relationships,
raising capital and adding strategic guidance throughout the successful growth
of both companies. Mr. Ritchie's full biography is available on the Company's
website, www.silvercrestmetals.com.
Eric
Fier, CEO, stated, "We are excited to have Chris joining our SilverCrest
Team. Chris brings with him a wealth of industry knowledge including financing,
market awareness, and investor relations skills. We are encouraged with the
growing success at SilverCrest and believe it is time to welcome Chris with his
additional skill set. Our expanded senior management team will allow us to
further concentrate our efforts on the Las Chispas Property in Northern Mexico
as well as other potential discoveries to strengthen SilverCrest's long term
growth. During his time at National Bank Financial and Canaccord Genuity, Chris
developed a lengthy committed partnership with SilverCrest and the significant
financial investment he is personally making today shows that growing
commitment. I am excited to mentor Chris in his new role."
Private Placement
The
Company has entered into a private placement agreement with Mr. Ritchie for CAD
$749,988 comprised of 451,800 units at a price of CAD $1.66 per unit. Each unit
consists of one common share and one-half of one common share purchase warrant,
with each whole warrant exercisable for one common share of SilverCrest at a
price of $2.29 for two years. The Company intends to use the proceeds of the
private placement for general working capital purposes. The securities will be
subject to a hold period of four-months and one day. No finder's fees is
payable on this private placement. The private placement is subject to the approval
of the TSX Venture Exchange. Approvals of SilverCrest's underwriters for the
Company's most recent financing completed on December 19, 2017, have been
received.
Option Grants
The
Company has granted stock options under its Stock Option Plan to Mr. Ritchie
for the purchase of 500,000 common shares of the Company at an exercise price
of $1.84 per share for a five year term expiring January 2, 2023. The stock
options vest as to 25% of the optioned shares on each of April 2, 2018, July 2,
2018, October 2, 2018, and January 2, 2019, and are subject to necessary
regulatory approvals.
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.
N. Eric
Fier, CPG, P.Eng
President & CEO
President & CEO
SilverCrest
Metals Inc.
For Further Information:
SilverCrest
Metals Inc.
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
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
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
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
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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