#Mining Stock News: #SilverCrest
(TSX: $SIL.TO; NYSE: $SILV) Announces SSR Mining Exercises Shareholder
Participation Right with $13.25 Million Private Placement
Vancouver,
British Columbia - January 3, 2020 (Investorideas.com Newswire) SilverCrest
Metals Inc. (TSX: SIL.TO; NYSE American: SILV)
("SilverCrest" or the "Company") is pleased to announce
that SSR Mining Inc. ("SSR Mining") has elected to exercise its
Shareholder Participation Right pursuant to an agreement between the Company
and SSR Mining dated November 28, 2018 (see news release dated November 29,
2018).
Accordingly,
SSR Mining has agreed to purchase 1,819,074 shares of SilverCrest for aggregate
proceeds of C$13,242,859 at the same price of C$7.28 as the bought deal public
offering announced by SilverCrest on December 3, 2019.
The net
proceeds of the private placement will be used for continued exploration and
development of the Company's Las Chispas Project and for general working
capital and administrative purposes.
The
private placement is scheduled to close on or about January 10, 2020 and is
subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory and other approvals including the approval of the Toronto
Stock Exchange.
Read this in full
at https://www.investorideas.com/CO/SILV/news/2020/01031SSRMining-PrivatePlacement.asp
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 and the scheduled closing 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.
N. Eric
Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.
Chief Executive Officer
SilverCrest Metals Inc.
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
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
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
No
securities regulatory authority has either approved or disapproved of the
contents of this news release.
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