SilverCrest Announces C$22 Million Bought Deal Financing; SSR Mining To Exercise Its Right to Maintain Its Pro Rata Interest ...
2019年7月23日 - 9:00PM
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. and Desjardins Capital Markets, pursuant to which the
Underwriters have agreed to purchase, on a bought-deal basis,
3,762,000 common shares of the Company (“Shares”) at a price of
C$5.85 per Share for aggregate gross proceeds to the Company of
C$22.0 million (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 up to 5% of the gross proceeds of the Offering,
including any proceeds realized on exercise of the Underwriters’
Option, subject to reduced commission of 2.5% on maximum proceeds
of $500,000 received from President’s List subscribers.
SSR Mining Inc. (“SSR Mining”) has indicated
that it will elect to exercise its right to maintain its pro rata
ownership interest of up to 9.9% of the outstanding shares of
SilverCrest 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 a minimum of
718,000 shares of SilverCrest and, in the event of exercise of the
Over-Allotment Option in full, a maximum of 780,000 shares of
SilverCrest at a price of C$5.85 for aggregate proceeds of C$4.2
million (maximum C$4.6 million) in a separate non-brokered private
placement.
The net proceeds of the Offering will be used
for continued exploration and advancement of the Las Chispas
Project to feasibility level and for working capital purposes.
The Offering is scheduled to close on or about
August 15, 2019 and is subject to a number of conditions, including
receipt of all necessary securities regulatory approvals and the
approval of the TSX Venture Exchange.
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 in the United States to
Qualified Institutional Buyers pursuant to exemptions from the
registration requirements under rule 144A of the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), in
a manner that does not require the Offering to be registered 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
TSX Venture Exchange Policy 5.9 and 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.
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 state in which such offer,
solicitation or sale would be unlawful. The securities have not
been registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements.
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 Offering. 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.EngChief Executive OfficerSilverCrest Metals Inc.
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For Further Information:SilverCrest Metals
Inc.Contact: Jacy Zerb, Investor Relations
ManagerTelephone: +1 (604) 694-1730Fax: +1 (604)
357-1313Toll Free: 1-866-691-1730 (Canada &
USA)Email: info@silvercrestmetals.comWebsite:
www.silvercrestmetals.com570 Granville Street, Suite 501Vancouver,
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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