SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) is pleased to announce that it has closed the private placement with SSR Mining Inc. previously announced on January 3, 2020 pursuant to which SSR Mining elected to exercise its shareholder participation right.
SSR Mining purchased 1,819,074 common shares of the Company at a price of C$7.28 per share for a total investment of C$13,242,859. The common shares have a statutory hold period of four months and one day expiring May 11, 2020.
With the closing of the bought deal public offering (see news release dated December 18, 2019) 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 C$124 million of cash and no debt.
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.
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