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SilverCrest Closes $17,250,345 Bought Deal Financing, Over-Allotment Option Exercised in Full

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SilverCrest Closes $17,250,345 Bought Deal Financing, Over-Allotment Option Exercised in Full

 

 

 

 

 

SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) is pleased to announce the completion of its prospectus offering announced on April 26, 2018 whereby the Company issued a total of 8,214,450 common shares at a price of $2.10 per common share for gross proceeds of $17,250,345, including exercise of the over‑allotment option in full. The Offering was led by PI Financial Corp. and Cormark Securities Inc., and included Beacon Securities Limited, Eight Capital, National Bank Financial Inc., BMO Capital Markets, Desjardins Securities Inc. and Canaccord Genuity Corp. as underwriters. The Company paid the underwriters a cash commission of up to 6% of the gross proceeds of the Offering.

 

 

The Company plans to use the net proceeds of the Offering for updating the resource estimate and preparation of a preliminary economic assessment at the Las Chispas property; expansion and infill drilling along multiple veins at the Las Chispas property and Area 51 exploration decline at the Las Chispas property; assays, underground channel sampling, mapping, sampling and metallurgical test work on historical in situ and muck material at the Las Chispas property; baseline work, additional surface rights acquisitions, water exploration and permitting at the Las Chispas property; option payments for the Company’s Las Chispas property; and general working capital and administrative purposes.

 

 

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.

 

 

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.

 

Posted May 22, 2018

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