The Prospector News

SilverCrest Closes $23,023,000 Prospectus Offering, Over-Allotment Option Exercised in Full

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

SilverCrest Closes $23,023,000 Prospectus Offering, Over-Allotment Option Exercised in Full

 

 

 

 

 

SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT:SVLC) is pleased to announce the completion of its prospectus offering announced on February 19, 2014 whereby the Company issued a total of 8,855,000 common shares at a price of $2.60 per common share for gross proceeds of $23,023,000, including exercise of the over-allotment option in full. The offering was led by Dundee Securities Ltd., and included National Bank Financial Inc., Raymond James Ltd. and PI Financial Corp. as underwriters.
The Company plans to use the net proceeds of the offering for working capital and general corporate 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.
SilverCrest Mines Inc. is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal silver and gold producer, with an estimated life of mine of 8 years and cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au) for the open pit heap leach and underground mine. SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average annual rate of 1.5 million ounces of silver and 32,800 ounces of gold over the current reserve. Major expansion and construction of the 3,000 tonnes per day conventional mill facility is nearing completion and is expected to significantly increase metals production at the Santa Elena Mine (open pit and underground) in 2014 and beyond. Exploration programs continue to make new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State with stated resources nearing 200 million ounces of Ag equivalent.

Posted March 13, 2014

Share this news article

MORE or "UNCATEGORIZED"


First Vanadium Drilling Identifies Gold System Stretching 1.4km at Its Gold Target on the Carlin Gold Trend, Nevada; Drilling Ongoing

First Vanadium Corp. (TSX-V: FVAN) (OTCQX: FVANF) (FSE: 1PY) is p... READ MORE

November 30, 2020

Pasinex Announces Third Quarter 2020 Financial Results

Pasinex Resources Limited (CSE: PSE) (FSE: PNX) reports th... READ MORE

November 30, 2020

K2 Drills 86.9 m of 4.0 g/t Gold from Surface at Mojave

K2 Gold Corporation (TSX-V: KTO) (OTCQB: KTGDF) (FRANKFURT: 23K) ... READ MORE

November 30, 2020

Clarity Gold to Acquire the Destiny Project Located in the Abitibi Region

Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) (FSE: 27G) is pleased... READ MORE

November 30, 2020

Evergold Announces Multiple Broad Gold-Silver Intercepts Near Surface at GL1 Main in Northern B.C.; Geophysics Clearly Suggests Best of Large Target Lies Just Below Current Evergold and Historical Newmont Drilling

EvergoldCorp. (TSX-V: EVER) (OTC: EVGUF) (FRA: 5EG) i... READ MORE

November 30, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions