SilverCrest Metals Inc. (TSX-V : SIL) is pleased to announce the completion of its prospectus offering announced on July 23, 2019 whereby the Company issued a total of 4,326,300 common shares at a price of $5.85 per common share for gross proceeds of $25,308,855, including exercise of the over-allotment option in full. The Offering was led by National Bank Financial Inc. and Desjardins Capital Markets on behalf of a syndicate of underwriters that included Cormark Securities Inc., PI Financial Corp., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Eight Capital, Beacon Securities Limited, Roth Capital Partners, LLC and Scotia Capital Inc. The Company paid the underwriters an aggregate cash commission of $1,252,942. The Company plans to use the net proceeds of the Offering for continued exploration and advancement of the Las Chispas Project to feasibility level and for working capital purposes.
Pursuant to the Company’s news release dated July 23, 2019, SSR Mining Inc. agreed to purchase 780,000 shares of SilverCrest at a price of C$5.85 for aggregate proceeds of C$4.6 million in a separate non-brokered private placement. The SSR Mining private placement is scheduled to close within 3 business days of closing of the Offering.
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.
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