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SilverCrest Closes US$138 Million Bought Deal Financing Including US$18 Million Over-Allotment Option Exercised in Full

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SilverCrest Metals Inc. (TSX: SIL) (NYSE American: SILV) is pleased to announce the completion of its prospectus offering announced on February 11, 2021 for the issuance of a total of 15,007,500 common shares at a price of US$9.20 per common share for gross proceeds of US$138,069,000, including exercise of the over–allotment option in full. The Offering was co–led by Scotiabank, Raymond James Ltd., and RBC Capital Markets on behalf of a syndicate of underwriters that included PI Financial Corp. and BMO Capital Markets.

 

The Company plans to use the net proceeds of the Offering to expand the Las Chispas resources and reserves through further drilling, to optimize the mine and processing plant design, to explore regional targets, and for general working capital purposes.

 

ABOUT SILVERCREST METALS INC.

 

SilverCrest is a Canadian precious metals exploration and development 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, where all the known mineral resources and reserves 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.

 

Posted February 22, 2021

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