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SSR Mining Divests SilverCrest Equity Position for C$90 Million of Gross Proceeds

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SSR Mining Divests SilverCrest Equity Position for C$90 Million of Gross Proceeds

 

 

 

 

 

SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) is pleased to announce that it has completed an on-market transaction to divest 9,000,645 common shares of SilverCrest Metals Inc. (TSX:SIL) (NYSE American: SILV) at a price of C$10.06 per share for gross proceeds of approximately C$90 million. Following the transaction SSR Mining does not hold any SilverCrest shares.    

 

Paul Benson, President and CEO of SSR Mining said, “This has been a great outcome for both companies’ shareholders. We secured a pre-tax gain of C$55 million on our investment of C$35 million over an 18-month period, while our equity investment helped fund SilverCrest’s exciting project and strengthen their balance sheet. I would like to thank Eric Fier and his team for the tremendous job they have done advancing the high-grade Las Chispas project to this stage.”

 

About SSR Mining

 

SSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold gold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and Puna Operations in Jujuy, Argentina. We also have two feasibility stage projects and a portfolio of exploration properties in North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.

 

Posted May 15, 2020

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