The Underwriters have been granted an option (the “Over-Allotment Option”), exercisable in whole or in part, at any time within 30 days following the closing of the Offering, to purchase from the Company up to an additional 15% of the Shares offered under the Offering.
The Company will pay the Underwriters a cash commission of 5% of the gross proceeds of the Offering, including any proceeds realized on exercise of the Over‑Allotment Option, subject to reduced commission of 2.5% on maximum proceeds of up to C$5 million from the President’s List of subscribers.
The Company intends to use the net proceeds of the Offering for the continued exploration and development of the Company’s
The Offering is expected to close on or about
The Shares will be offered in all provinces of
A preliminary short form prospectus and a registration statement on Form F-10 (including the preliminary short form prospectus) relating to the Offering have been filed with applicable Canadian securities regulatory authorities and the
The prospectus contains important information about the Offering. Before readers invest, they should read the prospectus (as also included in the registration statement) and other documents the Company has filed with Canadian securities regulatory authorities and the
No securities regulatory authority has either approved or disapproved of the contents of this news release.
If any related parties of the Company acquire Shares under the Offering, such participation would be considered to be a "related party transaction" within the meaning of Multilateral Instrument 61‑101 ("MI 61‑101"). The Company intends to rely on the exemptions from the formal valuation and minority approval requirements of MI 61‑101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61‑101 in respect of any related party participation on the basis that neither the aggregate fair market value of the Shares to be distributed to nor the consideration to be paid by related parties will exceed 25% of the Company’s market capitalization as determined under MI 61‑101.
Pursuant to an agreement between the Company and SSR Mining Inc. (“SSR Mining”) dated
ABOUT
SilverCrest is a Canadian precious metals exploration company headquartered in
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements concern the intended use of proceeds and the scheduled closing date for the Offering. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward looking statements as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
For Further Information: | |||||
Chief Executive Officer | SilverCrest Metals Inc. | ||||
Contact: | |||||
Telephone: | +1 (604) 694-1730 | ||||
Fax: | +1 (604) 357-1313 | ||||
Toll Free: | 1-866-691-1730 ( | ||||
Email: | info@silvercrestmetals.com | ||||
Website: | www.silvercrestmetals.com | ||||
Source:
2019 GlobeNewswire, Inc., source