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Americas Silver and Pershing Gold Announce Completion of CFIUS Review and Expected Closing of Transaction
TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver”) and Pershing Gold Corporation (NASDAQ: PGLC) (TSX: PG
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)--Americas Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas Silver”) and Pershing Gold Corporation (NASDAQ: PGLC) (TSX: PGLC) (FWB: 7PG1) (“Pershing”) are pleased to announce that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the companies' previously announced business combination transaction (the “Transaction”) and that CFIUS has determined that there are no unresolved national security concerns with respect to the Transaction. Americas Silver and Pershing Gold expect to complete their business combination transaction on or about April 3, 2019, subject to customary closing matters. About Americas SilverAmericas Silver is a silver mining company focused on growth in precious metals from its existing asset base and execution of targeted accretive acquisitions. It owns and operates the Cosalá Operations in Sinaloa, Mexico and the Galena Mine Complex in Idaho, USA. Americas Silver holds an option on the San Felipe development project in Sonora, Mexico. For further information please see SEDAR or americassilvercorp.com. About Pershing Gold CorporationPershing Gold Corporation is an emerging gold producer whose primary asset is the Relief Canyon open‐ pit gold mine in Pershing County, Nevada. Under the Feasibility Study completed in May 2018, Relief Canyon is expected to have an average life‐of‐mine gold production of 91,000 ounces per year with cash costs of US$769 per ounce and AISC of $801 per ounce. Upon successful project financing, Relief Canyon is expected to have a short six‐to‐nine month construction period before commencing production. Pershing’s landholdings cover over 29,000 acres that include Relief Canyon Mine and surrounding lands in all directions. This provides Pershing with the opportunity to expand the Relief Canyon Mine deposit and to explore and make new discoveries nearby. Pershing is currently permitted to resume mining at Relief Canyon under the existing Plan of Operations. Cautionary Statement on Forward‐Looking InformationThis news release contains “forward‐looking information” within the meaning of applicable securities laws. Forward‐looking information includes, but is not limited to, Americas Silver’s and Pershing Gold’s expectations, intentions, plans, assumptions and beliefs with respect to, among other things, Am...