Business
SSR Mining Exercises Equity Participation Right in SilverCrest Metals Inc. Financing
VANCOUVER, July 23, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") is pleased to announce that it has elected to exercise its
About this update from Ssr Mining Inc.
[{"type":"text","content":"VANCOUVER, July 23, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (\"SSR Mining\") is pleased to announce that it has elected to exercise its equity participation right pursuant to its agreement with SilverCrest Metals Inc. (TSXV:SIL) (NYSE American: SILV) (\"SilverCrest\") dated November 28, 2018 and will purchase 718,000 common shares of SilverCrest, on the same terms as the bought deal public offering announced by SilverCrest on July 23, 2019 (the \"Private Placement\"). The additional shares will be acquired at a price of C$5.85 per common share for total consideration of C$4,200,300. \nUpon closing of the Private Placement, SSR Mining will own a total of 8,938,645 common shares, representing approximately 9.9% of the issued and outstanding common shares of SilverCrest on a non-diluted basis. The Private Placement is expected to close concurrently with or not more than three business days after completion of the public offering by SilverCrest.\nPaul Benson, President and CEO of SSR Mining said, \"Our participation to maintain a 9.9% ownership interest in SilverCrest provides SSR Mining shareholders with exposure to a high-grade, developable deposit as management de-risks the Las Chispas project.\"\nClosing of the Private Placement is subject to the receipt by SilverCrest of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. \nAbout SSR Mining\nSSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and the 75%-owned and operated Puna Operations joint venture 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.\nTo receive SSR Mining's news releases by e-mail, please register using the SSR Mining website at www.ssrmining.com.\nCautionary Note Regarding Forward-Looking Statements\nThis news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking st...