VANCOUVER, May 14, 2020 /CNW/ - SSR Mining Inc.
(NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") 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) ("SilverCrest") 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.
For further information contact:
W. John DeCooman, Jr.
Senior Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
To receive SSR Mining's news releases by
e-mail, please register using the SSR Mining website at
www.ssrmining.com.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking information within
the meaning of Canadian securities laws and forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements") concerning the anticipated developments in our
operations in future periods, and other events or conditions that
may occur or exist in the future. All statements, other than
statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use
of words or phrases such as "expects," "anticipates," "plans,"
"projects," "estimates," "assumes," "intends," "strategy," "goals,"
"objectives," "potential," "believes," or variations thereof, or
stating that certain actions, events or results "may," "could,"
"would," "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms or similar
expressions. These forward-looking statements are
subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ
from those expressed or implied, including, without limitation,
those various risks and uncertainties identified under the heading
"Risk Factors" in our most recent Annual Information Form filed
with the Canadian securities regulatory authorities and included in
our most recent Annual Report on Form 40-F filed with the U.S.
Securities and Exchange Commission. Our forward-looking statements
are based on what our management considers to be reasonable
assumptions, beliefs, expectations and opinions based on the
information currently available to it. We cannot assure you that
actual events, performance or results will be consistent with these
forward-looking statements, and management's assumptions may prove
to be incorrect. Our forward-looking statements reflect current
expectations regarding future events and speak only as of the date
hereof and we do not assume any obligation to update
forward-looking statements if circumstances or management's
beliefs, expectations or opinions should change other than as
required by applicable law. For the reasons set out above, you
should not place undue reliance on forward-looking
statements.
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SOURCE SSR Mining Inc.