SilverCrest Announces US$120 Million Bought Deal Financing
February 11 2021 - 4:18PM
SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased
to announce that it has entered into an agreement with a syndicate
of underwriters (the “Underwriters”) co-led by Scotiabank, Raymond
James Ltd., and RBC Capital Markets, pursuant to which the
Underwriters have agreed to purchase, on a bought-deal basis,
13,050,000 common shares of the Company (“Shares”) at a price of
US$9.20 per Share for aggregate gross proceeds to the Company of
US$120 million (the “Offering”).
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 principal objectives for use of the net
proceeds of the Offering are to expand the Las Chispas resources
and reserves through further drilling, to optimize the mine and
processing plant design, to explore regional targets, and for
general working capital purposes.
The Offering is expected to close on or about
February 22, 2021 and is subject to a number of conditions,
including receipt of all necessary securities regulatory approvals
and the approval of the Toronto Stock Exchange and NYSE
American.
The Shares will be offered in all provinces of
Canada (except Québec) pursuant to a short form base shelf
prospectus as accompanied by a prospectus supplement and will be
offered in the United States pursuant to a supplement to the
Company’s registration statement on Form F-10 registering the
Shares under the United States Securities Act of 1933, as amended,
pursuant to the Multi-Jurisdictional Disclosure System adopted by
the United States and Canada. The Shares may also be offered on a
private placement basis in certain jurisdictions outside of Canada
and the United States pursuant to applicable prospectus exemptions.
However, there will not be any sale of Shares in any province,
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
applicable securities laws of such province, state or
jurisdiction.
A final base shelf prospectus containing
important information relating to the securities described in this
document has been filed with the securities regulatory authorities
in all provinces of Canada (except Québec). Copies of the final
base shelf prospectus, and any applicable shelf prospectus
supplement, may be obtained from Scotiabank for which contact
details are provided below. This document does not provide full
disclosure of all material facts relating to the Shares. Investors
should read the final base shelf prospectus, the accompanying
prospectus supplement and any amendments thereto for disclosure of
those facts, especially risk factors relating to the Shares, before
making an investment decision. Investing in the Shares involves
risk. See “Risk Factors” in the final base shelf prospectus and
“Risks Related to the Common Shares” in the prospectus supplement.
SilverCrest has filed a registration statement on Form F-10
(including a base shelf prospectus) with the United States
Securities and Exchange Commission (the “SEC”) for the offering to
which this communication relates. Before you invest, you should
read the prospectus supplement relating to this offering, the base
shelf prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information
about the issuer and this offering. You may obtain these documents
at no cost by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the issuer, any underwriter or any dealer
participating in the Offering will arrange to send you the base
shelf prospectus, and any applicable shelf prospectus supplement,
or you may request it in Canada from Scotiabank, Attention: Equity
Capital Markets, Scotia Plaza, 62nd Floor, 40 King Street West,
Toronto, Ontario M5H 3Y2, or by telephone at 1-416-863-7704 or by
email at equityprospectus@scotiabank.com and in the United States
from Scotiabank (USA), Attention: Equity Capital Markets, 250 Vesey
Street, 24th Floor, New York, New York, 10281, or by telephone at
1-212-225-6853 or by email at equityprospectus@scotiabank.com. No
securities regulatory authority has either approved or disapproved
of the contents of this news release.
ABOUT SILVERCREST METALS INC.SilverCrest is a
Canadian precious metals exploration and development company
headquartered in Vancouver, BC, that is focused on new discoveries,
value-added acquisitions and targeting production in Mexico's
historic precious metal districts. The Company's current focus is
on the high-grade, historic Las Chispas mining district in Sonora,
Mexico. The Las Chispas Project consists of 28 mineral concessions,
of which the Company has 100% ownership, where all the known
mineral resources and reserves are located. SilverCrest is the
first company to successfully drill-test the historic Las Chispas
Property resulting in numerous high-grade precious metal
discoveries. The Company is led by a proven management team in all
aspects of the precious metal mining sector, including taking
projects through discovery, finance, on time and on budget
construction, and production.
FORWARD-LOOKING STATEMENTSThis 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, among other things, 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: impact of the COVID-19
pandemic, 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.
N. Eric Fier, CPG, P.EngChief Executive OfficerSilverCrest Metals
Inc. |
For Further Information:SilverCrest Metals
Inc.Contact: Jacy
Zerb, Investor RelationsManager
Telephone: +1 (604)
694-1730Fax: +1
(604) 357-1313Toll
Free: 1-866-691-1730
(Canada &
USA)Email: info@silvercrestmetals.comWebsite: www.silvercrestmetals.com570
Granville Street, Suite 501Vancouver, British Columbia V6C 3P1 |
SilverCrest Metals (AMEX:SILV)
Historical Stock Chart
From Mar 2024 to Apr 2024
SilverCrest Metals (AMEX:SILV)
Historical Stock Chart
From Apr 2023 to Apr 2024