VANCOUVER, BC and
DENVER, Sept. 16, 2020 /CNW/ - SSR Mining Inc. (TSX:
SSRM) (NASDAQ: SSRM) (ASX: SSR) ("SSR Mining") and Alacer Gold
Corp. (TSX: ASR) (ASX: AQG) ("Alacer") are pleased to announce the
successful completion of the previously announced merger of equals
transaction (the "Transaction") following the receipt of all
regulatory approvals and the satisfaction of all closing
conditions. Pursuant to a plan of arrangement (the "Arrangement")
under the Business Corporations Act (Yukon), each of the issued and outstanding
common shares of Alacer have been exchanged for 0.3246 of an SSR
Mining common share. As a result of the Arrangement, Alacer has
become a wholly owned subsidiary of SSR Mining. At the close of
market yesterday, SSR Mining had a pro forma market capitalization
of approximately US$5 billion, with
one of the strongest balance sheets and free cash flow profiles in
the gold sector.
As previously announced, the newly constituted board of
directors is comprised of five directors from each of the previous
SSR Mining and Alacer boards for a total of 10 directors, including
the CEO. Effective immediately, the SSR Mining board consists of
Michael Anglin as Chairman,
Rod Antal, Thomas Bates, Brian
Booth, Edward Dowling,
Simon Fish, Alan Krusi, Beverlee
Park, Kay Priestly and
Elizabeth Wademan.
Regarding the executive team, Rod
Antal holds the position of President & CEO of SSR
Mining and the executive team includes:
- Stewart Beckman, EVP, Chief
Operating Officer
- F. Edward Farid, EVP, Chief
Corporate Development Officer
- Gregory Martin, EVP, Chief
Financial Officer
- Michael Sparks, EVP, Chief Legal
& Administrative Officer
SSR Mining common shares continue trading under the ticker SSRM
on the Toronto Stock Exchange ("TSX") and Nasdaq Global Select
Market ("NASDAQ"), and SSR Mining CHESS Depositary Interests
("CDIs") are expected to begin trading on the Australian Securities
Exchange ("ASX") on a deferred settlement basis at 12pm on
Thursday, September 17, 2020 (AEST)
as SSR. Alacer CDIs ceased trading on the ASX at the close of
trading on Monday, September 14,
2020. Alacer is expected to be delisted from the TSX on or
about Friday, September 18, 2020
(EST) and from the ASX no later than Wednesday, September 23, 2020 (AEST).
Australian CDI Holders
In connection with the Transaction, the ASX has granted SSR
Mining approval to be admitted to the official list of the ASX and
SSR Mining CDIs to be officially quoted on the ASX. SSR Mining CDIs
will initially trade on the ASX on a deferred settlement basis for
approximately four to five trading days, following which SSR Mining
CDIs will be issued and trade on a normal settlement basis. Holding
statements (to issuer sponsored holders) and confirmation advices
(to CHESS holders) are expected to be dispatched on the issuance
date of the SSR Mining CDIs.
This information in this news release related to the timing of
Australian settlement of Alacer CDIs and issuance of SSR Mining
CDIs supplements and updates the information in respect thereof
contained in the joint management information circular of SSR
Mining and Alacer dated June 2,
2020.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused
intermediate gold company with four producing assets located in the
USA, Turkey, Canada, and Argentina, combined with a global pipeline
of high-quality development and exploration assets in the
USA, Turkey, Mexico, Peru,
and Canada. In 2019, the four
operating assets produced over 720,000 ounces of gold and 7.7
million ounces of silver.
SSR Mining's diversified asset portfolio is comprised of high
margin, long-life assets along several of the world's
most prolific precious metal districts
including the Çöpler mine along the Tethyan
belt in Turkey; the Marigold mine along the
Battle Mountain-Eureka trend in Nevada, USA; the Seabee mine along
the Trans-Hudson Corridor in Saskatchewan, Canada; and the
Puna mine along the Bolivian silver belt in Jujuy,
Argentina. SSR has an experienced
leadership team with a proven track record of value creation.
Across SSR Mining, the team has expertise in project
construction, mining (open pit and
underground), and processing (pressure oxidation, heap
leach, and flotation), with a strong commitment to health,
safety and environmental management.
SSR intends to leverage its strong balance sheet and proven
track record of free cash flow generation as foundations to
organically fund growth across the portfolio and to
facilitate superior returns to shareholders.
SSR Mining is listed under the ticker symbol SSRM on the NASDAQ
and the TSX, and SSR on the ASX.
SSR Mining Contacts
F. Edward Farid, Executive Vice
President, Chief Corporate Development Officer
Michael McDonald, Director,
Corporate Development & Investor Relations
SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (888) 338-0046 or +1 (604) 689-3846
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
Information and Statements:
Except for statements of historical fact relating to us,
certain statements contained in this press release constitute
forward-looking information, future oriented financial information,
or financial outlooks (collectively "forward-looking information")
within the meaning of Canadian securities laws. Forward-looking
information may be contained in this document and our other public
filings. Forward-looking information relates to statements
concerning our outlook, generation of free cash flow, and
anticipated events or results and in some cases, can be identified
by terminology such as "may", "will", "could", "should", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "projects",
"predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. In particular,
this press release contains forward-looking information relating
to, among other things: the anticipated timing of the trading of
SSR Mining CDIs on the ASX and the settlement thereof; and the
anticipated timing of delisting of each of Alacer's common shares
from the TSX and Alacer CDIs from the ASX
Forward-looking statements in this press release are based on
certain key expectations and assumptions made by us. Although we
believe that the expectations and assumptions on which such
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because we
can give no assurance that they will prove to be correct.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this press release. The key risks and uncertainties
include, but are not limited to: local and global political and
economic conditions; governmental and regulatory requirements and
actions by governmental authorities, including changes in
government policy, government ownership requirements, changes in
environmental, tax and other laws or regulations and the
interpretation thereof; developments with respect to the COVID-19
pandemic, including the duration, severity and scope of the
pandemic and potential impacts on mining operations; and other risk
factors detailed from time to time in our reports filed with the
Canadian securities regulatory authorities.
Such forward-looking information and statements are based on
a number of material factors and assumptions, including, but not
limited in any manner to, those disclosed in any other of our
filings, and include: the ability to realize the anticipated
benefits of the Transaction, to implement our business plan or to
integrate our business operations following the Transaction
(including the retention of key employees); the inherent
speculative nature of exploration results; the ability to explore;
communications with local stakeholders; maintaining community and
governmental relations; status of negotiations of joint ventures;
weather conditions at our operations; commodity prices; the
ultimate determination of and realization of mineral reserves;
existence or realization of mineral resources; the development
approach; availability and receipt of required approvals, titles,
licenses and permits; sufficient working capital to develop and
operate the mines and implement development plans; access to
adequate services and supplies; foreign currency exchange rates;
interest rates; access to capital markets and associated cost of
funds; availability of a qualified work force; ability to
negotiate, finalize, and execute relevant agreements; lack of
social opposition to our mines or facilities; lack of legal
challenges with respect to our properties; the timing and amount of
future production; the ability to meet production, cost, and
capital expenditure targets; timing and ability to produce studies
and analyses; capital and operating expenditures; economic
conditions; availability of sufficient financing; the ultimate
ability to mine, process, and sell mineral products on economically
favorable terms; and any and all other timing, exploration,
development, operational, financial, budgetary, economic, legal,
social, geopolitical, regulatory and political factors that may
influence future events or conditions. While we consider these
factors and assumptions to be reasonable based on information
currently available to us, they may prove to be incorrect.
You should not place undue reliance on forward-looking
information and statements. Forward-looking information and
statements are only predictions based on our current expectations
and our projections about future events. Actual results may vary
from such forward-looking information for a variety of reasons
including, but not limited to, risks and uncertainties disclosed in
our filings on our website at www.ssrmining.com, on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov and on the ASX website at
www.asx.com.au and other unforeseen events or circumstances. Other
than as required by law, we do not intend, and undertake no
obligation to update any forward-looking information to reflect,
among other things, new information or future events.
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SOURCE SSR Mining Inc.