Coeur Announces C$25 Million Private Placement
June 21 2023 - 8:50PM
Business Wire
Canadian Flow-Through Shares Private Placement
to Advance Silvertip Exploration in British Columbia
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
announced that it has arranged a private placement (the “Offering”)
of 5,276,154 flow-through common shares of the Company that will
qualify as “flow-through shares” within the meaning of subsection
66(15) of the Income Tax Act (Canada) (the “flow-through shares”)
for gross proceeds of approximately $19 million (C$25 million) and
will be subject to a six-month hold period. The Company has granted
an overallotment option of up to 3,000,000 additional flow-through
shares.
The proceeds of the Offering will be used exclusively for
qualifying Canadian Exploration Expenditures (“CEE”) (as such term
is defined in the Income Tax Act (Canada), in conducting an
exploration and mineral resource evaluation program on the
Silvertip Property in British Columbia to determine the existence,
location, extent, and quality of the silver, lead, and zinc on the
Silvertip Property. Prior to the Offering, Coeur received an
affirmative Advance Income Tax Ruling from the Canada Revenue
Agency confirming the tax consequences of certain aspects of the
Offering.
The flow-through shares will be privately placed with investors
in certain provinces in Canada pursuant to applicable exemptions
from the prospectus requirements. The initial Offering is expected
to close on or about June 27, 2023 and, if the overallotment option
is exercised, subsequent Offering is expected to close on or about
July 20, 2023. The Offering will be subject to the satisfaction or
waiver of customary closing conditions.
The flow-through shares will only be offered and sold outside
the United States pursuant to Regulation S under the Securities Act
of 1933, as amended (the “U.S. Securities Act”). The Offering has
not been, and will not be, registered under the U.S. Securities Act
or any U.S. state securities laws, and may not be offered or sold
in the United States or to, or for the account or benefit of,
United States persons absent registration or any applicable
exemption from the registration requirements of the U.S. Securities
Act and applicable U.S. state securities laws.
This news release is neither an offer to sell nor a
solicitation of an offer to buy any of these securities and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale is unlawful.
About Coeur
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing
precious metals producer with four wholly-owned operations: the
Palmarejo gold-silver complex in Mexico, the Rochester silver-gold
mine in Nevada, the Kensington gold mine in Alaska and the Wharf
gold mine in South Dakota. In addition, the Company wholly-owns the
Silvertip silver-zinc-lead exploration project in British
Columbia.
Cautionary Statements
This news release contains forward-looking statements within the
meaning of securities legislation in the United States and Canada,
including statements regarding the Company’s Silvertip exploration
project and the tax treatment of the flow-through shares. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause Coeur’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such factors include,
among others, the tax treatment of the flow-through shares, the
risk that exploration efforts will not occur on a timely basis or
at all, the risks and hazards inherent in the mining business
(including risks inherent in exploration and development
activities, environmental hazards, industrial accidents, weather or
geologically-related conditions), changes in the market prices of
gold, silver, zinc and lead and a sustained lower price or higher
treatment and refining charge environment, the uncertainties
inherent in Coeur’s production, exploratory and developmental
activities, including risks relating to permitting and regulatory
delays, changes in mining laws, ground conditions and, grade and
recovery variability, any future labor disputes or work stoppages
(involving the Company and its subsidiaries or third parties), the
uncertainties inherent in the estimation of mineral reserves,
changes that could result from Coeur’s future acquisition of new
mining properties or businesses, the loss of access or insolvency
of any third-party refiner or smelter to which Coeur markets its
production, the potential effects of the COVID-19 pandemic,
including impacts to the availability of our workforce, continued
access to financing sources, government orders that may require
temporary suspension of operations at one or more of our sites and
effects on our suppliers or the refiners and smelters to whom the
Company markets its production and on the communities where we
operate, the effects of environmental and other governmental
regulations and government shut-downs, the risks inherent in the
ownership or operation of or investment in mining properties or
businesses in foreign countries, Coeur’s ability to raise
additional financing necessary to conduct its business, make
payments or refinance its debt, as well as other uncertainties and
risk factors set out in filings made from time to time with the
United States Securities and Exchange Commission, and the Canadian
securities regulators, including, without limitation, Coeur’s most
recent reports on Form 10-K and 10-Q. Actual results, developments
and timetables could vary significantly from the estimates
presented. Readers are cautioned not to put undue reliance on
forward-looking statements. Coeur disclaims any intent or
obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, Coeur undertakes no obligation to comment on
analyses, expectations or statements made by third parties in
respect of Coeur, its financial or operating results or its
securities.
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version on businesswire.com: https://www.businesswire.com/news/home/20230621346871/en/
For Additional Information Coeur Mining, Inc. 200 S.
Wacker Drive, Suite 2100 Chicago, Illinois 60606 Attention: Jeff
Wilhoit, Director, Investor Relations Phone: (312) 489-5800
www.coeur.com
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