SilverCrest will pay a cash finder’s fee of 3% on certain placements in connection with subscriptions from certain subscribers

mining-excavator-1736293_640

SilverCrest has announced C$75m non-brokered private placement. (Credit: Khusen Rustamov from Pixabay)

SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce a non‑brokered private placement of 10,000,000 common shares of the Company at a price of C$7.50 per share for gross proceeds of C$75 million (the “Private Placement”). The common shares issued under the Private Placement will be purchased by accredited or institutional investors. SilverCrest will pay a cash finder’s fee of 3% on certain placements in connection with subscriptions from certain subscribers introduced by finder’s at arm’s length to the Company. The Company is reserving the right to increase the Private Placement to issue a total of up to 13,333,334 common shares at C$7.50 per share to raise a total of up to C$100 million.

The Company intends to use the net proceeds of the Private Placement for the continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes.

The Private Placement is scheduled to close on or about April 17, 2020 and is subject to all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and NYSE American. Resale of the common shares of the Company distributed under the Private Placement will be restricted, including a hold period in Canada of four months and one day following the closing date of the Private Placement.

Pursuant to an agreement between the Company and SSR Mining Inc. (“SSR Mining”) dated November 28, 2018 (see news release dated November 29, 2018), SSR Mining has a right to maintain its pro rata ownership interest of up to 9.9% of the outstanding shares of SilverCrest. SSR Mining must exercise such right within two business days from the date that SilverCrest gives SSR Mining notice of the Offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Source: Company Press Release