SilverCrest (TSXV: $SIL.V) Announces C$10 Million
Bought Deal Financing
VANCOUVER,
British Columbia - November 16, 2016 (Investorideas.com Newswire) NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. SilverCrest Metals Inc. (TSXV: $SIL.V)
("SilverCrest" or the "Company") is pleased to announce
that it has entered into an agreement with a syndicate of underwriters (the
"Underwriters") led by National Bank Financial Inc. ("NBF")
pursuant to which the Underwriters have agreed to purchase, on a bought deal
basis, 4,550,000 units of the Company (the "Units") at a price of
C$2.20 per Unit (the "Issue Price") for gross proceeds to the Company
of approximately C$10 million (the "Offering"). Each Unit will
consist of one common share of SilverCrest (a "Common Share") and one
half of one common share purchase warrant (each whole common share purchase
warrant, a "Warrant"). Each Warrant will entitle the holder to
acquire one common share (a "Warrant Share") of SilverCrest at an
exercise price of C$3.00. The Warrants will have a term of 24 months from the
closing of the Offering.
In
addition, SilverCrest has granted the Underwriters an option (the
"Underwriters' Option"), exercisable at any time, in whole or in
part, until the date that is 30 days following the closing of the Offering, to
purchase up to an additional 15% of the number of Units solely to cover
over-allotments, if any, and for market stabilization purposes. The
Underwriters can elect to exercise the option for Units, Common Shares only, or
Warrants only, or any combination thereof.
The
net proceeds of the Offering will be used to continue Phase II of the
exploration program at SilverCrest's Las Chispas Property and for general
corporate purposes.
The
Units to be issued under this Offering will be offered by way of a short form
prospectus in all of the provinces of Canada, except Quebec.
The
Offering is scheduled to close on or about December 6, 2016 and is subject to a
number of conditions including, but not limited to, receipt of all necessary
approvals including the approval of the TSX Venture Exchange and applicable
securities regulatory authorities.
This
press 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.
Read this release
in full at http://www.investorideas.com/CO/SILV/news/2016/11161BoughtDeal.asp
ABOUT
SilverCrest Metals INC.
SilverCrest
is a Canadian precious metals exploration 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 is led by
a proven management team in all aspects of the precious metal mining sector,
including the pioneering of a responsible “phased approach” business model
taking projects through discovery, finance, on time and on budget construction,
and production with subsequent increased value to shareholders.
N. Eric Fier, CPG, P.Eng.
CEO and President
SilverCrest Metals Inc.
CEO and President
SilverCrest Metals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contact:
SilverCrest Metals Inc.
Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
570 Granville Street, Suite 501, Vancouver, British
Columbia V6C 3P1
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Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors
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