SSR MINING ANNOUNCES CLOSING OF TAIGA GOLD ACQUISITION
DENVER, April 14, 2022 /CNW/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) ("SSR Mining" or the "Company") is pleased to announce that it has completed the previously announced plan of arrangement (the "Arrangement") to acquire all of the issued and outstanding shares of Taiga Gold Corp. (CSE: TGC) ("Taiga Gold").
With this transaction, SSR Mining has consolidated a 100% interest in the Fisher property contiguous to its Seabee mine, eliminated a 2.5% net smelter return ("NSR") royalty on the Fisher property, and added five new properties covering over 29,100 hectares to complement the Company's existing exploration platform in the underexplored and geologically prospective Province of Saskatchewan. SSR Mining's Saskatchewan assets now cover an area of approximately 131,150 hectares.
Under the terms of the Arrangement, SSR Mining acquired all of the issued and outstanding common shares of Taiga Gold ("Common Shares") by way of a court-approved plan of arrangement under Section 193 of the Business Corporations Act (Alberta). Each Taiga Gold shareholder will receive cash consideration of C$0.265 without interest for each Common Share held, representing aggregate consideration of approximately C$30 million.
The Common Shares will be delisted from the Canadian Securities Exchange, following which, Taiga Gold will cease to be a reporting issuer under applicable Canadian securities laws.
SSR Mining Inc. is a leading, free cash flow focused 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 2021, the four operating assets produced approximately 794,000 gold-equivalent ounces. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.
F. Edward Farid, Executive Vice President, Chief Corporate Development Officer
Alex Hunchak, Director, Corporate Development and Investor Relations
SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (416) 306-5789
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Cautionary Note Regarding Forward-Looking Information and Statements:
Except for statements of historical fact relating to us, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of applicable 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 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.
Forward-looking information and statements in this news 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 information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because we can give no assurance that they will prove to be correct. Forward-looking information and 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 news 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 Securities and Exchange Commission on EDGAR and the Canadian securities regulatory authorities on SEDAR.
Forward-looking information and statements in this news release include any statements concerning, among other things: delisting of Taiga Gold shares and deregistration of Taiga Gold; and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, environmental, regulatory, and political matters that may influence or be influenced by future events or conditions.
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 on EDGAR and SEDAR. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.
The above list is not exhaustive of the factors that may affect any of the Company's forward-looking information. 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 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. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
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SOURCE SSR Mining Inc.
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