Mr. Eric Fier reports
SILVERCREST ANNOUNCES C$15 MILLION BOUGHT DEAL FINANCING
Silvercrest Metals Inc has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. and Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 7,143,000 common shares of the company at a price of $2.10 per share for aggregate gross proceeds to the company of $15-million.
The underwriters have been granted an option, exercisable in whole or in part, at any time within 30 days following the closing of the offering, to purchase from the company up to an additional 15 per centof the shares offered under the offering.
The company will pay the underwriters a cash commission of up to 6 per centof the gross proceeds of the offering, including any proceeds realized on exercise of the underwriters' option.
The net proceeds of the offering will be used for the company's continued exploration and drilling programs to deliver an updated resource estimate and maiden preliminary economic assessment for the Las Chispas project and for working capital purposes.The offering is scheduled to close on or about May 18, 2018, and is subject to a number of conditions, including receipt of all necessary securities regulatory approvals and the approval of the TSX Venture Exchange.
The offering is being made pursuant to a short form prospectus to be filed in each of the provinces of Canada (other than Quebec) and may be offered in the United States to qualified institutional buyers pursuant to exemptions from the registration requirements under Rule 144A of the U.S. Securities Act of 1933, as amended, in a manner that does not require the offering to be registered in the United States. The offering may be also sold in such other jurisdictions as the company and the underwriters may agree.
About Silvercrest Metals Inc.
Silvercrest is a Canadian precious metal exploration company headquartered in Vancouver, B.C., that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historical precious metal districts. The company's current focus is on the high-grade, historical Las Chispas mining district in Sonora, Mexico.
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