Mr. Paul Benson of SSR Mining reports
SSR MINING DIVESTS SILVERCREST EQUITY POSITION FOR C$90 MILLION OF GROSS PROCEEDS
SSR Mining Inc. has completed an on-market transaction to divest 9,000,645 common shares of Silvercrest Metals Inc. at a price of $10.06 per share for gross proceeds of approximately $90-million. Following the transaction, SSR Mining does not hold any Silvercrest shares.
Paul Benson, president and chief executive officer of SSR Mining, said: "This has been a great outcome for both companies' shareholders. We secured a pretax gain of $55-million on our investment of $35-million over an 18-month period while our equity investment helped fund Silvercrest's exciting project and strengthen their balance sheet. I would like to thank Eric Fier and his team for the tremendous job they have done advancing the high-grade Las Chispas project to this stage."
About SSR Mining Inc.
SSR Mining is a Canadian-based precious metal producer with three operations, including the Marigold gold mine in Nevada, United States, the Seabee gold operation in Saskatchewan, Canada, and Puna Operations in Jujuy, Argentina. It also has two feasibility-stage projects and a portfolio of exploration properties in North and South America.
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