07:36:06 EST Fri 26 Feb 2021
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Silvercrest Metals Inc
Symbol SIL
Shares Issued 129,329,631
Close 2021-02-22 C$ 11.52
Recent Sedar Documents

Silvercrest closes $138.06-million (U.S.) bought deal

2021-02-22 11:21 ET - News Release

Mr. Eric Fier reports

SILVERCREST CLOSES US$138 MILLION BOUGHT DEAL FINANCING INCLUDING US$18 MILLION OVER-ALLOTMENT OPTION EXERCISED IN FULL

Silvercrest Metals Inc. has completed its prospectus offering announced on Feb. 11, 2021, for the issuance of a total of 15,007,500 common shares at a price of $9.20 (U.S.) per common share for gross proceeds of $138,069,000 (U.S.), including the exercise of the overallotment option in full. The offering was co-led by Scotiabank, Raymond James Ltd. and RBC Capital Markets, on behalf of a syndicate of underwriters that included PI Financial Corp. and BMO Capital Markets.

The company plans to use the net proceeds of the offering: to expand the Las Chispas resources and reserves through further drilling; to optimize the mine and processing plant design; to explore regional targets; and for general working capital purposes.

About Silvercrest Metals Inc.

Silvercrest Metals is a Canadian precious metal exploration and development company headquartered in Vancouver, B.C., that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The company's current focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. The Las Chispas project consists of 28 mineral concessions, of which the company has 100-per-cent ownership, where all the known mineral resources and reserves are located. Silvercrest is the first company to successfully drill test the historic Las Chispas property, resulting in numerous high-grade precious metal discoveries. The company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, construction and production, on time and on budget.

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