VANCOUVER, Nov. 29, 2018
/CNW/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR
Mining") announces that it has entered into an agreement with
SilverCrest Metals Inc. (TSXV:SIL) (NYSE American: SILV)
("SilverCrest") to purchase, by way of private placement, 8,220,645
common shares of SilverCrest at a price of C$3.73 per common share for total consideration
of C$30,663,006 (the "Private
Placement").
Paul Benson, President and CEO of
SSR Mining said, "SilverCrest's Las Chispas project is a compelling
investment proposition for SSR Mining by providing exposure to an
exciting high-grade development project with exploration upside in
a favourable mining jurisdiction. We look forward to building a
relationship with SilverCrest, who have demonstrated a successful
track record of discovering economic deposits that develop into
operating mines while establishing strong local support of
stakeholders including the government, ejidos and communities."
The Private Placement is expected to close on or about
December 7, 2018, following which SSR
Mining will own 9.9 percent of the issued and outstanding common
shares of SilverCrest on a non-diluted basis. The subscription
agreement entered into by the parties contains certain investor
rights which protect SSR Mining. Closing of the Private Placement
is subject to the receipt by SilverCrest of all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange and the NYSE American Stock Exchange. All common shares
issued under the Private Placement will be subject to a four month
and a day hold period under applicable Canadian securities laws
that will expire on April 8,
2019.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer
with three operations, including the Marigold mine in Nevada, U.S., the Seabee Gold Operation in
Saskatchewan, Canada and the
75%-owned and operated Puna Operations joint venture in Jujuy,
Argentina. We also have two
feasibility stage projects and a portfolio of exploration
properties in North and South
America. We are committed to delivering safe production
through relentless emphasis on Operational Excellence. We are also
focused on growing production and Mineral Reserves through the
exploration and acquisition of assets for accretive growth, while
maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Senior Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
To receive SSR Mining's news releases by
e-mail, please register using the SSR Mining website at
www.ssrmining.com.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking information within
the meaning of Canadian securities laws and forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements") concerning the anticipated developments in our
operations in future periods, and other events or conditions that
may occur or exist in the future. All statements, other than
statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use
of words or phrases such as "expects," "anticipates," "plans,"
"projects," "estimates," "assumes," "intends," "strategy," "goals,"
"objectives," "potential," "believes," or variations thereof, or
stating that certain actions, events or results "may," "could,"
"would," "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms or similar expressions. The
forward-looking statements in this news release relate to, among
other things, the expected closing date of the Private Placement
and the receipt of all required regulatory approvals, including the
approval of the TSX Venture Exchange and NYSE American Stock
Exchange. These forward-looking statements are subject to a variety
of known and unknown risks, uncertainties and other factors that
could cause actual events or results to differ from those expressed
or implied, including, without limitation, those various risks and
uncertainties identified under the heading "Risk Factors" in our
most recent Annual Information Form filed with the Canadian
securities regulatory authorities and included in our most recent
Annual Report on Form 40-F filed with the U.S. Securities and
Exchange Commission. Our forward-looking statements are based on
what our management considers to be reasonable assumptions,
beliefs, expectations and opinions based on the information
currently available to it. We cannot assure you that actual events,
performance or results will be consistent with these
forward-looking statements, and management's assumptions may prove
to be incorrect. Our forward-looking statements reflect current
expectations regarding future events and speak only as of the date
hereof and we do not assume any obligation to update
forward-looking statements if circumstances or management's
beliefs, expectations or opinions should change other than as
required by applicable law. For the reasons set out above, you
should not place undue reliance on forward-looking
statements.
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SOURCE SSR Mining Inc.