DENVER, April 19, 2021 /CNW/ - SSR Mining Inc. (NASDAQ:
SSRM) (TSX: SSRM) (ASX: SSR) ("SSR Mining" or the
"Company") today announced that it has received acceptance
from the Toronto Stock Exchange ("TSX"), to initiate a Normal
Course Issuer Bid (the "NCIB") permitting SSR Mining to purchase
for cancellation up to 10,000,000 common shares of the Company
("Common Shares"), representing 4.5% of SSR Mining's total issued
and outstanding Common Shares. As of April
9, 2021, SSR Mining had 220,193,975 issued and outstanding
Common Shares.
SSR Mining believes that the market price of its Common Shares
does not always reflect its underlying fundamental value and future
growth prospects. SSR Mining's purchase of its Common Shares under
the NCIB will supplement the existing base dividend and is part of
its previously announced capital allocation framework for returning
excess cash to shareholders.
SSR Mining may purchase Common Shares under the NCIB over the
next twelve-month period beginning April 21,
2021 and ending April 20,
2022. Any purchases made under the NCIB will be effected
through the facilities of the TSX, NASDAQ and/or alternative
Canadian and United States trading
systems. Any purchases made pursuant to the NCIB will be made in
accordance with the rules of the TSX and will be made at market
price at the time of purchase. Under the NCIB, other than
purchases made under block purchase exemptions, the Company
may purchase up to 144,221 Common Shares on the TSX during any
trading day, which represents approximately 25% of 576,887 Common
Shares, such number being the average daily trading volume on the
TSX for the most recently completed six calendar months prior to
the TSX's acceptance of the notice of the NCIB.
In connection with the NCIB, the Company has entered into an
automatic share purchase plan with a designated broker (the
"ASPP"). The ASPP is intended to allow for the purchase of Common
Shares under the NCIB at times when it would ordinarily not be
permitted to purchase shares due to regulatory restrictions and
customary self-imposed blackout periods. The ASPP is also
intended to meet the requirements of a Rule 10b5-1 trading plan
under the U.S. Securities Exchange Act of 1934, and transactions
under the ASPP will be conducted in accordance with Rule
10b-18 under the U.S. Securities
Exchange Act of 1934.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused
intermediate 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 the USA, Turkey,
Mexico, Peru, and Canada. In 2020, the four operating assets
produced approximately 711,000 gold-equivalent ounces. SSR
Mining is listed under the ticker symbol SSRM on the NASDAQ and the
TSX, and SSR on the ASX.
SSR Mining Contacts
F. Edward Farid, Executive Vice
President, Chief Corporate Development Officer
SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (888) 338-0046 or +1 (604) 689-3846
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 includes certain statements that constitute
forward-looking information within the meaning of applicable
securities laws, including statements related to the Company's NCIB
and ASPP ("forward-looking statements"). All statements in this
news release, other than statements of historical fact, which
address events, results, outcomes or developments that SSR Mining
expects to occur are forward-looking statements. Forward-looking
statements are generally, but not always, identified by the use of
forward-looking terminology such as "expects", is "expected",
"anticipates", "plans" or "is planned", "trends", "estimates",
"intends" or "potential" or variations of such words and phrases
and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved or the negative connotation of such
terms.
SSR Mining cautions readers not to place undue reliance on
the forward-looking statements in the information and content on
this news release as a number of factors could cause actual future
results, conditions, actions or events to differ materially from
the targets, outlooks, expectations, goals, estimates or intentions
expressed in the forward-looking statements. These factors include,
but are not limited to: changes in the Company's cash position and
its ability to repurchase shares, changes in the financial markets,
changes in applicable laws and governmental regulations,
fluctuations in the price of gold, fluctuations in relative
currency values, risks related to obtaining and maintaining
necessary permits and the unpredictability of and fluctuation in
the trading price of the Company's common shares.
Additional risk factors and details with respect to risk
factors affecting the Company are set out in the Company's latest
Annual Information Form and MD&A, each under the heading "Risk
Factors", available on the SEDAR website at www.sedar.com or on
EDGAR at www.sec.gov. The foregoing should be reviewed in
conjunction with the information found in this news release. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether written or oral, or whether
as a result of new information, future events or otherwise, except
as required by applicable law.
All references to "$" in this press release are to U.S.
dollars unless otherwise stated.
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SOURCE SSR Mining Inc.