/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
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UNITED STATES/
TSX-V: SIL
VANCOUVER, Dec. 6, 2016
/CNW/ - SilverCrest Metals Inc. ("SilverCrest" or the "Company") is
pleased to announce the completion of its prospectus offering
announced on November 15, 2016 whereby the Company issued a
total of 4,550,000 units of the Company ("Units") at a price
of C$2.20 per Unit (the "Issue
Price") for gross proceeds of $10,010,000 (the "Offering"). Each Unit consists
of one common share of SilverCrest (a "Common Share") and one half
of one common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant will entitle the holder to acquire one
common share of SilverCrest at an exercise price of C$3.00 until December 6, 2018.
The Offering was led by National Bank Financial Inc., and
included PI Financial Corp. and Canaccord Genuity Corp. as
underwriters. The Company paid the underwriters a cash
commission of 6% of the gross proceeds of the Offering.
SilverCrest granted the Underwriters an option (the
"Underwriters' Option"), exercisable at any time, in whole or in
part, until the date that is 30 days following the closing of the
Offering, to purchase up to an additional 15% of the number of
Units solely to cover over-allotments, if any, and for market
stabilization purposes. The Underwriters can elect to exercise the
option for Units, Common Shares only, Warrants only, or any
combination thereof.
The net proceeds of the Offering will be used to continue Phase
II of the exploration program at SilverCrest's Las Chispas
Property, for mineral property payments primarily related to the
Las Chispas Property and for general corporate purposes.
The Offering is subject to final approval of the TSX Venture
Exchange.
The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered
or sold in the United States
absent an exemption from registration.
ABOUT SILVERCREST METALS INC.
SilverCrest is a
Canadian precious metals exploration company headquartered in
Vancouver, BC, that is focused on
new discoveries, value-added acquisitions and targeting production
in Mexico's historic precious
metal districts. The Company is led by a proven management team in
all aspects of the precious metal mining sector, including the
pioneering of a responsible "phased approach" business model taking
projects through discovery, finance, on time and on budget
construction, and production with subsequent increased value to
shareholders.
N. Eric Fier, CPG,
P.Eng.
CEO and President
SilverCrest Metals
Inc.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within
the meaning of Canadian securities legislation. Such forward
looking statements concern the net proceeds from the Offering and
the intended use of proceeds. Such forward looking statements or
information are based on a number of assumptions, which may prove
to be incorrect. Assumptions have been made regarding, among other
things: conditions in general economic and financial markets;
timing and amount of capital expenditures; fluctuations in currency
markets and effects of regulation by governmental agencies. The
actual results could differ materially from those anticipated in
these forward looking statements as a result of the risk factors
including: the availability of funds; the timing and content of
work programs; results of exploration activities of mineral
properties; the interpretation of drilling results and other
geological data; fluctuations in exchange rates (particularly the
Mexican peso, Canadian dollar and U.S. dollar) and general
market and industry conditions. Forward-looking statements are
based on the expectations and opinions of the Company's management
on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such,
readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date the
statements were made. The Company undertakes no obligation to
update or revise any forward-looking statements included in this
news release if these beliefs, estimates and opinions or other
circumstances should change, except as otherwise required by
applicable law.
SOURCE SilverCrest Metals Inc.
