{"id":1170994,"date":"2020-03-11T12:29:02","date_gmt":"2020-03-11T18:29:02","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016776"},"modified":"2020-03-11T12:29:02","modified_gmt":"2020-03-11T18:29:02","slug":"silvercrest-announces-54m-bought-deal-stock-drops","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1170994","title":{"rendered":"Silvercrest announces $54m bought deal, stock drops"},"content":{"rendered":"<p>SilverCrest\u00a0Metals (TSE: SIL) announced Wednesday that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial, Eight Capital and Scotia Capital, where the underwriters have agreed to purchase, on a bought-deal basis, 9.1 million common shares of the company at C$8.25 per share for aggregate gross proceeds of C$75. Million (about $54 million).<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In January,\u00a0SSR Mining\u00a0<a href=\"https:\/\/www.mining.com\/ssr-mining-gains-c2-1-million-from-silvercrest-equity-right-exercise\/\"  rel=\"noreferrer noopener\" aria-label=\"elected to exercise its equity participation right  (opens in a new tab)\">elected to exercise its equity participation right <\/a>pursuant to its agreement with\u00a0SilverCrest\u00a0to purchase \u2014 on a private placement basis \u2014\u00a0for total consideration of C$13.2 million. SSR owns 7.6% of Silvercrest\u2019s shares.\u00a0\u00a0<\/p>\n<p>The Vancouver-based miner said it intends to use the net proceeds of Wednesday\u2019s deal for continued exploration and development of the Las\u00a0Chispas\u00a0project in Mexico and for general working capital.\u00a0<\/p>\n<p>The offer is expected to close around April&nbsp;3, 2020 and is subject to regulatory approvals and the approval of the TSE and NYSE.&nbsp;<\/p>\n<p>Wednesday afternoon, Silvercrest\u2019s stock was down over 11% on the TSE. The day\u2019s trading volume reached 1.3 million, over three times the daily average. The company has a C$830 million market capitalization.&nbsp;&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net proceeds are intended for development at Las Chispas project in Mexico.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170994"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1170994"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170994\/revisions"}],"predecessor-version":[{"id":1171047,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170994\/revisions\/1171047"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1170994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1170994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1170994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}