VANCOUVER, May 14, 2020 /CNW/ - SSR Mining Inc. (NASDAQ:SSRM - News) (TSX:SSRM - News) ("SSR Mining") is pleased to announce that it has completed an on-market transaction to divest 9,000,645 common shares of SilverCrest Metals Inc. (TSX:SIL.TO - News) (NYSE American: SILV) ("SilverCrest") at a price of C$10.06 per share for gross proceeds of approximately C$90 million. Following the transaction SSR Mining does not hold any SilverCrest shares.
Paul Benson, President and CEO of SSR Mining said, "This has been a great outcome for both companies' shareholders. We secured a pre-tax gain of C$55 million on our investment of C$35 million over an 18-month period, while our equity investment helped fund SilverCrest's exciting project and strengthen their balance sheet. I would like to thank Eric Fier and his team for the tremendous job they have done advancing the high-grade Las Chispas project to this stage."
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer with three operations, including the Marigold gold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and Puna Operations 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.
Toll free: +1 (888) 338-0046
All others: +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 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. 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.
SOURCE SSR Mining Inc.
View original content: http://www.newswire.ca/en/releases/archive/May2020/14/c4285.html