TSX: SIL | NYSE American: SILV
VANCOUVER, BC, Feb. 6, 2025
/CNW/ - SilverCrest Metals Inc. ("SilverCrest" or the
"Company") announces that the Company's securityholders have
approved the plan of arrangement (the "Arrangement") with Coeur
Mining, Inc. ("Coeur"), whereby Coeur will indirectly, among other
things, acquire all of the issued and outstanding SilverCrest
shares. The vote was passed at SilverCrest's special meeting of
securityholders (the "Meeting") held earlier
today.
The Arrangement was approved by (i) 99.32%
of the votes cast by shareholders present in person or represented
by proxy and entitled to vote at the Meeting, (ii) 99.34% of the
votes cast by shareholders and optionholders, voting together as a
single class, present in person or represented by proxy and
entitled to vote at the Meeting, and (iii) 99.31% of
the votes cast by shareholders present in person or represented by
proxy and entitled to vote at the Meeting, excluding the votes cast
by such shareholders that were required to be excluded pursuant to
Multilateral Instrument 61-101 – Protection of Minority Security
Holders in Special Transactions. The report of
voting results will be available under the Company's profile on
SEDAR+ at www.sedarplus.ca and on EDGAR
at www.sec.gov.
The closing of the transaction is expected to occur on or
about February 14, 2025 subject to
the satisfaction or waiver of the remaining customary closing
conditions, including receipt of the approval of the Supreme Court
of British Columbia.
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals producer
headquartered in Vancouver,
BC. The Company's principal focus is its Las Chispas
Operation in Sonora, Mexico.
SilverCrest has an ongoing initiative to increase its asset base by
expanding current resources and reserves, acquiring, discovering,
and developing high value precious metals projects and ultimately
operating multiple silver-gold mines in the Americas. The
Company is led by a proven management team in all aspects of the
precious metal mining sector, including taking projects through
discovery, finance, on time and on budget construction, and
production.
Forward-Looking Statements
This news release contains "forward-looking statements"
and "forward-looking information" (collectively "forward-looking
statements") within the meaning of applicable Canadian and
United States securities
legislation. The words "potential", "expected" and similar
expressions or other words of similar meaning, and the negatives
thereof, are intended to identify forward-looking statements. These
include, without limitation, statements with respect to:
SilverCrest and the combined company's plans and expectations with
respect to the proposed Arrangement and the anticipated impact of
the proposed Arrangement on the combined company's results of
operations, financial position, growth opportunities and
competitive position, the receipt of required approvals, and the
expected timing of completion of the Arrangement.
These forward-looking statements involve significant risks
and uncertainties that could cause actual results to differ
materially from those anticipated, including, but not limited to,
the risk that any other condition to closing of the Arrangement may
not be satisfied; the risk that the closing of the Arrangement
might be delayed or not occur at all; the risk that the either
Coeur or SilverCrest may terminate the Arrangement Agreement and
either Coeur or SilverCrest is required to pay a termination fee to
the other party; potential adverse reactions or changes to business
or employee relationships of Coeur or SilverCrest, including those
resulting from the announcement or completion of the Arrangement;
the diversion of management time on transaction-related issues; the
ultimate timing, outcome and results of integrating the operations
of Coeur and SilverCrest; the effects of the business combination
of Coeur and SilverCrest, including the combined company's future
financial condition, results of operations, strategy and plans; the
ability of the combined company to realize anticipated synergies in
the timeframe expected or at all; changes in capital markets and
the ability of the combined company to finance operations in the
manner expected; the risk that Coeur or SilverCrest may not receive
the required stock exchange and regulatory approvals of the
Arrangement; the expected listing of consideration shares on the
NYSE; the risk of any litigation relating to the proposed
Arrangement; the risk of changes in governmental regulations or
enforcement practices; the effects of commodity prices, life of
mine estimates; the timing and amount of estimated future
production; the risks of mining activities; and the fact that
operating costs and business disruption may be greater than
expected following the public announcement or consummation of the
Arrangement. Expectations regarding business outlook, including
changes in revenue, pricing, capital expenditures, cash flow
generation, strategies for the combined company's operations, gold
and silver market conditions, legal, economic and regulatory
conditions, and environmental matters are only forecasts regarding
these matters.
Additional factors that could cause results to differ
materially from those described above can be found in SilverCrest's
management information circular in connection with the Meeting and
SilverCrest's annual information form for the year ended
December 31, 2023, which are filed
with the SEC and on SEDAR+ and available from SilverCrest's website
at www.silvercrestmetals.com under the "Investors" tab, and in
other documents SilverCrest files with the SEC or on SEDAR+. All
forward-looking statements speak only as of the date they are made
and are based on information available at that time. SilverCrest
does not assume any obligation to update forward-looking statements
to reflect circumstances or events that occur after the date the
forward-looking statements were made or to reflect the occurrence
of unanticipated events except as required by applicable securities
laws. As forward-looking statements involve significant risks and
uncertainties, caution should be exercised against placing undue
reliance on such statements.
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SOURCE SilverCrest Metals Inc.
