SilverCrest Closes $23,023,000 Prospectus Offering, Over-Allotment Option Exercised in Full
13 Março 2014 - 9:38AM
Marketwired
SilverCrest Closes $23,023,000 Prospectus Offering, Over-Allotment
Option Exercised in Full
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 13, 2014) -
SilverCrest Mines Inc. (the "Company") (TSX:SVL)(NYSEMKT:SVLC) is
pleased to announce the completion of its prospectus offering
announced on February 19, 2014 whereby the Company issued a total
of 8,855,000 common shares at a price of $2.60 per common share for
gross proceeds of $23,023,000, including exercise of the
over-allotment option in full. The offering was led by Dundee
Securities Ltd., and included National Bank Financial Inc., Raymond
James Ltd. and PI Financial Corp. as underwriters.
The Company plans to use the net proceeds of the offering for
working capital and general corporate purposes.
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.
SilverCrest Mines Inc. (TSX:SVL)(NYSEMKT:SVLC) is a Canadian
precious metals producer headquartered in Vancouver, BC.
SilverCrest's flagship property is the 100%‐owned Santa Elena Mine,
located 150 km northeast of Hermosillo, near Banamichi in the State
of Sonora, México. The mine is a high‐grade, epithermal silver and
gold producer, with an estimated life of mine of 8 years and cash
costs of $11 per ounce of silver equivalent (55:1 Ag:Au) for the
open pit heap leach and underground mine. SilverCrest anticipates
that the new 3,000 tonnes per day conventional mill facility at the
Santa Elena Mine should recover an average annual rate of 1.5
million ounces of silver and 32,800 ounces of gold over the current
reserve. Major expansion and construction of the 3,000 tonnes per
day conventional mill facility is nearing completion and is
expected to significantly increase metals production at the Santa
Elena Mine (open pit and underground) in 2014 and beyond.
Exploration programs continue to make new discoveries at Santa
Elena and also have rapidly advanced the definition of a large
polymetallic deposit at the La Joya property in Durango State with
stated resources nearing 200 million ounces of Ag equivalent.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements"
within the meaning of Canadian securities legislation and the
United States Securities Litigation Reform Act of 1995. Such
forward-looking statements concern the Company's anticipated
results and developments in the Company's operations in future
periods, planned exploration and development of its properties,
plans related to its business and other matters that may occur in
the future. These statements relate to analyses and other
information that are based on expectations of future performance,
including silver and gold production and planned work programs.
Statements concerning reserves and mineral resource estimates may
also constitute forward-looking statements to the extent that they
involve estimates of the mineralization that will be encountered if
the property is developed and, in the case of mineral reserves,
such statements reflect the conclusion based on certain assumptions
that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which could
cause actual events or results to differ from those expressed or
implied by the forward-looking statements, including, without
limitation: risks related to precious and base metal price
fluctuations; risks related to fluctuations in the currency markets
(particularly the Mexican peso, Canadian dollar and United States
dollar); risks related to the inherently dangerous activity of
mining, including conditions or events beyond our control, and
operating or technical difficulties in mineral exploration,
development and mining activities; uncertainty in the Company's
ability to raise financing and fund the exploration and development
of its mineral properties; uncertainty as to actual capital costs,
operating costs, production and economic returns, and uncertainty
that development activities will result in profitable mining
operations; risks related to reserves and mineral resource figures
being estimates based on interpretations and assumptions which may
result in less mineral production under actual conditions than is
currently estimated and to diminishing quantities or grades of
mineral reserves as properties are mined; risks related to
governmental regulations and obtaining necessary licenses and
permits; risks related to the business being subject to
environmental laws and regulations which may increase costs of
doing business and restrict our operations; risks related to
mineral properties being subject to prior unregistered agreements,
transfers, or claims and other defects in title; risks relating to
inadequate insurance or inability to obtain insurance; risks
related to potential litigation; risks related to the global
economy; risks related to the Company's status as a foreign private
issuer in the United States; risks related to all of the Company's
properties being located in Mexico and El Salvador, including
political, economic, social and regulatory instability; and risks
related to officers and directors becoming associated with other
natural resource companies which may give rise to conflicts of
interests. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward-looking statements. The Company's forward-looking
statements are based on beliefs, expectations and opinions of
management on the date the statements are made. For the reasons set
forth above, investors should not place undue reliance on
forward-looking statements.
The information provided in this news release is not
intended to be a comprehensive review of all matters and
developments concerning the Company. It should be read in
conjunction with all other disclosure documents of the Company. The
information contained herein is not a substitute for detailed
investigation or analysis. No securities commission or regulatory
authority has reviewed the accuracy or adequacy of the information
presented.
SilverCrest Mines Inc.Fred CooperInvestor Relations(604)
694-1730 / Toll Free: 1-866-691-1730(604)
694-1761info@silvercrestmines.comSilverCrest Mines Inc.J. Scott
DreverCEO(604) 694-1730 / Toll Free: 1-866-691-1730(604)
694-1761info@silvercrestmines.comwww.silvercrestmines.com
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