DGAP-News: SilverCrest Metals Inc. / Key word(s): Miscellaneous Vancouver, British Columbia--(Newsfile Corp. - January 18, 2018) - SilverCrest Metals Inc. (TSXV: SIL) (OTCQX: SVCMF) ('SilverCrest' or the 'Company') is pleased to report that the non-brokered private placement of $749,988 announced January 3, 2018 with Christopher Ritchie has completed. The private placement, which closed on January 17, 2018, is comprised of 451,800 units at a price of Cdn$1.66 per unit for gross proceeds of Cdn$749,988. Each unit consists of one common share and one?half of one common share purchase warrant, with each whole warrant being exercisable for one common share of SilverCrest at a price of Cdn$2.29 per share for a term of two years. No finder's fee was paid in connection with this placement. As Mr. Ritchie was appointed President concurrently with the private placement, the placement to Mr. Ritchie constitutes a 'related party transaction', within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ('MI 61-101'). The Company has relied on the exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation. The material change report was not filed more than 21 days prior to closing of the placement due to the timing of the announcement and closing occurring in less than 21 days. The shares and warrants issued under the private placement and the shares issuable upon exercise of the warrants are subject to a hold period that expires on May 18, 2018. Net proceeds from the private placement will be used for general working capital purposes. NO U.S. REGISTRATION ABOUT SILVERCREST METALS INC. N. Eric Fier, CPG, P.Eng For Further Information: SilverCrest Metals Inc. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/32099
18.01.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | SilverCrest Metals Inc. |
Canada | |
ISIN: | CA8283651062 |
End of News | DGAP News Service |
646541 18.01.2018