SilverCrest unveils $75M non-brokered private placement

Less than a month after National Bank Financial said it was terminating a $75 million bought-deal financing deal with SilverCrest Metals (TSX: SIL; NYSE-AM: SLV) due to the COVID-19 pandemic, the mining company says it will raise the same amount of money and possibly more through a non-brokered private placement. SilverCrest plans to issue 10 million common shares at a price of $7.50 per share, and is reserving the right to increase the issue to 13.33 million common shares for a total raise of $100 million. The financing is expected to close on April 17, and SilverCrest said it will pay a cash finder’s fee of 3% on certain placements from certain subscribers introduced by finders at arm’s length from the company.