Overview of the Completion of the Arrangement
SilverCrest Metals Inc. (NYSE American: SILV) has successfully finalized its previously announced arrangement with Coeur Mining, Inc. This strategic move marks a significant milestone for SilverCrest as it aligns with Coeur's broader goals in the mining sector. Through this arrangement, Coeur has acquired all issued and outstanding shares of SilverCrest, enhancing its portfolio in precious metals.
Shareholder Benefits and Considerations
This arrangement provided SilverCrest shareholders with a compelling consideration of 1.6022 shares of Coeur common stock for each SilverCrest share they held. This exchange is designed to incentivize and reward current shareholders, allowing them to benefit from the overarching growth and stability provided by Coeur Mining’s resources and operational capabilities.
Future of SilverCrest Shares
In light of the arrangement's completion, SilverCrest shares are expected to be delisted from stock exchanges soon, specifically the Toronto Stock Exchange and the NYSE American, within a few business days. As a further step, SilverCrest will pursue the cessation of its status as a reporting issuer in jurisdictions where it was previously active. This transition signifies a commitment to a streamlined operational process and focus on integrated activities with Coeur Mining.
Key Steps for Shareholders Post-Arrangement
Shareholders eager to grasp the benefits of this transition are reminded to consult SilverCrest's management information circular for specific procedures applicable to receiving their due shares. Those holding shares directly must complete necessary documentation and coordinate with Computershare Investor Services Inc. to ensure a smooth exchange. On the other hand, shareholders with their investment managed through intermediaries are encouraged to reach out for tailored guidance.
Company Contacts for Investor Guidance
If any questions arise concerning the transition, SilverCrest shareholders can connect with Computershare Investor Services Inc. via the toll-free number 1-800-564-6253 for North America or 1-514-982-7555 for others. Additionally, the investor relations team remains open to communications via email, ensuring that all inquiries regarding the matter are addressed promptly.
Frequently Asked Questions
What was the arrangement between SilverCrest and Coeur Mining?
The arrangement involved Coeur Mining acquiring all outstanding shares of SilverCrest, thereby strengthening its position in the precious metals market.
How many shares of Coeur will SilverCrest shareholders receive?
SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for every SilverCrest share they hold as part of the arrangement.
When will SilverCrest shares be delisted?
SilverCrest shares are expected to be delisted within two to three business days following the completion of the arrangement.
What steps should shareholders take to receive their shares?
Shareholders should review SilverCrest's management circular and coordinate with Computershare Investor Services Inc. for the specifics regarding their share conversion.
Who should shareholders contact for inquiries?
Shareholders can reach out to Computershare Investor Services Inc. at the provided contact numbers for any inquiries regarding the arrangement.
