SilverCrest Secures Important Approval from COFECE
TSX: SIL | NYSE American: SILV
SilverCrest Metals Inc. is excited to announce that it has received a significant clearance decision from the Comisión Federal de Competencia Económica (COFECE) concerning its proposed arrangement with Coeur Mining, Inc. Under this agreement, Coeur will acquire all outstanding shares of SilverCrest. As per the arrangement, for each share of SilverCrest held, shareholders will receive 1.6022 shares of Coeur common stock.
Leadership Insight on the Arrangement
Eric Fier, the CEO of SilverCrest, expressed enthusiasm about this milestone. He remarked, "This approval from COFECE is pivotal for both SilverCrest and Coeur, marking a substantial step toward finalizing the arrangement. We are dedicated to creating a leading global silver company, and this decision moves us closer to that goal." SilverCrest aims to build a strong presence in the silver market through this innovative partnership.
Next Steps in the Approval Process
The arrangement is contingent upon receiving all necessary approvals and meeting certain conditions, including the backing of SilverCrest's securityholders at an upcoming special meeting. This critical meeting is scheduled to take place soon, and the anticipated completion of this arrangement is projected around mid-February.
Details About the Special Meeting
SilverCrest will hold a special meeting for securityholders where they can vote on the arrangement. This meeting is set for 10:00 a.m. Vancouver time and will take place at the offices of Cassels Brock & Blackwell LLP. Interested parties will also have the option to join via a live webcast, although virtual attendees will not be able to vote or participate in the discussion.
Action Required from Securityholders
SilverCrest reminds all securityholders that the deadline to submit proxies for voting is approaching rapidly. Proxies must be submitted ahead of the scheduled meeting time to ensure participation and enable a voice in this crucial decision-making process.
SilverCrest's Vision for the Future
SilverCrest is dedicated to expanding its asset base, primarily focusing on its Las Chispas Operation in Mexico. This acquisition is integral to SilverCrest's long-term strategy of developing high-value precious metals projects, which will ultimately lead to the operation of several silver-gold mines across the Americas. The company is driven by a seasoned management team that excels in every aspect of the mining industry, from project discovery through to successful operation.
Contact Information for Queries
For securityholders with questions regarding the meeting or the voting process, SilverCrest has provided the contact information of its proxy solicitation agent, Laurel Hill Advisory Group. This team is available to assist with any inquiries.
Frequently Asked Questions
What is the COFECE approval about?
The COFECE approval allows SilverCrest to proceed with its arrangement with Coeur Mining, where Coeur will acquire all outstanding shares of SilverCrest.
When is the special meeting for shareholders?
The special meeting for shareholders is scheduled for early February. Shareholders will vote on the proposed arrangement with Coeur.
What will SilverCrest shareholders receive from the arrangement?
SilverCrest shareholders will receive 1.6022 shares of Coeur common stock for each share of SilverCrest they hold.
What is SilverCrest's focus in the precious metals market?
SilverCrest aims to grow its asset base by developing precious metals projects and operating multiple silver-gold mines primarily in the Americas.
How can shareholders get additional information?
Shareholders can obtain more information by contacting SilverCrest's proxy solicitation agent or visiting the company's website for updates and details.
