SilverCrest Gains Approval for Coeur Mining Transaction Amidst Strategic Partnership Development
On February 3rd, 2025, SilverCrest Metals Inc. announced that it has successfully received clearance from Mexico's anti-trust authority, the Comisión Federal de Competencia Económica (COFECE), regarding its planned arrangement with Coeur Mining, Inc. This significant approval comes as part of a larger strategy where Coeur aims to indirectly acquire all outstanding SilverCrest shares. In exchange for each share of SilverCrest, shareholders will receive 1.6022 shares of Coeur's common stock.
N. Eric Fier, CEO of SilverCrest, expressed satisfaction over achieving this regulatory milestone, emphasizing its importance in their plan to develop a leading global silver enterprise in partnership with Coeur. With the approval from COFECE secured, both companies are now focusing on completing the arrangement, pending other necessary approvals and conditions.
The next critical step involves a special securityholder meeting scheduled for February 6, 2025, where SilverCrest's securityholders are expected to cast their votes regarding the arrangement. This meeting will take place at 10:00 AM (Vancouver time) at the Cassels Brock Blackwell LLP offices. Securityholders can also join the discussion via a live webcast but will not have the opportunity to vote in that format.
As the deadline for proxy submissions approaches, shareholders must ensure their votes are submitted by 10:00 AM (Vancouver time) on February 4, 2025. This arrangement is projected to conclude around February 14, 2025, provided all conditions are met, including shareholder approval and necessary judicial endorsements. Following the successful closing of the transaction, SilverCrest shares will be delisted from both the Toronto Stock Exchange and the NYSE American, marking a transformative phase for both companies involved.
SilverCrest operates primarily from its Las Chispas Operation located in Sonora, Mexico, and is recognized as a major Canadian precious metals producer. Their vision focuses on enlarging their asset base by enhancing current resources and reserves, while also seeking new precious metals ventures. The leadership team of SilverCrest possesses extensive experience in various sectors of precious metals mining, including project discovery, financing, and production management.
The enthusiasm surrounding this arrangement reflects the broader economic dynamics and the potential for growth in the precious metals market, especially with the continued global demand for silver. Nonetheless, both parties must navigate potential risks and uncertainties associated with approving the arrangement. Factors such as shareholder sentiment, regulatory environments, and potential disruptions from the merger could impact the outcome.
In summary, the regulatory approval from COFECE marks a pivotal step forward in SilverCrest's ambition to partner with Coeur Mining, and the upcoming special meeting may pave the way for a new dawn in their corporate journey. Shareholders are encouraged to stay informed and participate actively in the decision-making process, as this transaction is poised to reshape the future trajectory of both companies in the precious metals arena.
N. Eric Fier, CEO of SilverCrest, expressed satisfaction over achieving this regulatory milestone, emphasizing its importance in their plan to develop a leading global silver enterprise in partnership with Coeur. With the approval from COFECE secured, both companies are now focusing on completing the arrangement, pending other necessary approvals and conditions.
The next critical step involves a special securityholder meeting scheduled for February 6, 2025, where SilverCrest's securityholders are expected to cast their votes regarding the arrangement. This meeting will take place at 10:00 AM (Vancouver time) at the Cassels Brock Blackwell LLP offices. Securityholders can also join the discussion via a live webcast but will not have the opportunity to vote in that format.
As the deadline for proxy submissions approaches, shareholders must ensure their votes are submitted by 10:00 AM (Vancouver time) on February 4, 2025. This arrangement is projected to conclude around February 14, 2025, provided all conditions are met, including shareholder approval and necessary judicial endorsements. Following the successful closing of the transaction, SilverCrest shares will be delisted from both the Toronto Stock Exchange and the NYSE American, marking a transformative phase for both companies involved.
SilverCrest operates primarily from its Las Chispas Operation located in Sonora, Mexico, and is recognized as a major Canadian precious metals producer. Their vision focuses on enlarging their asset base by enhancing current resources and reserves, while also seeking new precious metals ventures. The leadership team of SilverCrest possesses extensive experience in various sectors of precious metals mining, including project discovery, financing, and production management.
The enthusiasm surrounding this arrangement reflects the broader economic dynamics and the potential for growth in the precious metals market, especially with the continued global demand for silver. Nonetheless, both parties must navigate potential risks and uncertainties associated with approving the arrangement. Factors such as shareholder sentiment, regulatory environments, and potential disruptions from the merger could impact the outcome.
In summary, the regulatory approval from COFECE marks a pivotal step forward in SilverCrest's ambition to partner with Coeur Mining, and the upcoming special meeting may pave the way for a new dawn in their corporate journey. Shareholders are encouraged to stay informed and participate actively in the decision-making process, as this transaction is poised to reshape the future trajectory of both companies in the precious metals arena.
Topics Financial Services & Investing）
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