Board-Ansicht
Mix-Ansicht- SSRI Priv.Placement - spieler, 12.01.2004, 16:50
SSRI Priv.Placement
-->Silver Standard to Raise $43.7 Million in Private Placement
VANCOUVER, BRITISH COLUMBIA, Jan 12, 2004 (CCNMatthews via COMTEX) -- NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
Silver Standard Resources Inc. is pleased to report a private placement of
2,950,000 units at a price of $14.80 per unit for gross proceeds of $43,660,000.
Each unit consists of one common share and one-half of one common share purchase
warrant. Each whole warrant is exercisable on payment of $18.50 into one common
share of Silver Standard for a period of two years. A finder's fee of 5% is
payable in units on a portion of the placement, and a finder's fee of 5% cash
and 5% warrants (each whole warrant entitling the holder to acquire one common
share for a period of two years at a price of $18.50) is payable on a portion of
the placement. The completion of the private placement is subject to acceptance
of the TSX Venture Exchange.
The additional funds will be added to Silver Standard's cash of approximately
$16 million and will be used for the completion of feasibility studies at its
50%-owned Manantial Espejo project in Santa Cruz province, Argentina and at the
wholly-owned Bowdens silver project in New South Wales, Australia; toward the
company's share of anticipated capital costs at Manantial Espejo; accelerated
exploration of Silver Standard's recently announced significant new silver
discovery at La Pitarrilla project in Durango, Mexico; new silver project
acquisitions that are accretive to shareholders and for general working capital
purposes.
This news release does not constitute an offer of securities for sale in the
United States. The securities being offered have not been, and will not be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United Sates or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from U.S. registration requirements.
Silver Standard is a well-financed silver mineral exploration and development
company with silver-dominant projects in Australia, Argentina, Chile, Mexico,
the United States and Canada.
The statements that are not historical facts are forward-looking statements
involving known and unknown risks and uncertainties which could cause actual
results to vary considerably from these statements. The risks and uncertainties
include those described in Silver Standard's SEC Form 20F as amended.
CONTACT: Silver Standard Resources Inc.
Robert A. Quartermain
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