SSR Mining Announces Closing of Sale of San Luis Project to Highlander Silver
May 23 2024 - 7:00AM
Business Wire
SSR Mining Inc. (Nasdaq/TSX: SSRM; ASX: SSR) (“SSR Mining” or
the “Company”) is pleased to announce that it has closed the sale
of the San Luis project (the “Project”) located in Central Peru to
Highlander Silver Corp. (“Highlander Silver”) (CSE:HSLV) following
the receipt of all required regulatory approvals and satisfaction
of all closing conditions. As consideration for the sale, SSR
Mining received US$5 million in cash. SSR Mining may also receive
up to US$37.5 million in contingent payments payable in cash. The
contingent payments are expected to be received in five
installments beginning with the commencement of an initial drilling
program at the Project and ending on the second anniversary of
commercial production from the Project. A 4.0% net smelter return
(“NSR”) royalty on the Project was also issued to SSR Mining
concurrently with closing of the transaction. Under the terms of
the agreement, at any time until commencement of construction, half
of the NSR royalty can be repurchased by Highlander Silver for
US$15 million cash.
About SSR Mining
SSR Mining is listed under the ticker symbol SSRM on the Nasdaq
and the TSX, and SSR on the ASX.
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using the SSR Mining website at www.ssrmining.com.
Cautionary Note Regarding Forward-Looking Information
Except for statements of historical fact relating to us, certain
statements contained in this news release constitute
forward-looking information, future oriented financial information,
or financial outlooks (collectively “forward-looking information”)
within the meaning of applicable securities laws. Forward-looking
information may be contained in this document and our other public
filings. Forward-looking information relates to statements
concerning our outlook and anticipated events or results and, in
some cases, can be identified by terminology such as “may”, “will”,
“could”, “should”, “expect”, “plan”, “anticipate”, “believe”,
“intend”, “estimate”, “projects”, “predict”, “potential”,
“continue” or other similar expressions concerning matters that are
not historical facts.
Forward-looking information and statements in this news release
are based on certain key expectations and assumptions made by us.
Although we believe that the expectations and assumptions on which
such forward-looking information and statements are based are
reasonable, undue reliance should not be placed on the
forward-looking information and statements because we can give no
assurance that they will prove to be correct. Forward-looking
information and statements are subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this news release.
Forward-looking information and statements in this news release
include any statements concerning, among other things: forecasts
and outlook relating to the Transaction, timing and realized value
of the development of the San Luis property, including timing of
exploration, construction and production, the existence or
realization of Mineral Resource estimates, value and timing of
compensation relating to the contingent payment, value and timing
of compensation relating to the NSR royalty; potential timing of
repurchase of part of the NSR royalty; and any and all other
timing, exploration, development, operational, financial,
budgetary, economic, legal, social, environmental, regulatory, and
political matters that may influence or be influenced by future
events or conditions.
The above list is not exhaustive of the factors that may affect
any of the Company’s forward-looking information. You should not
place undue reliance on forward-looking information and statements.
Forward-looking information and statements are only predictions
based on our current expectations and our projections about future
events. Actual results may vary from such forward looking
information for a variety of reasons including, but not limited to,
risks and uncertainties disclosed in our filings on our website at
www.ssrmining.com, on SEDAR at www.sedarplus.ca, on EDGAR at
www.sec.gov and on the ASX at www.asx.com.au and other unforeseen
events or circumstances. Other than as required by law, we do not
intend, and undertake no obligation to update any forward-looking
information to reflect, among other things, new information or
future events. The information contained on, or that may be
accessed through, our website is not incorporated by reference
into, and is not a part of, this document.
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SSR Mining Inc. E-Mail: invest@ssrmining.com Phone: +1 (888)
338-0046
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