Take physic, pomp

Parsing the Silvercrest (SILV) placement NR

Let us check on what is similar in today’s announcement from Eric Fier and Company to the aborted March 11th bought deal with “heads I win tails you lose” NBF . And also what is different.
VANCOUVER, BC – April 13, 2020 – SilverCrest Metals
Inc. (“SilverCrest” or the “Company”) is pleased to announce a
non‑brokered private placement…
Aha! Non-brokered. Eric flips the bird to them all
…of 10,000,000 common shares of the
Company at a price of C$7.50 per share…
 The bought deal was priced at C$8.10, so Eric’s eating it a bit. SIL closed at C$7.70 on the TSX last week, for what that’s worth.
…for gross proceeds of
C$75 million (the “Private Placement”). 
 The same amount as March 11th. He likes that number.
The common shares issued under
the Private Placement will be purchased by accredited or institutional
investors. SilverCrest will pay a cash finder’s fee of 3% on certain
placements in connection…
They’d agreed to pay the bot deal brokers 5% commish, so this is better.
…with subscriptions from certain subscribers
introduced by finder’s at arm’s length to the Company.  The Company is
reserving the right to increase the Private Placement to issue a total
of up to 13,333,334 common shares at C$7.50 per share to raise a total
of up to C$100 million.
Whereas this last part is weird, Eric, if you announce a $75m non-brokered and casually mention at the bottom you’re willing to go to $100m, it’s not a $75m placement. It’s 100.
Anyway, after the well-documented falling out between SIL and NBF last month there are going to be a lot of eyeballs on this deal. The Canadian brokerages are slowly but surely going the way of the dodo, this might accelerate the process a little.

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