VANCOUVER - December 7, 2016 (Investorideas.com Newswire) Donald Smith Value Fund, L.P. (the "Fund") reports that it has acquired beneficial ownership of 900,000 common shares and 450,000 common share purchase warrants of SilverCrest Metals Inc. (TSXV: $SIL.V) ("SilverCrest") through a prospectus offering on December 6, 2016 of 4,550,000 units of SilverCrest at Cdn. $2.20 per unit, each unit consisting of one common share and one‑half of a warrant of SilverCrest for total consideration paid of Cdn. $1,980,000.
The Fund currently has deemed beneficial ownership of 5,850,000 common shares (including 1,950,000 common shares issuable upon exercise of warrants), representing 11.93% of the deemed outstanding common shares.
The Fund has acquired the common shares and warrants through the prospectus offering for investment purposes. The Fund may acquire additional common shares and warrants or dispose of common shares and warrants (through market or private transactions or exercises of the warrants) from time to time.
A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Ann Hogan at Donald Smith Value Fund, L.P. at (212) 284‑0990.
Donald Smith Value Fund, L.P.
Donald Smith, Managing Member
SOURCE SilverCrest Metals Inc.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward looking statements concern the net proceeds from the Offering and the intended use of proceeds. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward looking statements as a result of the risk factors including: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
SilverCrest Metals Inc.
Fred Cooper, Investor Relations
+1 (604) 694-1730
+1 (604) 694-1761
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