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#Mining News: #SilverCrest (TSXV: $SIL.V) Over‑Allotment Option Exercised in Full

ID Global Solutions Corporation (OTCBB:IDGS)

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

 

VANCOUVER - December 14, 2016 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV: $SIL.V) is pleased to announce that, in connection with its completed offering of 4,550,000 units of the Company ("Units") at a price of C$2.20 per Unit (the "Issue Price") for gross proceeds of C$10,010,000 on December 6, 2016, the over-allotment option granted to National Bank Financial Inc., PI Financial Corp. and Canaccord Genuity Corp., as underwriters, to purchase up to an additional 682,500 Units (the "Over-Allotment Option") at the Issue Price was exercised in full for additional aggregate gross proceeds of C$1,501,500 .

The sale of the additional Units today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to SilverCrest (including the Over-Allotment Option) to C$11,511,500.

Each Unit consists of one common share of SilverCrest (a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of SilverCrest at an exercise price of C$3.00 until December 6, 2018. The Warrants were posted for trading on the TSX Venture Exchange on December 9, 2016 under the trading symbol "SIL.WT".

ABOUT SILVERCREST METALS INC.

SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC , that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible "phased approach" business model taking projects through discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.

N. Eric Fier, CPG, P.Eng
CEO and President
SilverCrest Metals Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: SilverCrest Metals Inc.

FORWARD-LOOKING STATEMENTS

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.

Contact:

SilverCrest Metals Inc.
Fred Cooper, Investor Relations
+1 (604) 694-1730
+1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
info@silvercrestmetals.com
www.silvercrestmetals.com

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Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.




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