Key Developments For Silver Standard Resources Inc
Silver Standard Resources Inc (SSRI.O) (Consolidated Issue listed on NASDAQ Global Market)
Silver Standard Resources Inc. Announces Sale Of Canadian ABCP Notes
Silver Standard Resources Inc. announced the sale of its MAV II Class A-1 and A-2 Notes received following the restructuring of the Canadian asset-backed commercial paper market for cash proceeds of CDN$21.2 million. The carrying value of Silver Standard's MAV II Class A-1, A-2, B, C and IA Tracking Notes as at September 30, 2009, was approximately USD24.9 million. The Company continues to hold the MAV II Class B, C and IA Tracking Notes. The cash proceeds of CDN$21.2 million have been added to the Company's working capital.
Silver Standard Resources Inc. Announces Closing of Public Offering of Common Shares
Silver Standard Resources Inc. announced the closing of its previously announced public offering of common shares and exercise of the overallotment option (Offering). Pursuant to the Offering, the Company issued 2,997,816 common shares at a price of $17.00 per share, for aggregate net proceeds of approximately $48.3 million after underwriting commissions. The Company intends to use the net proceeds from the Offering to fund the development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. UBS Securities Canada Inc. acted as lead manager and sole book runner of the Offering.
Silver Standard Resources Inc. Announces Exercise of Over-Allotment Option
Silver Standard Resources Inc. announced that the underwriters of its recently announced public offering have exercised in full their over-allotment option and will purchase an additional 272,528 common shares at USD17.00 per share. The option was granted pursuant to the Offering of approximately 2.7 million common shares, at an offering price of USD17.00 per share, which is expected to close on August 17, 2009. The gross proceeds from the exercise of the over-allotment option will total approximately USD4.6 million. The Company intends to use the net proceeds from the Offering to fund the development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. UBS Securities Canada Inc. is acting as lead manager and sole book runner of the Offering.
Silver Standard Resources Inc. Announces Pricing Of Public Offering Of Common Shares
Silver Standard Resources Inc. announced that it has priced its previously announced public offering of common shares (Offering). Pursuant to the Offering, the Company will issue 2,725,288 common shares at a price of $17.00 per share, for aggregate gross proceeds of approximately $46 million. Closing of the Offering is expected to occur on or about August 17, 2009. The Company has also granted the underwriters of the Offering an option, exercisable for a period of 30 days following the closing of the Offering, to purchase additional common shares for additional gross proceeds of up to approximately $4.6 million. The Company intends to use the net proceeds from the Offering to fund the development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. UBS Securities Canada Inc. is acting as lead manager and sole book runner of the Offering.
Silver Standard Resources Inc. Announces Public Offering Of Common Shares
Silver Standard Resources Inc. announced that it has filed a preliminary prospectus supplement to its existing short form base shelf prospectus with the securities commissions in each of the provinces of Canada, other than Quebec, Newfoundland and Labrador and Prince Edward Island, and has made a similar filing with the United States Securities and Exchange Commission in connection with a public offering of its common shares to raise gross proceeds of approximately USD46 million (the Offering). The company intends to use the net proceeds from the Offering to fund the development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. UBS Securities Canada Inc. will act as lead manager and sole book runner of the Offering.
