On October 4, 2024, SilverCrest Metals Inc. and Coeur Mining, Inc. announced that they have entered into a definitive agreement whereby, a wholly-owned subsidiary of Coeur will acquire all of the issued and outstanding shares of SilverCrest pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia).
Under the terms of the transaction, SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest common share, which implies consideration of US$11.34 per SilverCrest common share and a total equity value of approximately US$1.7 billion based on SilverCrest’s common shares outstanding. Upon completion of the transaction, existing Coeur stockholders and SilverCrest shareholders will own approximately 63% and 37% of the outstanding common stock of the combined company, respectively.
Cassels is acting for SilverCrest.