SilverCrest Mines Increases Bought Deal to $30 Million

SilverCrest Mines Inc. (TSXV:SVL) announced an amended purchase agreement with a syndicate of underwriters led by Dundee Securities Ltd., and including Canaccord Genuity Corp. for 11,765,000 of its common shares at a price of $2.55 per Common Share for gross proceeds of $30,000,750 on a bought deal basis.

As quoted in the press release:

The Company has also granted the Underwriters an over-allotment option to increase the size of the Amended Offering by up to an additional 15%, such option being exercisable in whole or in part at any time prior to 30 days after the closing of the Amended Offering.

The net proceeds from the Amended Offering will be used to eliminate the remainder of the Company’s gold hedge commitments and for general corporate purposes including working capital.

Click here to view the full press release.