Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2025business combination● NeutralMajor
SilverCrest announced the Coeur Mining arrangement is complete: Coeur indirectly acquired all SilverCrest shares, and holders were entitled to 1.6022 Coeur shares per SilverCrest share. Delisting from the TSX and NYSE American is expected within two to three business days, and SilverCrest will apply to stop being a reporting issuer in Canada. Registered holders must return a letter of transmittal with their share certificates or DRS advice to Computershare to receive the Coeur shares; non-registered holders should contact their broker. This ends the thread from the October 2024 agreement.
The Supreme Court of British Columbia granted the final order approving the Coeur Mining arrangement, so SilverCrest shareholders are set to receive 1.6022 Coeur shares per SilverCrest share. Closing was expected on or about February 14, 2025, subject to remaining approvals and conditions, followed by delisting from the TSX and NYSE American and applications to stop reporting in Canada and deregister in the US. This clears the court step that was an open item in the earlier context.
SilverCrest, Coeur and their subsidiaries signed a short amendment, dated February 5, 2025, to the plan of arrangement for the Coeur deal. It restates the 'Effective Time' as 5:00 a.m. on the closing date (unless Coeur and SilverCrest agree another time) and clarifies that actions falling on a non-business day move to the next business day (next calendar day for one specific section). The filing says the changes are administrative and not adverse to shareholders or option holders; the 1.6022 exchange ratio is not changed in the text shown.
SilverCrest mailed and filed its meeting materials for the February 6, 2025 special meeting to vote on the Coeur Mining arrangement, with the board unanimously recommending a vote FOR. Shareholders would receive 1.6022 Coeur shares per SilverCrest share, which the filing says is an implied US$11.34 per share (about US$1.7 billion total equity value, 22% above the October 3, 2024 close); SilverCrest holders would own about 37% of the combined company. Proxy cutoff is 10:00 a.m. Vancouver time on February 4, 2025.
Computershare filed an amended meeting notice with the same dates as before (record date December 19, 2024; meeting February 6, 2025). The only visible change is that option holders are now listed alongside common shareholders as voting securityholders.
Computershare, SilverCrest's agent, notified Canadian regulators of a special meeting of securityholders on February 6, 2025 in Vancouver, with a December 19, 2024 record date. This is the meeting step for the Coeur arrangement (the filing itself does not name the Coeur deal, so that link is an inference).
SilverCrest signed an arrangement agreement dated October 3, 2024 with Coeur Mining, Inc. under which Coeur would acquire all outstanding SilverCrest shares through a plan of arrangement under British Columbia law. Both boards, and SilverCrest's special committee, unanimously backed the deal; it still needs shareholder and other approvals, and the filing text provided is only the agreement's table of contents, recitals and opening definitions, so the price terms are not shown in this excerpt. Voting agreements have been signed by some shareholders of each company.
3 Dec 2019capital raising announcement● NeutralMajor
SilverCrest agreed with underwriters led by National Bank Financial, Desjardins and Scotiabank to sell 11,000,000 new common shares at C$7.28 each, for gross proceeds of C$80,080,000 (C$92,092,000 if the underwriters' 15% over-allotment option is fully used). The money is meant for continued exploration and development of the Las Chispas Project and general working capital; for shareholders this means new shares are issued, and SSR Mining has a right to keep its pro rata stake of up to 9.9% (the deadline to use it was extended to 45 days after notice). Closing was expected around December 18, 2019, subject to approvals.
What it means for a shareholder
11.0m new shares at C$7.28 to raise about C$80.1m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held C$1,000 of shares (137 at the issue price), your slice goes from 0.000162% to 0.000143% of the company. To keep it you'd need 18 more shares - about C$131 at the issue price.
