SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Silver Standard Resources Inc. NSC: SSRI CVE: SSO

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Richard Mazzarella who started this subject5/11/2002 4:22:03 AM
From: Henrik  Read Replies (1) of 165
 
Silver Standard CLOSEs $16.8 MILLION Private Placement

May 10, 2002 News Release 02-09
Trading Symbols:
Nasdaq SmallCap: SSRI
TSX Venture: SSO
Berlin: 858840

Silver Standard CLOSEs $16.8 MILLION Private Placement

Vancouver, B.C. -- Silver Standard Resources Inc. is pleased to report today the closing of a C$16,800,000 private placement of 4,200,000 units at a price of C$4.00 per unit. Each unit consists of one common share
and one common share purchase warrant. Each warrant is exercisable on payment of C$4.80 into one common share of Silver Standard for two years from the date of closing.

The common shares and any shares issued on payment of finder's fees or exercise of warrants are subject to a four-month hold period that expires at midnight, September 10, 2002.

Silver Standard now has over C$22 million (C$0.60 per share) in working capital. Near-term uses of proceeds include drilling expected to commence shortly at Challacollo in Chile and San Marcial in Mexico,
with further drilling planned in the fall at Bowdens in Australia and Manantial Espejo in Argentina. In addition, the company will continue to acquire silver-dominant projects to increase shareholder leverage to silver.

Silver Standard is a well-financed and significant silver resource company with core projects located in Argentina, Chile, Australia, United States and Mexico.

- 30 -

For further information, contact:

Robert A. Quartermain, President
Silver Standard Resources Inc.
Vancouver, B.C.
(604) 689-3846

or

Paul LaFontaine, Director, Investor Relations
N.A. toll-free: (888) 338-0046
Direct: (604) 484-8212
E-Mail: invest@silverstandard.com <mailto:invest@silver-standard.com>
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext