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SSR Mining Announces the Sale of Pitarrilla Project for Total Consideration of up to US$127m

14 Jan 2022  |  08:23:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: SALE OF ITS PITARRILLA PROJECT FOR UP TO US$127 MILLION

SSR Mining announced that it has entered into a definitive agreement to sell its Pitarrilla project in Durango, Mexico to Endeavour Silver for total consideration of up to US$127m (the Transaction). Total consideration consists of US$35m in cash, US$35m in Endeavour Silver shares (with the number of shares to be issued based on the 10-day volume weighted average trading price preceding the date of the share purchase agreement), and a 1.25% net smelter return royalty on the Pitarrilla property currently estimated by SSR Mining to be valued at up to US$57m.

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