Silver Standard Announces Exercise of Over-Allotment Option
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 15, 2010) – Silver Standard
Resources Inc. (TSX:SSO)(NASDAQ:SSRI) (“the Company”) reports that the
underwriters of the not long ago voiced open charity (the
“Offering”) have exercised in partial their over-allotment choice and
will squeeze an one more 846,402 usual shares at US$17.00 per share. The
option was postulated pursuant to the Offering of we estimate 5.9 million common
shares, at an charity price of US$17.00 per share, that is approaching to tighten on
February 18, 2010. The sum deduction from the practice of the over-allotment
option will sum we estimate US$14.4 million, augmenting the distance of the
Offering to we estimate US$114.4 million.
The Company intends to make make use of of the net deduction from the Offering to
fund the scrutiny on and growth of vegetable properties, for working
capital requirements, to pay off high regard superb from time to time or
for alternative ubiquitous corporate purposes.
UBS Securities Canada Inc. is behaving as lead physical education instructor and solitary book
runner of the Offering. BMO Capital Markets, CIBC World Markets, Credit Suisse,
Dahlman Rose & Company, Deutsche Bank Securities, Morgan Stanley, Scotia
Capital, Griffiths McBurney Corporation, National Bank Financial Inc. and
Salman Partners Inc. (or their particular affiliates) acted as co-managers on
the Offering.
A duplicate of the last handbill addition and the nice and
restated short form bottom shelf handbill might be performed in Canada from UBS
Securities Canada Inc. at 161 Bay Street, Suite 4100, Toronto, Ontario M5J 2S1
(416-364-2201 telephone) or in the United States from UBS Securities LLC at 299
Park Avenue, New York, NY 10171 (212-821-3000 telephone).
This headlines recover shall not consecrate an suggest to sell or the
solicitation of an suggest to buy nor shall there be any sale of these securities
in any state in that such offer, questionnaire or sale would be wrong prior
to registration or gift underneath the bonds laws of any such state.
Forward Looking Statements: Statements in this headlines release
relating to the last handbill addition and the analogous filing in the
United States, the shutting of the Offering and the expected make make use of of of proceeds
are forward-looking statements inside of the definition of the Private Securities
Litigation Reform Act of 1995 and forward-looking report inside of the
meaning of Canadian bonds laws (collectively, “forward-looking
statements”). Forward-looking statements have been statements that have been not
historical contribution and that have been theme to a accumulation of risks and uncertainties
which could means tangible events or formula to talk about materially from those
reflected in the forward-looking statements. Such risks and uncertainties
include, but have been not singular to, the need to prove the conditions set forth
in the underwriting agreement relating to the offering; the need to satisfy
regulatory and authorised mandate with apply oneself to the offering; the Company’s
ability to lift enough collateral to account development; changes in economic
conditions or monetary markets; doubt of prolongation and price estimates
for the Pirquitas Mine; the Company’s story of waste and expectancy of
future losses; changes in prices for the Company’s vegetable products or
increases in submit costs; litigation, legislative, environmental and other
judicial, regulatory, domestic and rival developments in Argentina,
Australia, Canada, Chile, Mexico, Peru, the United States and other
jurisdictions in that the Company might lift on business; technological and
operational difficulties or incapacity to acquire permits encountered in
connection with scrutiny and growth activities; work relations
matters; and becoming different unfamiliar sell rates, all of that have been described more
fully in the Company’s filings with the Securities and Exchange Commission. The
Company does not intend, and does not pretence any obligation, to refurbish any
forward-looking statements, alternative than as compulsory by germane law.
(SOURCE: Silver Standard Resources Inc.)
