Silver Standard announces pricing of public offering of common shares

    VANCOUVER, Aug. 12 /CNW/ - Silver Standard Resources Inc.
(TSX:SSO)(NASDAQ:  SSRI) has priced its previously announced public offering of
common shares (the "Offering"). Pursuant to the Offering, the company will
issue 2,725,288 common shares at a price of US$17.00 per share, for aggregate
gross proceeds of approximately US$46 million. The company will file a final
prospectus supplement to its existing short form base shelf prospectus with
the securities commissions in each of the provinces of Canada, other than
Quebec, and will make a similar filing with the United States Securities and
Exchange Commission. Closing of the Offering is expected to occur on or about
August 17, 2009.
    The company has also granted the underwriters of the Offering an option,
exercisable for a period of 30 days following the closing of the Offering, to
purchase additional common shares for additional gross proceeds of up to
approximately US$4.6 million.
    The company intends to use the net proceeds from the Offering to fund the
development of mineral properties, for working capital requirements, to repay
indebtedness outstanding from time to time or for other general corporate
    UBS Securities Canada Inc. is acting as lead manager and sole book runner
of the Offering.
    A copy of the final prospectus supplement and the short form base shelf
prospectus may be obtained 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 news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.

    Forward Looking Statements: Statements in this news release relating to
the final prospectus supplement and the corresponding filing in the United
States, the closing of the offering and the anticipated use of proceeds are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and forward-looking information within the
meaning of Canadian securities laws (collectively, "forward-looking
statements"). Forward-looking statements are statements that are not
historical facts and that are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those
reflected in the forward-looking statements. Such risks and uncertainties
include, but are not limited to, the need to satisfy the conditions set forth
in the underwriting agreement relating to the offering, the need to satisfy
regulatory and legal requirements with respect to the offering; the company's
ability to raise sufficient capital to fund development; changes in economic
conditions or financial markets; changes in prices for the company's mineral
products or increases in input costs; litigation, legislative, environmental
and other judicial, regulatory, political and competitive developments in
Argentina, Australia, Canada, Chile, Mexico, Peru, the United States and other
jurisdictions in which the company may carry on business; technological and
operational difficulties or inability to obtain permits encountered in
connection with exploration and development activities; labour relations
matters; and changing foreign exchange rates, all of which are described more
fully in the company's filings with the Securities and Exchange Commission.
The company does not intend, and does not assume any obligation, to update any
forward-looking statements, other than as required by applicable law.

For further information:

For further information: Silver Standard Resources Inc., Robert A.
Quartermain, President & CEO, (604) 689-3846; Silver Standard Resources Inc.,
Paul LaFontaine, Director, Investor Relations, N.A. Toll Free: 1-888-338-0046
or Direct: (604) 484-8212, Email:, Website:

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890