VANCOUVER, Aug. 11 /CNW/ - Silver Standard Resources Inc.
(TSX:SSO)(NASDAQ: SSRI) has filed a preliminary prospectus supplement to its
existing short form base shelf prospectus with the securities commissions in
each of the provinces of Canada, other than Quebec, Newfoundland and Labrador
and Prince Edward Island, and has made a similar filing with the United States
Securities and Exchange Commission in connection with a public offering of its
common shares to raise gross proceeds of approximately US$46 million (the
The company will also grant to 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. will act as lead manager and sole book runner
of the Offering.
A copy of the preliminary 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 preliminary prospectus supplement and the corresponding filing in the
United States, the proposed 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 negotiate an underwriting
agreement with the underwriters and to satisfy the conditions set forth
therein; the need to satisfy regulatory and legal requirements with respect to
the proposed 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: email@example.com, Website: