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SilverCrest raises C$17.3M to advance Las Chispas silver-gold project in Mexico

SilverCrest Metals Inc. completed a previously announced bought-deal offering, raising C$17.3 million including the exercise of the overallotment option in full.

The company issued 8,214,450 shares priced at C$2.10 apiece, according to a May 17 release.

The proceeds will be used to fund exploration and drilling programs at SilverCrest's Las Chispas silver-gold project in Mexico and to deliver an updated resource estimate and preliminary economic assessment. The company will also use the funds for general working capital and administrative purposes.