DENVER, June 16,
2022 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM)
(TSX: SSRM) (ASX: SSR) ("SSR Mining" or the "Company") is pleased
to announce that it has filed with and received acceptance from the
Toronto Stock Exchange ("TSX") for a Notice of Intention to make a
Normal Course Issuer Bid ("NCIB") under the requirements of the TSX
permitting SSR Mining to purchase for cancellation up to 10,600,000
common shares of the Company ("Common Shares"), representing
approximately 5.0% of SSR Mining's total issued and outstanding
Common Shares. As of June 6, 2022 SSR
Mining had 212,638,432 issued and outstanding Common Shares.
Rod Antal, President and CEO
said, "Building on last year's peer leading capital returns which
exceeded US$190 million, our strong
free cash flow outlook for 2022 and balance sheet will enable us to
continue our robust capital returns program this year. We
kicked-off 2022 with a 40% increase to our quarterly dividend to
US$0.07/share, or approximately
US$60 million annually. As per our
capital allocation framework for returning excess capital to
shareholders, we plan on supplementing this quarterly dividend with
the recently approved NCIB program."
SSR Mining believes that the market price of its Common Shares
does not always reflect its underlying fundamental value and future
growth prospects. SSR Mining's purchase of its Common Shares under
the NCIB will supplement the existing base dividend and is part of
its capital allocation framework for returning excess cash to
shareholders. Under SSR Mining's previous Normal Course Issuer Bid,
which commenced on April 21, 2021 and
terminated on April 20, 2022, the Company was authorized the
purchase of up to 10,000,000 Common Shares. SSR Mining purchased
and cancelled 8,800,700 Common Shares via open market purchases
through the facilities of the TSX and the Nasdaq at a weighted
average price paid per Common Share of US$16.82 for US$148.1
million.
SSR Mining may purchase Common Shares under the NCIB over the
next twelve-month period beginning June 20, 2022 and
ending June 19, 2023. The exact
timing and amount of any purchases will depend on market conditions
and other factors. SSR Mining is not obligated to acquire any
Common Shares and may suspend or discontinue purchases under the
NCIB at any time. Any purchases made under the NCIB will be
effected through the facilities of the TSX, Nasdaq and/or
alternative Canadian and United
States trading systems. Any purchases made pursuant to the
NCIB will be made in accordance with the rules of the TSX,
applicable U.S. securities laws and will be made at market price at
the time of purchase. Under the NCIB, other than purchases made
under block purchase exemptions, the Company may purchase up to
116,057 Common Shares on the TSX during any trading day, such
number being 25% of 464,230 Common Shares, which is the average
daily trading volume on the TSX for the most recently completed six
calendar months prior to the TSX's acceptance of the notice of the
NCIB.
In connection with the NCIB, the Company has entered into an
automatic share purchase plan with a designated broker (the "ASPP")
which sets certain price thresholds for purchases of Common Shares.
The ASPP is intended to allow for the purchase of Common Shares
under the NCIB at times when it would ordinarily not be permitted
to purchase shares due to regulatory restrictions and customary
self-imposed blackout periods. The ASPP is also intended to meet
the requirements of a Rule 10b5-1 trading plan under the U.S.
Securities Exchange Act of 1934, and transactions under the ASPP,
and under the NCIB generally, will be conducted in accordance with
Rule 10b-18 under the U.S. Securities
Exchange Act of 1934.
About SSR Mining
SSR Mining Inc. is a leading, free cash flow focused gold
company with four producing assets located in the USA, Turkey,
Canada, and Argentina, combined with a global pipeline of
high-quality development and exploration assets. In 2021, the four
operating assets produced approximately 794,000 gold-equivalent
ounces. SSR Mining is listed under the ticker symbol SSRM on the
NASDAQ and the TSX, and SSR on the ASX.
SSR Mining Contacts:
F. Edward Farid, Executive Vice
President, Chief Corporate Development Officer
Alex Hunchak, Director, Corporate
Development and Investor Relations
SSR Mining Inc.
E-Mail: invest@ssrmining.com
Phone: +1 (416) 306-5789
To receive SSR Mining's news releases by e-mail, please
register using the SSR Mining website at www.ssrmining.com.
Cautionary Note Regarding Forward-Looking Information and
Statements:
Except for statements of historical fact relating to us,
certain statements contained in this news release constitute
forward-looking information, future oriented financial information,
or financial outlooks (collectively "forward-looking information")
within the meaning of applicable securities laws. Forward-looking
information may be contained in this document and our other public
filings. Forward-looking information relates to statements
concerning our outlook and anticipated events or results and, in
some cases, can be identified by terminology such as "may", "will",
"could", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "projects", "predict", "potential",
"continue" or other similar expressions concerning matters that are
not historical facts.
Forward-looking information and statements in this news
release are based on certain key expectations and assumptions made
by us. Although we believe that the expectations and assumptions on
which such forward-looking information and statements are based are
reasonable, undue reliance should not be placed on the
forward-looking information and statements because we can give no
assurance that they will prove to be correct. Forward-looking
information and statements are subject to various risks and
uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations
expressed in this news release. The key risks and uncertainties
include, but are not limited to: local and global political and
economic conditions; governmental and regulatory requirements and
actions by governmental authorities, including changes in
government policy, government ownership requirements, changes in
environmental, tax and other laws or regulations and the
interpretation thereof; the unpredictability and fluctuation in the
trading price of the Company's common shares; developments with
respect to the COVID-19 pandemic, including the duration, severity
and scope of the pandemic and potential impacts on mining
operations; and other risk factors detailed from time to time in
our reports filed with the Securities and Exchange Commission on
EDGAR and the Canadian securities regulatory authorities on
SEDAR.
Forward-looking information and statements in this news
release include any statements concerning, among other things:
future purchases of the Company's Common Shares; and any and all
other timing, exploration, development, operational, financial,
budgetary, economic, legal, social, environmental, regulatory, and
political matters that may influence or be influenced by future
events or conditions.
Such forward-looking information and statements are based on
a number of material factors and assumptions, including, but not
limited in any manner to, those disclosed in any other of our
filings on EDGAR and SEDAR. While we consider these factors and
assumptions to be reasonable based on information currently
available to us, they may prove to be incorrect.
The above list is not exhaustive of the factors that may
affect any of the Company's forward-looking information. You should
not place undue reliance on forward-looking information and
statements. Forward-looking information and statements are only
predictions based on our current expectations and our projections
about future events. Actual results may vary from such
forward-looking information for a variety of reasons including, but
not limited to, risks and uncertainties disclosed in our filings on
our website at www.ssrmining.com, on SEDAR at www.sedar.com, on
EDGAR at www.sec.gov and on the ASX at www.asx.com.au and other
unforeseen events or circumstances. Other than as required by law,
we do not intend, and undertake no obligation to update any
forward-looking information to reflect, among other things, new
information or future events. The information contained on, or that
may be accessed through, our website is not incorporated by
reference into, and is not a part of, this document.
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SOURCE SSR Mining Inc.