UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of March, 2020.
Commission File Number 001-38628
|
SilverCrest Metals Inc. |
|
(Translation of registrant's name into English) |
|
570 Granville Street, Suite 501 Vancouver, British Columbia V6C 3P1 Canada |
|
(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F
|
Form 20-F |
☐ |
Form 40-F |
☒ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
|
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
|
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
SILVERCREST METALS INC. |
|
Date: March 18, 2020 |
/s/ Anne Yong______________ Anne Yong Chief Financial Officer |
INDEX TO EXHIBITS
-1-
Form 51-102F3
Material Change Report
Item 1. Name and Address of Company
SilverCrest Metals Inc. (the "Company" or "SilverCrest")
Suite 501, 570 Granville Street
Vancouver, British Columbia
V6C 3P1 Canada
Item 2. Date of Material Change
March 17, 2020
Item 3. News Release
News Release dated March 18, 2020 was disseminated through Newswire.
Item 4. Summary of Material Change
The Company received notice from National Bank Financial Inc. purporting to terminate its obligations pursuant to an agreement dated March 11, 2020 whereby National Bank Financial Inc. had asked for and agreed to purchase on a "bought deal" basis 9,100,000 common shares at price of $8.25 per common share.
Item 5.1 Full Description of Material Change
The Company received notice from National Bank Financial Inc. ("NBF") purporting to terminate its obligations pursuant to an agreement dated March 11, 2020 (the "Agreement") whereby NBF had asked for and agreed to purchase on a "bought deal" basis 9,100,000 common shares at price of $8.25 per common share. The "bought deal" financing was announced by SilverCrest on March 11, 2020. NBF advised SilverCrest that the reason for the purported termination was based on the "disaster out" clause of the Agreement.
The Agreement between SilverCrest and NBF created a binding legal obligation on the part of NBF to complete the transaction as is customary in Canada for "bought deal" financings. SilverCrest is of the view that NBF is not entitled to terminate the Agreement. In SilverCrest's opinion, the novel coronavirus pandemic considered by NBF as the basis for terminating this Agreement was fully evident when the "bought deal" financing was agreed upon with expectations that the precious metals market would respond positively to this known risk. Accordingly, SilverCrest intends to pursue its legal remedies against NBF for breach of NBF's obligations under the terms of the Agreement.
Item 5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7. Omitted Information
Not applicable.
Item 8. Executive Officer
Anne Yong, Chief Financial Officer
Telephone: (604) 694-1730
Item 9. Date of Report
March 18, 2020