Under the terms of the definitive agreement, Silver Standard will sell its interest in Challacollo for aggregate consideration of:
Silver Standard will also have a 2.0% NSR royalty on silver sales in
excess of 36 million ounces, up to a maximum of
Completion of the transaction is subject to customary closing conditions, including TSX approval. Silver Standard expects the transaction to close in the first quarter of 2014.
"This transaction adds to our already robust balance sheet and positions
us well heading into 2014," said
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Cautionary Note Regarding Forward-Looking Statements:
Statements in this news release are forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and forward-looking information within the meaning of Canadian
securities laws (collectively, "forward-looking statements"). All
statements, other than statements of historical fact, are
forward-looking statements. Generally, forward-looking statements can
be identified by the use of words or phrases such as "expects,"
"anticipates," "plans," "projects," "estimates," "assumes," "intends,"
"strategy," "goals," "objectives," "potential" or variations thereof,
or stating that certain actions, events or results "may," "could,"
"would," "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms or similar expressions. These
forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual
events or results to differ from those expressed or implied, including
the closing of the proposed transaction, commencement of commercial
production and those various risks and uncertainties identified under
the heading "Risk Factors" in our most recent Form 40-F and Annual
Information Form filed with the
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