Coeur Mining Receives COFECE Approval for Acquisition of SilverCrest Metals Inc. – 8-K Filing Details

Coeur Mining, Inc. (NYSE: CDE) has recently received approval from the Mexican Federal Economic Competition Commission (COFECE) for its pending acquisition of SilverCrest Metals Inc. The approval signifies that COFECE has determined that the transaction is not expected to impede competition within the Mexican mining sector. This strategic business combination transaction, conducted under the Business Corporations Act (British Columbia), involves Coeur Mining, SilverCrest Metals, and other related entities.

In a Plenum’s session held on January 30, 2025, COFECE granted its approval for Coeur’s acquisition of SilverCrest. The completion of this acquisition is contingent upon obtaining all necessary approvals, including the satisfaction of required conditions, the approval of Coeur’s stockholders at a special meeting scheduled for February 6, 2025, as well as the approval of the Supreme Court of British Columbia. The anticipated date for closing the transaction is stated to be on or about February 14, 2025.

Supplemental Disclosures related to the transaction have also been provided by Coeur. These disclosures were filed in connection with a definitive proxy statement submitted to the U.S. Securities and Exchange Commission (SEC) on December 30, 2024. The proxy statement addresses the special meeting of Coeur’s stockholders, discussing amendments to the Coeur Certificate of Incorporation and the issuance of Coeur Common Stock to SilverCrest stockholders as part of the strategic Arrangement.

In response to complaints filed in the Supreme Court of New York, County of New York, by Ryan Carroll and Anthony Malone, alleging misrepresentations and omissions in the Definitive Proxy Statement, Coeur has also received demand letters from certain purported stockholders seeking additional disclosures. While Coeur believes these claims to be without merit, the company acknowledges the potential for future litigation and demand letters arising from the transaction.

Coeur has decided to voluntarily supplement certain disclosures in the Definitive Proxy Statement with the submitted Supplemental Disclosures to address concerns raised in the complaints and demand letters. The company maintains that the original disclosures in the Proxy Statement comply with all relevant laws and regulations and expressly denies the allegations raised in the complaints and demand letters regarding the need for additional disclosures.

This news was disclosed in a Form 8-K filing submitted by Coeur Mining, Inc., a Delaware corporation, reporting these recent developments in the pending acquisition of SilverCrest Metals Inc. Investors and stakeholders are advised to carefully review all disclosed materials for a comprehensive understanding of the ongoing transaction and related matters.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Coeur Mining’s 8K filing here.

Coeur Mining Company Profile

Coeur Mining, Inc explores for precious metals in the United States, Canada, and Mexico. The company primarily explores for gold, silver, zinc, and lead properties. It markets and sells its concentrates to third-party customers, smelters, under off-take agreements. The company was formerly known as Coeur d'Alene Mines Corporation and changed its name to Coeur Mining, Inc in May 2013.