September 11, 2017 / 10:45 AM / 2 years ago

BRIEF-Coeur announces acquisition of the Silvertip mine in British Columbia

Sept 11 (Reuters) - Coeur Mining Inc

* Coeur announces acquisition of the Silvertip mine in British Columbia

* Will pay initial consideration of US$200 million​

* Silvertip acquisition is expected to be accretive to Coeur’s stockholders on all key operational and financial metrics​

* Deal consisting of US$146.5 million of cash, US$38.5 million of Coeur shares and will assume US$15 million in existing debt​

* Additional potential payments up to $50 million contingent upon achieving specific future permitting and exploration milestones at Silvertip​

* Upon expected completion of deal, co intends to invest $25 - $35 million in surface infrastructure, accelerated underground development​

* Intends to use portion of existing cash and equivalents to fund cash portion of initial consideration​

* To further boost financial flexibility, co to establish a new, $200 million secured revolving credit facility prior to closing of deal Source text for Eikon: Further company coverage:

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