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SSO on the TSX, SSRI on the NASDAQ
Message: Announces Closing of Over-Allotment Option
| March 31, 2009 |
| Silver Standard Announces Closing of Over-Allotment Option |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) - Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) reports that the underwriters of its recent public offering (the "Offering") have completed the exercise of their over-allotment option and have purchased an additional 375,713 common shares at US$17.00 per share. The option was granted pursuant to the Offering of 5.45 million common shares, at an offering price of US$17.00 per share, which closed on February 27, 2009. The gross proceeds from the exercise of the over-allotment option were approximately US$6.4 million. The company intends to use the net proceeds from the over-allotment option for the development of mineral properties, working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes. UBS Securities Canada Inc. acted as lead manager of the Offering. Deutsche Bank Securities Inc.; Credit Suisse Securities (USA) LLC; Dahlman Rose & Co., LLC; Morgan Stanley & Co. Incorporated; Scotia Capital Inc.; Blackmont Capital Inc.; GMP Securities L.P.; National Bank Financial Inc.; and Salman Partners Inc. acted as co-managers of the Offering. A copy of the final prospectus supplement and the short form base shelf prospectus may be obtained in Canada from UBS Securities Canada Inc. at 161 Bay Street, Suite 4100, Toronto, Ontario M5J 2S1 (416-364-2201 telephone) or in the United States from UBS Securities LLC at 299 Park Avenue, New York, NY 10171 (212-821-3000 telephone). |
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