August 13, 2009 (FinancialWire) — Silver Standard Resources Inc. (NASDAQ: SSRI) has priced a public offering of 2,725,288 common shares at $17 per share, for gross proceeds of around $46 million. UBS Securities Canada (NYSE: UBS) is acting as lead manager and sole bookrunner.

The offering is scheduled to close on or about August 17. The company has also granted the underwriters a 30-day option to purchase additional common shares for additional gross proceeds of up to around $4.6 million.

Silver Standard plans to use the net proceeds to fund the development of mineral properties, for working capital requirements, to repay indebtedness outstanding from time to time or for other general corporate purposes.

Vancouver-based Silver Standard operates silver mining projects in Argentina, Peru, Mexico, Canada, Chile, the United States and Australia.

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