Form 6-K SILVER STANDARD RESOURCE For: Jan 28
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E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For January 28, 2015
Commission File Number: 000-26424
SILVER STANDARD RESOURCES INC.
(Translation of registrant's name into English)
#800 - 1055 Dunsmuir Street
PO Box 49088, Bentall Postal Station
Vancouver, British Columbia
Canada V7X 1G4
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
[ ] Form 20-F�� [x] Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [�������]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [�����������]
INCORPORATION BY REFERENCE
This Form 6-K is hereby incorporated by reference into the registration statements on Form S-8 (File No. 333-185498, 333-196116 and 333-198092) of Silver Standard Resources Inc.
DOCUMENTS FILED AS PART OF THIS FORM 6-K
See the Exhibit Index hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Silver Standard Resources Inc. | ||
(Registrant) | ||
Date: January 28, 2015 | By: | Signed: "Gregory Martin" |
Gregory Martin | ||
Title: | Chief Financial Officer | |
SUBMITTED HEREWITH
Form 51-102F3
Material Change Report
Item 1 | Name and Address of Company Silver Standard Resources Inc.� Suite 800 1055 Dunsmuir Street PO Box 49088 Vancouver, British Columbia V7X 1G4 |
Item 2 | Date of Material Change January 27, 2015 |
Item 3 | News Release The news release dated January 27, 2015 was disseminated through Marketwires combined Canadian and US Investment Network and filed on the System for Electronic Document Analysis and Retrieval (SEDAR) and with the U.S. Securities and Exchange Commission on EDGAR. |
Item 4 | Summary of Material Change Silver Standard Resources Inc. ( Silver Standard or the Company ) announced in a news release dated January 27, 2015 that it received a Notice of Reassessment in the aggregate amount of approximately $41.4 million from the Canada Revenue Agency ( CRA ) related to the tax treatment of the 2010 sale of shares of its subsidiary that owned and operated the Snowfield and Brucejack projects. |
Item 5 | Full Description of Material Change |
Silver Standard announced on January 27, 2015 that it received a Notice of Reassessment in the aggregate amount of approximately $41.4 million from the CRA related to the tax treatment of the 2010 sale of shares of its subsidiary that owned and operated the Snowfield and Brucejack projects. The CRA has asserted the transaction was of an income nature and not of a capital nature as recorded by the Company. Silver Standard strongly disagrees with the CRAs reassessment and will vigorously defend its position including filing a Notice of Objection and, if necessary, a Notice of Appeal to the Tax Court of Canada. In order to object to the reassessment, the Company is required to make a deposit of 50% of the reassessed amount plus interest accrued to the date of the Notice of Reassessment. As of December 31, 2014, the Company had an unaudited cash and cash equivalents balance of approximately $185 million. The Company cannot determine how long the appeal and court processes will take at this time. If Silver Standard is successful in defending its position, deposits made plus applicable interest will be refunded. 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 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 U.S. Securities and Exchange Commission and Canadian securities regulatory authorities. Our forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements. | |
Item 6 | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 Not applicable. |
Item 7 | Omitted Information Not applicable. |
Item 8 | Executive Officer Kelly Stark Anderson Vice President, Legal and Corporate Secretary +1 (604) 484-8217 |
Item 9 | Date of Report Dated at Vancouver, British Columbia, this 28th day of January, 2015. |
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