The gross proceeds from this exercise of the over-allotment option total approximately
The Company expects to use the net proceeds from the Offering and the exercise of the over-allotment option to fund acquisitions, development programs on acquired mineral properties, working capital requirements and for other general corporate purposes.
Goldman Sachs Canada Inc. and CIBC World Markets Inc. are acting as co-lead managers and joint book runners of the Offering and UBS Securities Canada Inc., Merrill Lynch Canada Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Raymond James Ltd., Salman Partners Inc. and Canaccord Capital Corporation, are acting as co-managers of the Offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy common shares nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Pan American Silver
Pan American Silver's mission is to be the world's largest and lowest cost primary silver mining company by increasing its low cost silver production and silver reserves. The Company has eight operating mines in
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information include, but are not limited to, statements as to the prospects of the offering's completion and the use of proceeds from such offering. the Company does not intend, and does not assume any obligation to, update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Pan American and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Peruvian sole, Mexican peso Argentine peso and Bolivian Boliviano versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in
SOURCE Pan American Silver Corp.