Pan American Silver closes over-allotment portion of US$150 million public offering of common shares
21 4월 2006 - 11:19PM
PR Newswire (US)
VANCOUVER, April 21 /PRNewswire-FirstCall/ -- Pan American Silver
Corp. (PAAS: NASDAQ; PAA: TSX) has closed the issuance of 531,407
common shares at a price of US$23.88 per share pursuant to the
exercise of an over-allotment option by its underwriting syndicate,
for gross proceeds of US$12,689,999 and proceeds, after deducting
underwriting fees, of US$12,182,399 (the "Over- Allotment Option").
On April 18, 2006 Pan American issued 5,750,000 common shares at a
price of US$23.88 per share, for total gross proceeds of
US$137,310,000 and net proceeds, after deducting underwriting fees,
of US$130,787,755 (the "Original Offering"). Pan American expects
to use the net proceeds of the Original Offering and the
Over-Allotment Option primarily for the construction and
development of its Manantial Espejo silver project in Argentina and
the remainder for working capital and general corporate purposes.
Bear, Stearns & Co. Inc. and BMO Nesbitt Burns Inc. acted as
joint book- running managers for the Original Offering and the
Over-Allotment Option. CIBC World Markets Inc., Merrill Lynch Inc.,
Canaccord Capital Corporation and National Bank Financial Inc.
acted as co-managers. 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 state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Pan American
Silver Corp. is one of the world's largest publicly traded primary
silver producers with mining operations and development projects in
Mexico, Peru, Argentina, Bolivia and the United States. For Further
Information Contact: Pan American Silver Corp, (604) 684-1175
DATASOURCE: Pan American Silver Corp. CONTACT: Pan American Silver
Corp, (604) 684-1175
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