Pan American Silver closes US$137 million public offering of common shares
April 18 2006 - 9:12AM
PR Newswire (US)
VANCOUVER, April 18 /PRNewswire-FirstCall/ -- Pan American Silver
Corp. (PAAS: NASDAQ; PAA: TSX) announced today that it has closed
its previously announced public offering of common shares (the
"Offering"). Pursuant to the Offering, Pan American issued
5,750,000 common shares at a price of US$23.88 per share, for
aggregate proceeds of US$137,310,000. Pan American expects to use
the net proceeds of this Offering 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 Offering, and CIBC
World Markets Inc., Merrill Lynch Inc., Canaccord Capital
Corporation and National Bank Financial Inc. acted as co-managers
of the Offering. Pan American has granted the underwriters an
option, exercisable for a period of 30 days following the closing
of the Offering, to purchase up to an additional 531,407 common
shares, at a price of US$23.88 per share. 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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