Pan American Silver announces public offering of common shares
April 05 2006 - 6:32PM
PR Newswire (US)
VANCOUVER, April 5 /PRNewswire-FirstCall/ -- Pan American Silver
Corp. (PAAS: NASDAQ; PAA: TSX) announced today that it will file a
preliminary prospectus supplement to its existing US$150 million
base shelf prospectus with the securities regulatory authorities in
the provinces of Canada and will make a similar filing with the SEC
in connection with a public offering of approximately 5.75 million
common shares (the "Offering"). The Company will also grant to the
underwriters an option, exercisable for a period of 30 days
following the closing of the Offering, to purchase additional
common shares, subject to a maximum Offering size of US$150
million. The Company 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. will act as joint book-runners
for the Offering, with CIBC World Markets Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Canaccord Capital
Corporation and National Bank Financial Inc. acting as co-managers
in the underwriting syndicate. Once filed, a copy of the
preliminary prospectus supplement and the base shelf prospectus may
be obtained from:
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Bear Stearns & Co. Inc. BMO Nesbitt Burns Inc. Attn: Prospectus
Department Prospectus Department (B-2 Level) 383 Madison Avenue 1
First Canadian Place New York, NY 10179 Toronto, Ontario M5X 1H3
Tel: (866) 803-9204 Attn: Des Raposo, Dist. Centre Tel : (416)
363-6996 Ext. 224
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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. 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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