Silver Wheaton Completes US$287.5 Million Financing
September 30 2009 - 10:52AM
PR Newswire (US)
VANCOUVER, September 30 /PRNewswire-FirstCall/ -- Silver Wheaton
Corp. ("Silver Wheaton" or the "Company") (TSX, NYSE:SLW) is
pleased to confirm that it has closed its previously announced
bought deal equity financing, including the full amount of the
underwriters' over- allotment option, for aggregate gross proceeds
to Silver Wheaton of US$287.5 million. A syndicate of underwriters,
led by Genuity Capital Markets and GMP Securities L.P., and
including BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord
Capital Corporation, UBS Securities Canada Inc., Blackmont Capital
Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets
Canada Ltd., Merrill Lynch Canada Inc., Raymond James Ltd., RBC
Dominion Securities Inc., Salman Partners Inc. and CIBC World
Markets Inc., purchased an aggregate of 25,903,750 common shares of
Silver Wheaton at a price of US$11.10 per share. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
state in which such offer, solicitation or sale would be unlawful.
The securities have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements. ABOUT SILVER WHEATON Silver
Wheaton is the largest silver streaming company in the world.
Including the Barrick transaction, forecast 2009 sales are 16 to 18
million ounces of silver and 17,000 ounces of gold, for total sales
of 17 to 19 million silver equivalent ounces, growing to
approximately 39 million ounces of silver and 20,000 ounces of
gold, for total sales of approximately 40 million silver equivalent
ounces, by 2013. CAUTIONARY NOTE REGARDING FORWARD
LOOKING-STATEMENTS The information contained herein contains
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the future price of silver, the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, the
timing and amount of estimated future production, costs of
production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Silver Wheaton to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: fluctuations in the price of silver, the absence of
control over mining operations from which Silver Wheaton purchases
silver and risks related to these mining operations, including
risks related to fluctuations in the price of the primary
commodities mined at such operations, changes in laws and
regulations including taxation policies, actual results of mining
and exploration activities, changes in project parameters as plans
continue to be refined, as well as those factors discussed in the
section entitled "Description of the Business - Risk Factors" in
Silver Wheaton's Annual Information Form available on SEDAR at
http://www.sedar.com/ and in Silver Wheaton's Form 40-F on file
with the U.S. Securities and Exchange Commission in Washington,
D.C. Forward-looking statements are based on assumptions management
believes to be reasonable, including but not limited to: the
continued operation of the mining operations from which Silver
Wheaton purchases silver, no material adverse change in the market
price of commodities, that the mining operations will operate and
the mining projects will be completed in accordance with their
public statements and achieve their stated production outcomes, and
such other assumptions and factors as may be set out herein.
Although Silver Wheaton has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Silver Wheaton does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws. For
further information: Brad Kopp, Director, Investor Relations,
Silver Wheaton Corp., Tel: +1-800-380-8687, Email: , Website:
http://www.silverwheaton.com/ DATASOURCE: Silver Wheaton Corp.
CONTACT: For further information: Brad Kopp, Director, Investor
Relations, Silver Wheaton Corp., Tel: +1-800-380-8687, Email:
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