VANCOUVER, Jan. 8, 2019 /CNW/ - Pan American Silver
Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American") is pleased
to announce that at its special meeting of shareholders held
earlier today, shareholders overwhelmingly approved the
resolution to increase the maximum number of authorized shares of
Pan American (the "Authorized Capital Resolution") and the
resolution to issue up to 72,533,152 Pan American shares (the
"Share Issuance Resolution") in connection with the proposed plan
of arrangement (the "Arrangement") pursuant to which Pan American
will acquire all of the issued and outstanding shares of Tahoe
Resources Inc. ("Tahoe").
Detailed results of the votes cast were as follows:
Resolution
|
Votes
For
|
%
For
|
Votes
Against
|
%
Against
|
Authorized Capital
Resolution
|
83,233,358
|
98.44%
|
1,318,149
|
1.56%
|
Share Issuance
Resolution
|
83,602,370
|
98.88%
|
949,140
|
1.12%
|
In addition to the approval by Pan American shareholders, Tahoe
shareholders approved the Arrangement at the special meeting of
Tahoe shareholders held today. The Arrangement is subject to
approval by the Supreme Court of British
Columbia and satisfaction of certain other customary closing
conditions. The Arrangement is expected to be completed on or about
February 26, 2019, following
authorization from the Mexican Federal Economic Competition
Commission.
Further information on the Arrangement is available on Pan
American's website at:
www.panamericansilver.com/investors/tahoe-transaction.
"We are very pleased to see strong shareholder support for our
acquisition of Tahoe," said Michael
Steinmann, President and Chief Executive Officer of Pan
American. "This is a logical combination that provides investors
with exposure to a geographically diversified portfolio of some of
the world's best silver mining assets."
About Pan American Silver
Pan American is the world's
second largest primary silver producer, providing enhanced exposure
to silver through a diversified portfolio of assets, large reserves
and growing production. We own and operate six mines in
Mexico, Peru, Argentina and Bolivia. Pan American maintains a strong
balance sheet, has an established management team with proven
operating expertise, and is committed to responsible development.
Founded in 1994, Pan American is headquartered in Vancouver, B.C. and our shares trade on NASDAQ
and the Toronto Stock Exchange under the symbol "PAAS".
For more information, visit: www.panamericansilver.com.
Cautionary Note Regarding Forward-Looking Statements and
Information
Certain of the statements and information in
this news release constitute "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 provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to the
anticipated completion date of the Arrangement and the potential
exposure to the combined company's diversification in mining
assets.
These forward-looking statements and information reflect Pan
American's current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by Pan American, are inherently subject to
significant operational, business, economic and regulatory
uncertainties and contingencies. Pan American cautions the reader
that forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release and Pan American has
made assumptions and estimates based on or related to many of these
factors. Among the key factors that could cause actual results to
differ materially from those projected in the forward-looking
information are the following: the timing of and ability to
consummate the Arrangement; the ability to obtain requisite
regulatory approvals and the satisfaction of other conditions to
the consummation of the Arrangement on the proposed terms and
schedule; changes in general economic, business and political
conditions, including changes in the financial markets; and changes
in applicable laws.
Certain of these factors are identified under the heading "Risk
Factors" in the Circular, and under the caption "Risks Related to
Pan American's Business" in Pan American's most recent form 40-F
and Annual Information Form filed with the United States Securities
and Exchange Commission and Canadian provincial securities
regulatory authorities, respectively. Although Pan American has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. Forward-looking statements and
information are designed to help readers understand management's
current views of our near and longer term prospects and may not be
appropriate for other purposes. Pan American does not intend, nor
does it assume any obligation to update or revise forward-looking
statements or information, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the
extent required by applicable law.
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SOURCE Pan American Silver Corp.