TIDMWPM
RNS Number : 5129Y
Wheaton Precious Metals Corp.
13 May 2021
May 12, 2021 TSX | NYSE | LSE:WPM
Vancouver, British Columbia
WHEATON precious metals announces UPDATE IN RESPECT OF ITS
at-the-Market equity program
Wheaton Precious Metals Corp. ("Wheaton" or "the Company")
announced today that the Company has filed a new prospectus
supplement in connection with its existing at-the-market equity
program ("ATM Program") that allows the Company to issue up to
US$300 million (or the equivalent in Canadian dollars determined
using the daily exchange rate posted by the Bank of Canada on the
date of sale) of common shares ("Common Shares") from treasury to
the public from time to time, at the Company's discretion and
subject to regulatory requirements. Any Common Shares sold in the
ATM Program will be sold (i) in ordinary brokers' transactions on
the NYSE or another US marketplace on which the Common Shares are
listed, quoted or otherwise trade, (ii) in ordinary brokers'
transactions on the TSX, (iii) on another Canadian marketplace on
which the Common Shares are listed, quoted or otherwise trade, or
(iv) with respect to sales in the United States, at the prevailing
market price, a price related to the prevailing market price or at
negotiated prices. Since the Common Shares will be distributed at
the prevailing market prices at the time of the sale or certain
other prices, prices may vary among purchasers and during the
period of distribution.
Wheaton intends to use the net proceeds from the ATM Program, if
any, for funding precious metals purchase agreements ("PMPAs")
and/or other general corporate purposes, including the repayment of
indebtedness. To date, no Common Shares have been issued through
the ATM program.
Sales of Common Shares through the ATM Program will be made
pursuant to the terms of an ATM equity offering sales agreement
dated April 16, 2020, as amended on May 12, 2021 (the "Sales
Agreement"), entered into among the Company, BofA Merrill Lynch,
BMO Capital Markets, RBC Dominion Securities Inc., Scotiabank, CIBC
Capital Markets, TD Securities, National Bank Financial Markets,
Eight Capital, Raymond James Ltd. and Canaccord Genuity (the
"Canadian Agents") and BofA Securities, BMO Capital Markets, RBC
Capital Markets, LLC, Scotiabank, MUFG and Mizuho Securities (the
"U.S. Agents" and, together with the Canadian Agents, the
"Agents"). The ATM Program will be effective until the date that
all Common Shares available for issue under the ATM Program have
been issued or the ATM Program is terminated prior to such date by
the Company or the Agents.
The ATM Program is being conducted pursuant to a prospectus
supplement dated May 12, 2021 (the "Canadian Prospectus
Supplement") to the Company's Canadian base shelf prospectus dated
April 22, 2021 (the "Canadian Shelf Prospectus") filed with the
securities commissions in each of the provinces and territories of
Canada and pursuant to a prospectus supplement dated May 12, 2021
(the "U.S. Prospectus Supplement") to the Company's U.S. base
prospectus dated April 22, 2021 (the "U.S. Base Prospectus")
included in its registration statement on Form F-10 (the
"Registration Statement") and filed with the U.S. Securities and
Exchange Commission (the "SEC"). The Canadian Prospectus
Supplement, the Canadian Shelf Prospectus and the Sales Agreement
(including the amending agreement) may be downloaded from SEDAR at
www.sedar.com , and the U.S. Prospectus Supplement, the U.S. Base
Prospectus and the Registration Statement are accessible via EDGAR
on the SEC website at www.sec.gov . Alternatively, any of the
following agents participating in the ATM Program will arrange to
send you these documents if you request it by contacting, in
Canada:
BofA Merrill Lynch by mail at 181 Bay Street, Suite 400,
Toronto, Ontario M5J 2V8 Canada, by email at
Dg.can_dcm@bankofamerica.com or by telephone at 416-369-7400.
BMO Capital Markets by mail at Brampton Distribution Centre,
9195 Torbram Road, Brampton, Ontario, L6S 6H2, attn: The Data Group
of Companies, by email at torbramwarehouse@datagroup.ca or by
telephone at 905-791-3151 ext. 4312.
RBC Dominion Securities Inc. by mail at 180 Wellington Street
West, 8(th) Floor, Toronto, ON M5J 0C2, attn:
Distribution Centre, by email at Distribution.RBCDS@rbccm.com or by telephone at 416-842-5349.
Scotiabank by mail at Scotia Plaza, 62nd Floor, 40 King Street
West, Toronto, Ontario M5H 3Y2, attn: Equity Capital Markets, by
email at equityprospectus@scotiabank.com or by telephone at
416-863-7704.
or in the United States:
BofA Securities by mail at 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, attn: Prospectus Department or by email at
dg.prospectus_requests@bofa.com .
BMO Capital Markets by mail at 3 Times Square, 25th Floor, New
York, NY 10036, attn: Equity Syndicate, by email at
bmoprospectus@bmo.com , or by telephone at 800-414-3627.
RBC Capital Markets, LLC by mail at 200 Vesey Street, 8th Floor,
New York, NY 10281-8098, attn: Equity Syndicate,
by email at equityprospectus@rbccm.com or by telephone at 877-822-4089.
Scotiabank by mail at 250 Vesey Street, 24th Floor, New York,
New York, 10281, attn: Equity Capital Markets, by email at
equityprospectus@scotiabank.com or by telephone at
212-225-6853.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the Common Shares, nor shall there
be any sale of the Common Shares in any jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Wheaton Precious Metals Corp.
Wheaton is the world's premier precious metals streaming company
with the highest-quality portfolio of long-life, low-cost assets.
Its business model offers investors commodity price leverage and
exploration upside but with a much lower risk profile than a
traditional mining company. Wheaton delivers amongst the highest
cash operating margins in the mining industry, allowing it to pay a
competitive dividend and continue to grow through accretive
acquisitions. As a result, Wheaton has consistently outperformed
gold and silver, as well as other mining investments. Wheaton
creates sustainable value through streaming.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "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 securities legislation concerning
the offer and sale of Common Shares under the ATM Program,
including the timing and amounts thereof, and the use of any
proceeds from the ATM Program. These 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 Wheaton to be materially different from those
expressed or implied by such forward-looking statements including
but not limited to the risks discussed in the section entitled
"Description of the Business - Risk Factors" in Wheaton's Annual
Information Form available on SEDAR at www.sedar.com , and in
Wheaton's Form 40-F for the year ended December 31, 2020 filed on
the SEC's EDGAR system available at www.sec.gov (the "Disclosure").
Forward-looking statements are based on assumptions management
currently believes to be reasonable, including (without
limitation): that there will be no material adverse change in the
market price of commodities, that neither Wheaton nor the Mining
Operations will suffer significant impacts as a result of an
epidemic (including the COVID-19 virus pandemic), that the Mining
Operations will continue to operate and the mining projects will be
completed in accordance with public statements and achieve their
stated production estimates, that the mineral reserve and mineral
resource estimates from Mining Operations (including reserve
conversion rates) are accurate, that each party will satisfy their
obligations in accordance with the PMPAs, that Wheaton will
continue to be able to fund or obtain funding for outstanding
commitments, that Wheaton will be able to source and obtain
accretive PMPAs, that any outbreak or threat of an outbreak of a
virus or other contagions or epidemic disease will be adequately
responded to locally, nationally, regionally and internationally,
without such response requiring any prolonged closure of the Mining
Operations or having other material adverse effects on the Company
and counterparties to its PMPAs, that the trading of the Company's
common shares will not be adversely affected by the differences in
liquidity, settlement and clearing systems as a result of multiple
listings of the Common Shares on the LSE, the TSX and the NYSE,
that the trading of the Company's common shares will not be
suspended, that the sale of Common Shares under the ATM Program
will not have a significant impact on the market price of the
Company's common shares and that the net proceeds of sales of
Common Shares, if any, will be used as anticipated, that
expectations regarding the resolution of legal and tax matters will
be achieved (including ongoing class action litigation and CRA
audits involving the Company), that Wheaton has properly considered
the interpretation and application of Canadian tax law to its
structure and operations, that Wheaton has filed its tax returns
and paid applicable taxes in compliance with Canadian tax law, that
Wheaton's application of the CRA Settlement for years subsequent to
2010 is accurate (including the Company's assessment that there
will be no material change in the Company's facts or change in law
or jurisprudence for years subsequent to 2010), and such other
assumptions and factors as set out in the Disclosure. There can be
no assurance that forward-looking statements will prove to be
accurate and even if events or results described in the
forward-looking statements are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, Wheaton. Readers
should not place undue reliance on forward-looking statements and
are cautioned that actual outcomes may vary. The forward-looking
statements included herein are for the purpose of providing readers
with information to assist them in understanding Wheaton's expected
financial and operational performance and may not be appropriate
for other purposes. Any forward-looking statement speaks only as of
the date on which it is made, reflects Wheaton's management's
current beliefs based on current information and will not be
updated except in accordance with applicable securities laws.
Although Wheaton has attempted to identify important factors that
could cause actual results, level of activity, performance or
achievements to differ materially from those contained in
forward--looking statements, there may be other factors that cause
results, level of activity, performance or achievements not to be
as anticipated, estimated or intended.
For further information, please contact:
Patrick Drouin
Senior Vice President, Investor Relations
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
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END
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