VANCOUVER, July 11,
2016 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS;
TSX: PAA) (the "Company") has today filed a preliminary short
form base shelf prospectus with the securities commissions in each
province and territory of Canada
and a corresponding shelf registration statement with the United
States Securities and Exchange Commission (the "SEC"). These
filings, when made final, will allow the Company to make offerings
of common shares, debt securities, subscription receipts, units,
warrants, or any combination thereof of up to US$500 million (or the equivalent thereof in
Canadian dollars) during the next 25 months to potential
purchasers in each province and territory of Canada and the
United States. The Company has filed this prospectus in
order to provide the Company with greater flexibility going
forward. The net proceeds from any such offerings could be used by
the Company for general working capital purposes, and for one or
more other general corporate purposes including to complete
corporate acquisitions, to, directly or indirectly, finance future
growth opportunities and to repay existing or future indebtedness.
The terms of such future offerings, if any, will be established at
the time of such offerings. At the time any of the securities
covered by the shelf prospectus are offered for sale, a prospectus
supplement containing specific information about the terms of any
such offering will be filed with applicable Canadian securities
commissions and the SEC.
The registration statement filed today has not
yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state. A copy of the prospectus may be obtained from Delaney Fisher, the Company's Secretary, at 1500
– 625 Howe Street, Vancouver, British
Columbia, V6C 2T6.
About Pan American Silver
Pan American Silver's mission is to be the
world's pre-eminent silver producer, with a reputation for
excellence in discovery, engineering, innovation and sustainable
development. The Company has seven operating mines in Mexico, Peru,
Argentina and Bolivia. Pan American also owns several
development projects in the USA,
Mexico, Peru and Argentina. Pan American is located at 1500 -
625 Howe Street, Vancouver, British
Columbia, V6C 2T6.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS AND INFORMATION
THIS NEWS 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. SUCH
FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT
LIMITED TO STATEMENTS AS TO THE COMPANY'S IMMEDIATE PLANS, OR NEED,
TO MAKE AN OFFERING AND THE USE OF PROCEEDS OF ANY SUCH
OFFERING. THE COMPANY DOES NOT INTEND, AND DOES NOT ASSUME
ANY OBLIGATION TO, UPDATE SUCH FORWARD-LOOKING STATEMENTS OR
INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.
THE COMPANY 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 THE COMPANY HAS MADE
ASSUMPTIONS AND ESTIMATES BASED ON OR RELATED TO MANY OF THESE
FACTORS. SUCH FACTORS INCLUDE, WITHOUT LIMITATION: FLUCTUATIONS IN
SILVER, GOLD AND BASE METALS PRICES; FLUCTUATIONS IN PRICES FOR
ENERGY INPUTS, LABOUR, MATERIALS, SUPPLIES AND SERVICES (INCLUDING
TRANSPORTATION); FLUCTUATIONS IN CURRENCY MARKETS (SUCH AS THE
CANADIAN DOLLAR, PERUVIAN SOL, MEXICAN PESO AND BOLIVIAN BOLIVIANO
VERSUS THE U.S. DOLLAR); OPERATIONAL RISKS AND HAZARDS INHERENT
WITH THE BUSINESS OF MINING (INCLUDING ENVIRONMENTAL ACCIDENTS AND
HAZARDS, INDUSTRIAL ACCIDENTS, EQUIPMENT BREAKDOWN, UNUSUAL OR
UNEXPECTED GEOLOGICAL OR STRUCTURAL FORMATIONS, CAVE-INS, FLOODING
AND SEVERE WEATHER); RISKS RELATING TO THE CREDIT WORTHINESS OR
FINANCIAL CONDITION OF SUPPLIERS, REFINERS AND OTHER PARTIES WITH
WHOM THE COMPANY DOES BUSINESS; INADEQUATE INSURANCE, OR INABILITY
TO OBTAIN INSURANCE, TO COVER THESE RISKS AND HAZARDS; EMPLOYEE
RELATIONS; RELATIONSHIPS WITH, AND CLAIMS BY, LOCAL COMMUNITIES AND
INDIGENOUS POPULATIONS; OUR ABILITY TO OBTAIN ALL NECESSARY
PERMITS, LICENSES AND REGULATORY APPROVALS IN A TIMELY MANNER;
CHANGES IN LAWS, REGULATIONS AND GOVERNMENT PRACTICES IN THE
JURISDICTIONS WHERE WE OPERATE, INCLUDING ENVIRONMENTAL, EXPORT AND
IMPORT LAWS AND REGULATIONS; DIMINISHING QUANTITIES OR GRADES OF
MINERAL RESERVES AS PROPERTIES ARE MINED; INCREASED COMPETITION IN
THE MINING INDUSTRY FOR EQUIPMENT AND QUALIFIED PERSONNEL; AND
THOSE FACTORS IDENTIFIED UNDER THE CAPTION "RISKS RELATED TO PAN
AMERICAN'S BUSINESS" IN THE COMPANY'S MOST RECENT FORM 40-F AND
ANNUAL INFORMATION FORM FILED WITH THE
UNITED STATES SECURITIES AND EXCHANGE COMMISSION AND
CANADIAN SECURITIES REGULATORY AUTHORITIES, RESPECTIVELY. ALTHOUGH
THE COMPANY 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 AND 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. THE COMPANY DOES NOT INTEND, NOR DOES IT ASSUME ANY
OBLIGATION TO UPDATE OR REVISE FORWARD-LOOKING STATEMENTS AND
INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, CHANGES IN
ASSUMPTIONS, FUTURE EVENTS OR OTHERWISE, EXCEPT TO THE EXTENT
REQUIRED BY APPLICABLE LAW.
SOURCE Pan American Silver Corp.