Report of Foreign Issuer (6-k)
December 18 2014 - 12:58PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________________
FORM
6-K
_____________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT of 1934
December 17, 2014
_____________________
Pan
American Silver Corp.
(Exact name of registrant as specified in its
charter)
1500-625
HOWE STREET
VANCOUVER BC CANADA V6C 2T6
(Address of principal executive offices)
000-13727
(Commission File Number)
_____________________
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1). _____
|
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security
holders. |
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
|
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make
public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s
“home country”), or under the rules of the home country exchange on which the registrant’s securities are
traded, as long as the report or other document is not a press release, is not required to be and has not been distributed
to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR. |
Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
If "Yes" is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b): ______
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Pan American Silver Corp. |
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(Registrant) |
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Date: December 17, 2014 |
By: |
/s/ ROBERT PIROOZ |
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Robert Pirooz |
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General Counsel |
EXHIBIT LIST
Exhibit |
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Description |
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99.1 |
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News Release dated December 17, 2014 - Pan American Silver Announces Normal Course Issuer Bid |
Exhibit 99.1
Pan American Silver Announces Normal Course Issuer Bid
Company to Repurchase up to 5% of Issued
and Outstanding Common Shares
VANCOUVER, Dec. 17, 2014 /CNW/ - Pan American Silver
Corp. (PAAS: NASDAQ; PAA: TSX) ("Pan American" or the "Company") today announced that the Toronto Stock
Exchange (the "TSX") has accepted the Company's notice of its intention to make a normal course issuer bid (the "Bid")
to purchase up to 7,575,290 of its common shares, representing up to 5% of Pan American's issued and outstanding shares as of December
7, 2014. Purchases pursuant to the bid will be made on the open market through the facilities of the TSX and the Nasdaq Global
Select Market ("NASDAQ") and other Canadian trading platforms. The period of the Bid will begin on December 22,
2014 and will continue until December 21, 2015 or an earlier date should the Company complete its purchases.
Pan American will pay the market price at the time of acquisition
of any common shares in accordance with the rules and policies of the TSX and NASDAQ and applicable securities laws. All
common shares acquired by the Company under the Bid will be cancelled and purchases will be funded out of Pan American's working
capital. Although the Company has a present intention to acquire its common shares pursuant to the Bid, it is not obligated
to make any purchases.
Pan American did not make any purchases under its previous
normal course issuer bid program announced by the Company on November 28, 2013. The previous normal course issuer bid commenced
on December 5, 2013 and ended on December 4, 2014.
As at December 7, 2014, the number of Pan American's issued
and outstanding common shares totaled 151,505,815. In accordance with the rules of the TSX, the maximum daily purchases on
the TSX under this normal course issuer bid will be 51,601 common shares, which is 25% of the average daily trading volume
for the Company's common shares on the TSX for the six months ended November 30, 2014 which was 206,404 common shares. In
accordance with applicable U.S. securities laws, the maximum daily purchases on NASDAQ under this normal course issuer bid will
be 25% of the average daily trading volume for the Company's common shares in the four weeks preceding the day on which the purchases
are to be made.
Pan American is undertaking the Bid because, in the opinion
of its board of directors, the market price of its common shares, from time to time, may not fully reflect the underlying value
of its mining operations, properties and future growth prospects. The Company believes that in such circumstances, the outstanding
common shares represent an appealing investment option for Pan American since a portion of the Company's cash balance can be invested
for an attractive risk adjusted return through the Bid.
A copy of the Company's notice of its intention to make a
normal course issuer bid filed with the TSX can be obtained from the Corporate Secretary of Pan American without charge.
About Pan American Silver
Pan American'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.
SOURCE Pan American Silver Corp.
%CIK: 0000771992
For further information: Kettina Cordero, Manager, Investor
Relations, (604) 684-1175, info@panamericansilver.com, www.panamericansilver.com
CO: Pan American Silver Corp.
CNW 20:00e 17-DEC-14
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