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Pan American Silver Announces Intention to Make a Normal Course Issuer Bid
Pan American today announced that its Board of Directors has authorized a normal course issuer bid (the "Bid") to purchase up to 5% of the Company's issued and outstanding common shares. The Bid is subject to the approval of the Toronto Stock Exchange (the "TSX").
It is expected that the Bid will begin on or around March 6, 2024, and will continue until on or around March 5, 2025, or an earlier date should the Company complete its purchases. 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, and the actual number of common shares to be purchased, and the timing of any purchases, will be at the Company's discretion.
Purchases pursuant to the Bid would be made on the open market through the facilities of the TSX and the New York Stock Exchange ("NYSE") and alternative trading systems. 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 NYSE and applicable securities laws.
Posted In: PAAS
