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Tue May 15, 2001
Pan American Silver Corp. Announces Financing
Pan American Silver Corp. (NASDAQ: PAAS; TSE: PAA) announces that, subject to regulatory approval, it has engaged National Bank Financial Inc. as its agent to conduct an offering of up to 3,000,000 common shares of Pan American. The shares will be offered in both Canada and the United States under Pan American's existing shelf prospectus dated July 20, 1999. Proceeds of the offering will be used for working capital and general corporate purposes.
This news release shall not constitute an officer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Pan American Silver Corp. is a mining company focused exclusively on silver. The Company recently doubled its silver output through successful start-up of production at its second South American operation, the Huaron mine, which increases silver production to over 8 million ounces annually. Pan American also operates the La Colorada mine in Mexico and conducts silver exploration and development programs in Peru, Mexico and Bolivia, the world's dominant silver producing countries.
Ross J. Beaty, Chairman or
Rosie Moore, VP Corporate Relations
(604) 684-1175
www.panamericansilver.com
The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results. Such risks and uncertainties include those described in the Company's Form 40-F as amended. All amounts are expressed in U.S. dollars. |
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