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Thu Jan 8, 2004
Pan American Silver Files Shelf Prospectus To Permit Exercise Of "Corner Bay" Warrants By U.S. Holders
Vancouver, Canada -- Pan American Silver Corp. (NASDAQ: PAAS; TSE: PAA) has filed a preliminary short form shelf prospectus with the securities commissions in British Columbia, Alberta, Manitoba and Ontario and a corresponding registration statement with the United States Securities and Exchange Commission. The purpose of this filing and a subsequent prospectus supplement is to qualify the issuance of common shares to U.S. persons upon the exercise of 3.8 million warrants of the Company issued in February 2003 in connection with the Company's acquisition of Corner Bay Silver Inc. These outstanding warrants have an exercise price of Cdn$12.00 and expire on February 20, 2008. The Company does not intend to utilize these filings or any supplements thereto in connection with any share issuance other than upon the exercise of these warrants by U.S. holders. These filings, when made final, will allow the Company to make offerings of up to Cdn$45,819,960 million of common shares upon the exercise of the above warrants during the next 25 months to potential purchasers in the filing provinces and the United States.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but 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 by 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 law of any such state. A copy of the prospectus may be obtained from the Company's Vice-President, Corporate Relations.
For Further Information Contact:
Brenda Radies, Vice-President Corporate Relations
(604) 684-1175
www.panamericansilver.com |
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