Market Overview

Pan American Silver Announces Normal Course Issuer Bid

Pan American Silver Corp. (NASDAQ: PAAS)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 7,607,277 of its common shares, representing up to 5% of Pan American's issued and outstanding shares as of August 20, 2012. 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"). The period of the Bid will begin on September 4, 2012 and will continue until September 3, 2013 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

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Posted-In: News M&A Global

 

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