Market Overview

Important Reminder to Vote for Tahoe's Proposed Plan of Arrangement With Pan American Silver

Share:

Tahoe Resources Inc. ("Tahoe") (TSX:THO) (NYSE:TAHO) would like to
remind shareholders that the proxy voting deadline to vote their shares
for the proposed plan of arrangement (the "Arrangement") with Pan
American Silver Corp. ("Pan American") is 11:00 a.m. PT on Friday,
January 4, 2019.

Reasons and Benefits of the Arrangement:

In evaluating the Arrangement and UNANIMOUSLY
reaching their conclusion and making their recommendation that Tahoe
shareholders vote FOR the Arrangement, the
Tahoe Board of Directors considered the benefits and advantages
resulting from the Arrangement, including, among others:

  • Significant Premium to Tahoe Shareholders
  • Meaningful Participation in the World's Largest Publicly-Traded
    Silver Company by Free Float
  • Tahoe Shareholders Retain Exposure to the Restart of the Escobal
    Mine
  • Participation in the Diversified Portfolio of the Combined Company
  • Stronger Financial Position and Balance Sheet Strength
  • Addresses Cash Flow and Financial Liquidity Risk and Other
    Considerations Resulting from the Extended Shutdown of the Escobal Mine
  • Strong Proven Management Team

Independent Proxy Advisors Recommend Tahoe Shareholders Vote FOR
the Arrangement

Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass
Lewis") are two leading independent, third-party proxy advisory firms
who issue voting recommendations to institutional shareholders. Both ISS
and Glass Lewis have recommended that shareholders of Tahoe vote FOR
the Arrangement with Pan American.

Tahoe Meeting

The special meeting of shareholders of Tahoe is scheduled for 11:00 a.m.
PT on Tuesday, January 8, 2019 at Royal Centre, 1055 West Georgia
Street, Suite 1500, Vancouver, British Columbia.

Additional information concerning the Arrangement can be found in
Tahoe's information circular (the "Information Circular") dated December
4, 2018. An electronic copy of the Information Circular is available
under Tahoe's profile on SEDAR at www.sedar.com
and on Tahoe's website at http://www.tahoeresources.com/investors/pan-american-transaction.

YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY

How to Vote

Shareholders are encouraged to vote today using the internet or
telephone, to ensure your vote is received in a timely manner.

Registered shareholders: Shares held in
your own name and represented by a physical certificate may vote by:

Beneficial shareholders: Shares held
with a broker, bank or other intermediary may vote by:

Consideration Election

Tahoe shareholders may elect whether they would like to receive cash
consideration or share consideration in respect of each Tahoe share held
upon completion of the Arrangement, subject to proration based on a
maximum cash consideration of US$275 million and a maximum of 56,074,675
Pan American shares to be issued. If you fail to make a proper election
prior to the election deadline, you will be deemed to have elected to
receive the share consideration in respect of each Tahoe share held.

The deadline to elect your preferred form of
consideration is 4:00 p.m. PT/7:00 p.m. ET on Thursday, January 3, 2019.

Shareholder Questions and Assistance

If you have any questions or require assistance voting your Tahoe
shares, please contact our proxy solicitation agent, Laurel Hill
Advisory Group, at 1-877-452-7184 toll-free in North America, or call
collect outside North America at +1 416-304-0211, or by e-mail at assistance@laurelhill.com.

About Tahoe Resources Inc.

Tahoe Resources is a mid-tier precious metals company with a diverse
portfolio of mines and projects in Canada, Guatemala and Peru. Tahoe is
led by experienced mining professionals dedicated to creating
sustainable value for all of its stakeholders through responsible
mining. The company is listed on the TSX ("THO") and NYSE ("TAHO") and
is a member of the S&P/TSX Composite, the TSX Global Mining indices and
the Russell 2000 on the NYSE.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the
meaning of Section 27A of the U.S. Securities Act, Section 21E of the
U.S. Exchange Act, or the U.S. Private Securities Litigation Reform Act
of 1995 and "forward-looking information" within the meaning of
applicable Canadian securities legislation (forward-looking information
and forward-looking statements being collectively herein after referred
to as "forward-looking statements"). These forward-looking statements
include but are not limited to statements and information concerning the
potential benefits of the Arrangement.

These forward-looking statements are based on the beliefs of Tahoe's
management, as well as on assumptions, which management believes to be
reasonable based on information currently available at the time such
statements were made. However, there can be no assurance that the
forward-looking statements will prove to be accurate. Such assumptions
and factors include, among other things, the satisfaction of the terms
and conditions of the Arrangement, including the approval of the
Arrangement and its fairness by the court, the receipt of shareholder
approvals, and the receipt of the required governmental and regulatory
approvals and consents.

By their nature, forward-looking statements are based on assumptions and
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Tahoe or
Pan American to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Forward-looking statements are subject to a variety of
risks, uncertainties and other factors which could cause actual events
or results to differ from those expressed or implied by forward-looking
statements, including, without limitation: the Arrangement Agreement may
be terminated in certain circumstances; Tahoe will incur costs even if
the Arrangement is not completed, and may also be required to pay a
termination fee to Pan American; the termination fee may discourage
other parties from attempting to acquire Tahoe; risks related to the
business combination with Pan American, including risks related to
assimilating operations and employees; risks related to the diversion of
management time on the Arrangement; risks related to the completion of
the Arrangement having a potential adverse effect on the market price of
Pan American shares; the potential impact of the announcement or
consummation of the Arrangement on relationships, including with
regulatory bodies, employees, suppliers, customers and competitors;
general business, economic, competitive, political, regulatory and
social uncertainties; the future price of gold, silver, copper, lead and
zinc and market price volatility; changes in applicable laws and
compliance with government regulation; risks related to the timing and
possible outcome of pending or threatened litigation and the risk of
unexpected litigation; risks related to political developments and
policy shifts; and risks related to community and non-governmental
actions.

Some of the important risks and uncertainties that could affect
forward-looking statements are described further in the Information
Circular and under the heading "Risks Related to Tahoe's Business" in
Tahoe's most recent Form 40-F and annual information form filed with the
United States SEC and Canadian provincial securities regulatory
authorities, respectively, and included in the management's discussion
and analysis for the nine months ended September 30, 2018. Although
Tahoe has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
These forward-looking statements are made as of the date of this news
release and other than as required by applicable securities laws, Tahoe
assumes no obligation to update or revise them to reflect new events or
circumstances, except to the extent required by applicable law.

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