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Pan American Shareholders Approve Deal With Yamana - Agnico Eagle

Feb 1, 2023

Pan American Silver Corp. shareholders at a special shareholders meeting overwhelmingly approved the issuing of  up to 156,923,287 common shares of Pan American  to Agnico Eagle Mines Limited and Yamana as part of an arrangement announced in November, 2022 that would see Pan American acquire Yamana Gold's common shares.

Pan American would then acquire all of the issued and outstanding common shares of Yamana Gold Inc.. In turn,  Yamana would then sell  its Canadian assets, including certain subsidiaries and partnerships which hold Yamana's interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited.

 Yamana shareholders also approved the arrangement at their special shareholders meeting. The arrangement is expected to be completed within the first quarter of 2023, subject to approval by the Ontario Superior Court of Justice, approval from the Mexican Federal Economic Competition Commission (COFECE) and satisfaction or waiver of certain other closing conditions.

"We are very pleased  to see such positive shareholder support for our accretive acquisition of Yamana," said Michael Steinmann, President and Chief Executive Officer of Pan American. "This is a transformational and strategic transaction for Pan American that will strengthen the Company's position as the leader in silver and gold production in Latin America."

Further information on the Arrangement is available on Pan American's website at:

About Pan American
Pan American owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. We also own the Escobal mine in Guatemala that is currently not operating. Pan American provides enhanced exposure to silver through a large base of silver reserves and resources, as well as major catalysts to grow silver production. We have a 29-year history of operating in Latin America, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on NASDAQ and the Toronto Stock Exchange under the symbol "PAAS".

Learn more at panamericansilver.com.

 For further information:
 Pan American contact: Siren Fisekci, VP, Investor Relations & Corporate Communications, Ph: 604-806-3191, Email: ir@panamericansilver.com


Image Pic 2 Pan American Logo

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