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February 2004
Pan American Silver Announces $55 Million Common Share Financing
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Silver - In the News - Feb 2004

Pan American Silver Announces $55 Million Common Share Financing

As reported by Yahoo Finance, Press Release

According to a press release issued by Pan American, an institutional investor has agreed to purchase 3,333,333 common shares of Pan American stock. The selling price was reported to be $16.50 per share ( Gross 55 million US dollars ). Pan American expects the final deal to close on March 12, 2004, pending approval by regulatory agencies.

In the press release, Pan American stated that it would use the money, in part, to fund its recently acquired Morococha silver mine in Peru.

See also: Silver: Value, Price, Investment


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