Published: February 2, 2023 |

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Yamana Gold said their shareholders voted overwhelmingly in favor of the special resolution approving the acquisition by Pan American Silver Corp. following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships which hold Yamana’s interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited.

In addition to the approval by Yamana shareholders, Pan American shareholders approved the issuance of Pan American common shares in connection with the proposed transaction at a special meeting of Pan American shareholders. No approval is required from Agnico Eagle shareholders for the proposed transaction.

“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,” added Steinmann.

“I would like to thank the Yamana shareholders for their support and express my gratitude to each and every member of the Yamana team, past and present, who have been a part of this incredible journey. I am truly proud of everything we have achieved together, having taken Yamana from a single asset to a senior gold producer in less than two decades,” said Peter Marrone, executive chairman, Yamana Gold.

“Through this transaction with Pan American and Agnico Eagle, I believe we have delivered a value enhancing opportunity for our shareholders, in a market that is not currently rewarding growth, whilst also establishing the critical mass and scale that this sector desperately needs for future success. Following the positive outcome of the shareholder votes today, we look forward to working closely with the Pan American and Agnico Eagle leadership as we progress this transaction through to completion,” added Marrone.

The proposed transaction is expected to be completed during 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.

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.

To stop by Pan American’s website, CLICK HERE

About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.

To stop by Yamana’s website, CLICK HERE

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