InvestmentNov 4, 2026, 10:46 AM
Pan American Silver Invests in Galleon Gold, Acquires 15.6% Stake
AI Summary
Pan American Silver Corp. announced its acquisition of 6,250,000 common shares of Galleon Gold Corp. for C$1.12 per share through a non-brokered private placement. This acquisition, combined with existing holdings and a convertible debenture, brings Pan American Silver's ownership to approximately 15.6% on a non-diluted basis and potentially 27.3% on a partially-diluted basis. The company stated the acquisition is for investment purposes and may consider future transactions based on market conditions.
Key Highlights
- Pan American Silver acquired 6,250,000 common shares of Galleon Gold for C$1.12 per share.
- Pan American Silver now owns 26,074,766 Galleon Gold shares, representing 15.6% on a non-diluted basis.
- Post-acquisition, Pan American Silver's stake could reach 27.3% on a partially-diluted basis.
- Pan American Silver also holds an unsecured convertible debenture of C$8,000,000 in Galleon Gold.
- The debenture is convertible into 17,777,777 Galleon Gold shares at C$0.45 per share.
- If debenture converted and warrants exercised, Pan American Silver would own 53,227,543 shares (27.3% partially diluted).
Price Impact
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