Pan American Silver buys 6,250,000 Galleon Gold shares, lifting stake to 15.6%
PAAS•Pan American Silver acquired 6,250,000 Galleon Gold shares at CAD 1.12 each, raising its stake to 15.6%. Its holdings would rise to 27.3% on a partially diluted basis if it converted its debenture and exercised its warrants.
1. Share purchase details
Pan American Silver acquired 6,250,000 Galleon Gold common shares through a non-brokered private placement at CAD 1.12 per share. The purchase raised its holdings to 26,074,766 shares, or 15.6% on a non-diluted basis. Converting its CAD 8 million debenture and exercising its warrants would increase its holdings to 53,227,543 shares, equal to 27.3% on a partially diluted basis or 19.6% on a fully diluted basis. The debenture, issued August 13, 2025, carries a CAD 0.45 conversion price and 10% annual interest; the 9,375,000 warrants have a CAD 0.75 exercise price and run through December 4, 2027.
