Pan American Silver Corp. (NYSE: PAAS, TSX: PAAS) successfully completed its acquisition of all outstanding shares of MAG Silver Corp. (NYSE American: MAG, TSX: MAG). This acquisition significantly expands Pan American‘s holdings.
The deal includes a substantial 44% joint venture interest in the Juanicipio silver mine, located in Zacatecas, Mexico, which is operated by Fresnillo plc. Pan American also gained full ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project.
Michael Steinmann, President and CEO of Pan American, expressed satisfaction with the acquisition. He emphasized the Juanicipio mine’s importance in enhancing Pan American‘s silver production, reserves, and overall cash flow. He also welcomed former MAG shareholders into the Pan American fold. Steinmann noted the collaborative relationship Pan American expects to develop with Fresnillo.
MAG shareholders received a combination of cash and Pan American shares in exchange for their MAG shares. This resulted in former MAG shareholders holding about 14.3% of Pan American‘s outstanding shares on a fully diluted basis.
Trading of MAG shares is expected to cease on the Toronto Stock Exchange on September 8, 2025, and on the NYSE American on September 4, 2025. Pan American is working to finalize the delisting process and terminate MAG‘s public reporting obligations.
Pan American Silver is a prominent silver and gold producer with operations across the Americas, including Canada, Mexico, Peru, Brazil, Bolivia, Chile, and Argentina. The company has a long history in the region and maintains a focus on sustainability, operational efficiency, and responsible financial management. The company’s shares trade on both the New York Stock Exchange and the Toronto Stock Exchange.
The announcement included a cautionary statement regarding forward-looking information. Pan American acknowledged inherent risks and uncertainties associated with the mining industry, including market price fluctuations, operational challenges, and regulatory changes. The company emphasized that actual results could differ materially from predictions. The company does not plan to update its forward-looking statements unless legally required.
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