Pan American Silver Corp. (Pan American) has announced that at its special meeting of shareholders held yesterday, shareholders overwhelmingly approved the resolution to increase the maximum number of authorised shares of Pan American (the authorised capital resolution) and the resolution to issue up to 72 533 152 Pan American shares (the share issuance resolution) in connection with the proposed plan of arrangement (the arrangement) pursuant to which Pan American will acquire all of the issued and outstanding shares of Tahoe Resources Inc. (Tahoe).
In addition to the approval by Pan American shareholders, Tahoe shareholders approved the arrangement at the special meeting of Tahoe shareholders held yesterday. The arrangement is subject to approval by the Supreme Court of British Columbia and satisfaction of certain other customary closing conditions. The arrangement is expected to be completed on or about 26 February 2019, following authorisation from the Mexican Federal Economic Competition Commission.
"We are very pleased to see strong shareholder support for our acquisition of Tahoe," said Michael Steinmann, President and CEO of Pan American.
"This is a logical combination that provides investors with exposure to a geographically diversified portfolio of some of the world's best silver mining assets."