Pan American Silver (TSX:PAAS) approved to acquire Yamana Gold (TSX:YRI)

• Pan American Silver (PAAS) previously proposed the acquisition of all of the issued and outstanding common shares of Yamana Gold following Yamana’s sale of its Canadian assets to Agnico Eagle Mines
• The Mexican Federal Economic Competition Commission has approved the arrangement, and all required regulatory, shareholder, and court approvals have been received
• The acquisition is expected to be completed on or about March 31, 2023
• Pan American has also declared a cash dividend of $0.10 per common share
• Pan American owns and operates silver and gold mines in Mexico, Peru, Canada, Argentina, and Bolivia
• Pan American Silver (PAAS) is up by 1.99 per cent trading at $25.15 per share

Pan American Silver (PAAS) has been cleared to acquire Yamana Gold.

The Mexican Federal Economic Competition Commission approved the acquisition following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships, to Agnico Eagle Mines.

The acquisition is anticipated to be completed on or about March 31, 2023, having attained all required regulatory, shareholder, and court approvals.

Pan American has declared a cash dividend of $0.10 per common share, payable on or about May 12, 2023, to holders of record as of the close on April 14, 2023. The dividend is eligible for Canadian income tax purposes.

Pan American selected the record and payment date to harmonize with Yamana’s normal course dividend timing.

Subsequent dividends are expected to follow Pan American’s previous schedule of dividend payments.

Pan American Silver (PAAS) is up by 1.99 per cent trading at $25.15 per share as of 10:53 am EST.