Pan American Silver Mails and Files Management Information Circular Seeking Approval to Create the World's Premier Silver Mining Company
Suite 1440 - 625 Howe St.
Vancouver, BC Canada, V6C 2T6
604-684-1175
www.panamericansilver.com
PAN AMERICAN SILVER CORP.
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Pan American Silver Mails and Files Management Information Circular Seeking Approval to
Create the World's Premier Silver Mining Company
Vancouver, B.C. - Dec. 6, 2018 - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) (“Pan American”) today
announces it has filed a management information circular (the "Circular") for their special shareholders'
meeting to be held in connection with Pan American’s proposed acquisition of all of the issued and
outstanding common shares of Tahoe Resources Inc. (“Tahoe”) by way of a plan of arrangement (the
“Arrangement”) under the Business Corporations Act (British Columbia) to create the world’s premier silver
mining company.
The mailing of the Circular and other materials has commenced and shareholders of Pan American should
receive them shortly. An electronic copy of the Circular is available on Pan American's website at
www.panamericansilver.com/investors/tahoe-transaction/ and on SEDAR under Pan American’s profile at
www.sedar.com.
Your vote is important regardless of the number of shares you own. Pan American encourages
shareholders to read the Circular in detail.
YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY
The Pan American Board of Directors UNANIMOUSLY recommends that
Shareholders vote FOR the proposed resolutions.
Reasons for and Benefits of the Arrangement
Pan American expects the Arrangement to provide long-term strategic, financial and operational benefits and
advantages for shareholders. In evaluating the Arrangement and unanimously reaching their conclusion and
making their recommendations in support of the Arrangement, the Pan American Board considered the
benefits and advantages resulting from the Arrangement, including, among others:
• Addition of Tahoe’s Escobal mine, one of the World’s Most Attractive Silver Mines
• World Class Primary Silver Asset Portfolio
• World’s Largest Silver Reserve Base and Silver Measured and Indicated Resource Base
• High Margin and Low Cost Production
• Robust Growth Profile
• Strong Financial Position
• Enhanced Geographical Diversification
• Largest Publicly-Traded Silver Mining Company by Free Float
Pan American Meeting
The special meeting of shareholders of Pan American is scheduled for 10:00 a.m. (Vancouver time)
on Tuesday, January 8, 2019 at 1200 Waterfront Centre, 200 Burrard Street, Vancouver, British
Columbia, to consider a special resolution (the “Authorized Capital Resolution”) to approve the
increase of the maximum number of authorized common shares of Pan American. As well, you will
be asked to consider an ordinary resolution (the “Share Issuance Resolution”) to approve the
issuance of up to 72,533,152 Pan American Shares to the shareholders of Tahoe as consideration
PAN AMERICAN SILVER CORP.
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pursuant to the Arrangement.
Shareholder Information and Questions
Pan American shareholders who have questions about the Circular, or need assistance with voting
their shares, can contact our proxy solicitation agent, Laurel Hill Advisory Group:
Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America:
1-416-304-0211
Email: [email protected]
Shareholders are encouraged to vote today using the internet, telephone or facsimile.
About Pan American Silver
Pan American Silver Corp. is the world’s second largest primary silver producer, providing enhanced exposure to
silver through a diversified portfolio of assets, large reserves and growing production. We own and operate six
mines in Mexico, Peru, Argentina and Bolivia. Pan American maintains a strong balance sheet, has an established
management team with proven operating expertise, and is committed to responsible development. Founded in
1994, the Company is headquartered in Vancouver, B.C. and our shares trade on NASDAQ and the Toronto Stock
Exchange under the symbol "PAAS".
For more information, visit: www.panamericansilver.com.
For more information contact:
Siren Fisekci
VP, Investor Relations & Corporate Communications
Ph: 604-806-3191
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements and Information
Certain of the statements and information in this news release constitute "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of
historical fact, are forward-looking statements or information. Forward-looking statements or information in this
news release relate to, among other things, the anticipated timing for the special meeting, the combined
company’s silver asset portfolio, margins and production costs following the effective date of the Arrangement, the
combined company’s growth profile, the combined company’s financial position, the combined company’s
diversification and the free float of the combined company.
These forward-looking statements and information reflect Pan American Silver’s (the “Company”) current views
with respect to future events and are necessarily based upon a number of assumptions that, while considered
reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory
uncertainties and contingencies. The Company cautions the reader that forward-looking statements and
information involve known and unknown risks, uncertainties and other factors that may cause actual results and
developments to differ materially from those expressed or implied by such forward-looking statements or
information contained in this news release and the Company has made assumptions and estimates based on or
related to many of these factors. Among the key factors that could cause actual results to differ materially from
those projected in the forward-looking information are the following: the ability to consummate the Arrangement;
the ability to obtain requisite regulatory and shareholder approvals and the satisfaction of other conditions to the
consummation of the Arrangement on the proposed terms and schedule; restart of the Escobal Mine; expansion of
the La Colorada mine; development of the Navidad project; the ability of the parties to successfully integrate the
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operations and employees and realize synergies and cost savings, and to the extent anticipated; the potential
impact on exploration activities; the potential impact of the announcement or consummation of the Arrangement
on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in
general economic, business and political conditions, including changes in the financial markets; changes in
applicable laws; compliance with extensive government regulation; and the diversion of management time on the
Transaction.
Certain of these factors are identified under the caption "Risks Related to Pan American's Business" in the
Company's most recent form 40-F and Annual Information Form filed with the United States Securities and
Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although the
Company has attempted to identify important factors that could cause actual results to differ materially, there may
be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are
cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and
information are designed to help readers understand management's current views of our near and longer term
prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any
obligation to update or revise forward-looking statements or information, whether as a result of new information,
changes in assumptions, future events or otherwise, except to the extent required by applicable law.