Maverix Metals Inc.

The underwriters in the US$45.54 million cross-border secondary offering of common shares of Maverix Metals Inc. by Pan American Silver Corp.

Client

Raymond James Ltd.

Value

US$45.54 million

Service

Capital Markets

Date Closed

June 2020

Industry

Mining

Lead Office

Vancouver


 

On June 5, 2020, Maverix Metals Inc. (Maverix) and Pan American Silver Corp. (Pan American) announced the closing of a previously announced overnight marketed secondary offering of common shares of Maverix held by Pan American, including the exercise in full of the underwriters’ overallotment option. Pursuant to the secondary offering, Pan American 10,350,000 common shares of Maverix at a price of US$4.40 for aggregate gross proceeds of US$45,540,000. The secondary offering was made pursuant to an underwriting agreement dated May 29, 2020 between Maverix, Pan American and a syndicate of underwriters co-led by Raymond James Ltd., as sole bookrunner, and PI Financial Corp. and including National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and Stifel GMP.

Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets. Maverix's mission is to increase per share value by continuing to add new precious metals royalties and streams. Its shares trade on both the NYSE American and the Toronto Stock Exchange under the symbol "MMX".

Pan American is the world's second largest primary silver producer which owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. Pan American also owns the Escobal mine in Guatemala that is currently not operating. Pan American has a 25-year history of operating in Latin America, earning an industry-leading reputation for corporate social responsibility, operational excellence and prudent financial management. Pan American is headquartered in Vancouver, B.C. and its shares trade on NASDAQ and the Toronto Stock Exchange under the symbol "PAAS".

Osler, Hoskin & Harcourt acted as Canadian and U.S. counsel to the underwriters with a team led by Alan Hutchison and including James Brown, Jason Comerford, Patrick Sullivan, Jie Chai, Michael Cremers and Ian Morrison (Corporate) Colena Der, Darian Khan (Canadian Tax) Jennifer Lee and Andrew Granek (U.S. Tax).


Team
Alan Hutchison - Mining lawyer
Key Contact

Alan Hutchison

Partner, Corporate

James R. Brown | Mining lawyer

James R. Brown

Partner, Corporate

Jason  Comerford

Jason Comerford

Partner, Corporate

Patrick has a broad corporate practice with an emphasis in securities, mining and corporate gover..

Patrick Sullivan

Associate, Corporate

Jie Chai

Jie Chai

Associate, Corporate

Michael F. Cremers

Michael F. Cremers

Associate, Emerging and High Growth Companies

Ian Morrison

Ian Morrison

Associate, Corporate

Colena Der

Colena Der

Partner, Taxation

Darian Khan

Darian Khan

Associate, Taxation

Jennifer Lee

Jennifer Lee

Partner, Taxation

Andrew M. Granek

Andrew M. Granek

Associate, Taxation