MAG Silver Corp. Announces Preliminary Election Results for Pan American Silver Corp. Acquisition

MAG Silver Corp. announces preliminary results of the election by shareholders regarding the form of consideration in the plan of arrangement with Pan American Silver Corp. Approximately 1.71% of MAG shareholders elected to receive cash consideration, while the remaining 98.29% elected to receive share consideration. All required approvals have been obtained, and the parties expect to close the arrangement on or about September 4, 2025.

VANCOUVER, British Columbia — MAG Silver Corp. (NYSEAM: MAG) (TSX: MAG) announced that approximately 1.71% of its shareholders have elected to receive cash consideration, while the remaining 98.29% have chosen share consideration in the plan of arrangement with Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS). All required approvals have been obtained, and the parties expect to close the arrangement on or about September 4, 2025 [1].

The election results reflect a significant preference for the share consideration option, which includes receiving 0.755 Pan American shares per MAG share. This choice provides MAG shareholders with exposure to Pan American's diversified portfolio and growth opportunities, as well as a potential for increased liquidity and market presence [1].

The transaction, initially announced in May 2025, is expected to add MAG's 44% interest in the Juanicipio mine to Pan American's portfolio, significantly enhancing its silver production and reserves. Juanicipio is forecasted to produce between 14.7 Moz and 16.7 Moz of silver in 2025, with a significant exploration potential [1].

The arrangement requires MAG shareholder approval of 66 2/3% of the votes cast at a special meeting, which is expected to be held in July 2025. All directors and executive officers of MAG have entered into voting support agreements with Pan American, ensuring that the required approval threshold is met [1].

The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including clearance under Mexican anti-trust laws and approval of the listing of the Pan American common shares to be issued under the Transaction on both the Toronto Stock Exchange and the NYSE [1].

References:
[1] https://www.businesswire.com/news/home/20250511143971/en/Pan-American-Silver-Announces-Agreement-to-Acquire-MAG-Silver-Corp.