Pan American Silver rises after purchase of Galleon Gold units in private placement

Galleon Gold

05/12/2025 12:46

** U.S.-listed shares of Canadian miner Pan American Silver Corp PAAS.TO, PASS.N rise 1.7% to $44.9 premarket

** Co acquires 18.75 mln units of Galleon Gold Corp GGO.V through a non-brokered private placement for C$0.60 per unit

** Co says the acquisition was part of a larger brokered private placement by Galleon totaling 50 mln units

** PAAS adds that it now holds 18.75 million shares, 9.38 million warrants and a debenture, giving it about 14.7% of Galleon on a non-diluted basis and 29.7% on a partially diluted basis

** Co may buy or sell more Galleon securities in the future, depending on market conditions and strategic plans

** Up to last close, shares up 118.6% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))