TIDMWPM
RNS Number : 8621Y
Wheaton Precious Metals Corp.
10 May 2023
May 9, 2023
Vancouver, British Columbia
Wheaton Precious Metals Announces Renewal Of Its At-The-Market
Equity Program
Wheaton Precious Metals Corp. ("Wheaton" or the "Company")
announced today that the Company has renewed its at-the-market
equity program (the "ATM Program"). The ATM Program allows the
Company to issue up to US$300 million (or the equivalent in
Canadian dollars determined using the daily exchange rate posted by
the Bank of Canada on the date of sale) of common shares ("Common
Shares") from treasury to the public from time to time, at the
Company's discretion and subject to regulatory requirements. Any
Common Shares sold in the ATM Program will be sold (i) in ordinary
brokers' transactions on the NYSE or another US marketplace on
which the Common Shares are listed, quoted or otherwise trade, (ii)
ordinary brokers' transactions on the TSX, (iii) on another
Canadian marketplace on which the Common Shares are listed, quoted
or otherwise trade, or (iv) with respect to sales in the United
States, at the prevailing market price, a price related to the
prevailing market price or at negotiated prices. Since the Common
Shares will be distributed at the prevailing market prices at the
time of the sale or certain other prices, prices may vary among
purchasers and during the period of distribution.
Wheaton has not utilized the ATM Program since its inception in
April 2020 as a result of robust cash flows and access to debt.
Wheaton intends to use the net proceeds from the ATM Program, if
any, where needed for funding precious metals purchase agreements
("PMPAs") and/or other general corporate purposes, including the
repayment of indebtedness.
Sales of Common Shares through the ATM Program, if any, will be
made pursuant to the terms of an ATM equity offering sales
agreement dated May 9, 2023 (the "Sales Agreement") entered into
among the Company, BofA Merrill Lynch, BMO Capital Markets, RBC
Dominion Securities Inc., Scotiabank, CIBC Capital Markets, TD
Securities, National Bank Financial Markets, Eight Capital, Raymond
James Ltd. and Canaccord Genuity (the "Canadian Agents") and BofA
Securities, BMO Capital Markets, RBC Capital Markets, LLC, and
Scotiabank (the "U.S. Agents" and, together with the Canadian
Agents, the "Agents"). The ATM Program will be effective until the
date that all Common Shares available for issue under the ATM
Program have been issued or the ATM Program is terminated prior to
such date by the Company or the Agents.
Concurrent with the entering into of the Sales Agreement, the
Company's previously announced ATM equity offering sales agreement
dated April 16, 2020, as amended on May 12, 2021, was terminated.
No Common Shares were issued through the Company's previous
at-the-market equity program.
The ATM Program is being established pursuant to a prospectus
supplement dated May 9, 2023 (the "Canadian Prospectus Supplement")
to the Company's Canadian base shelf prospectus dated April 13,
2023 (the "Canadian Shelf Prospectus") filed with the securities
commissions in each of the provinces and territories of Canada and
pursuant to a prospectus supplement dated May 9, 2023 (the "U.S.
Prospectus Supplement") to the Company's U.S. base prospectus dated
April 13, 2023 (the "U.S. Base Prospectus") included in its
registration statement on Form F-10 (the "Registration Statement")
and filed with the U.S. Securities and Exchange Commission (the
"SEC"). The Sales Agreement, Canadian Prospectus Supplement and
Canadian Shelf Prospectus may be downloaded from SEDAR at
www.sedar.com , and the Sales Agreement, the U.S. Prospectus
Supplement, the U.S. Base Prospectus and the Registration Statement
are accessible via EDGAR on the SEC website at www.sec.gov .
Alternatively, any of the following agents participating in the ATM
Program will arrange to send you these documents if you request it
by contacting, in Canada:
BofA Merrill Lynch by mail at 181 Bay Street, Suite 400,
Toronto, Ontario M5J2V8 Canada, by email at
Dg.can_dcm@bankofamerica.com or by telephone at 416-369-7400.
BMO Capital Markets by mail at Brampton Distribution Centre,
9195 Torbram Road, Brampton, Ontario, L6S 6H2, attn: The Data Group
of Companies, by email at torbramwarehouse@datagroup.ca or by
telephone at 905-791-3151 ext. 4312.
RBC Dominion Securities Inc. by mail at 180 Wellington Street
West, 8(th) Floor, Toronto, ON M5J 0C2, attn: Distribution Centre,
by email at Distribution.RBCDS@rbccm.com or by telephone at
416-842-5349.
Scotiabank by mail at 40 Temperance Street, 5th Floor, Toronto,
Ontario M5H 0B4, attn: Equity Capital Markets, by email at
equityprospectus@scotiabank.com or by telephone at
416-863-7704.
or in the United States:
BofA Securities by mail at 201 North Tryon, Charlotte, NC 28255,
Mail Code NC1-022-02-25, attn: Prospectus Department or by email at
dg.prospectus_requests@bofa.com .
BMO Capital Markets by mail at 151 West 42nd Street, New York,
NY 10036, attn: Equity Syndicate, by email at bmoprospectus@bmo.com
, or by telephone at 800-414-3627.
RBC Capital Markets, LLC by mail at 200 Vesey Street, 8th Floor,
New York, NY 10281-8098, attn: Equity Syndicate, by email at
equityprospectus@rbccm.com or by telephone at 877-822-4089.
Scotiabank by mail at 250 Vesey Street, 24th Floor, New York,
New York, 10281, attn: Equity Capital Markets, by email at
equityprospectus@scotiabank.com or by telephone at
212-225-6853.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the Common Shares, nor shall there
be any sale of the Common Shares in any jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Wheaton Precious Metals Corp.
Wheaton Precious Metals is the world's premier precious metals
streaming company with the
highest-quality portfolio of long-life, low-cost assets. Its
business model offers investors leverage to commodity prices and
exploration upside but with a much lower risk profile than a
traditional mining company. Wheaton delivers amongst the highest
cash operating margins in the mining industry, allowing it to pay a
competitive dividend and continue to grow through accretive
acquisitions. As a result, Wheaton has consistently outperformed
gold and silver, as well as other mining investments. Wheaton is
committed to strong ESG practices and giving back to the
communities where Wheaton and its mining partners operate. Wheaton
creates sustainable value through streaming.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
This press release contains "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 securities legislation concerning
the offer and sale of Common Shares under the ATM Program,
including the timing and amounts thereof, and the use of any
proceeds from the ATM Program. These forward-looking statements are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Wheaton to be materially different from those
expressed or implied by such forward-looking statements including
but not limited to the risks discussed in the section entitled
"Description of the Business - Risk Factors" in Wheaton's Annual
Information Form available on SEDAR at www.sedar.com , and in
Wheaton's Form 40-F for the year ended December 31, 2022 filed on
the SEC's EDGAR system available at www.sec.gov (the
"Disclosure").
These forward-looking statements are based on assumptions
management currently believes to be reasonable, including (without
limitation): that there will be no material adverse change in the
market price of commodities, that Wheaton's mining operations (the
"Mining Operations") will continue to operate and the mining
projects will be completed in accordance with public statements and
achieve their stated production estimates, that the mineral reserve
and mineral resource estimates from Mining Operations (including
reserve conversion rates) are accurate, that each party will
satisfy their obligations in accordance with Wheaton's PMPAs, that
Wheaton will continue to be able to fund or obtain funding for
outstanding commitments, that Wheaton will be able to source and
obtain accretive PMPAs, that neither Wheaton nor the Mining
Operations will suffer significant impacts as a result of an
epidemic (including the COVID-19 virus pandemic), that any outbreak
or threat of an outbreak of a virus or other contagions or epidemic
disease will be adequately responded to locally, nationally,
regionally and internationally, without such response requiring any
prolonged closure of the Mining Operations or having other material
adverse effects on the Company and counterparties to its PMPAs,
that the trading of the Common Shares will not be adversely
affected by the differences in liquidity, settlement and clearing
systems as a result of multiple listings of the Common Shares on
the LSE, the TSX and the NYSE, that the trading of the Common
Shares will not be suspended, that the sale of Common Shares under
the ATM Program, if any, will not have a significant impact on the
market price of the Company's common shares and that the net
proceeds of sales of Common Shares, if any will be used as
anticipated, that expectations regarding the resolution of legal
and tax matters will be achieved (including ongoing audits by the
Canada Revenue Agency ("CRA") involving the Company), that Wheaton
has properly considered the interpretation and application of
Canadian tax law to its structure and operations, that Wheaton has
filed its tax returns and paid applicable taxes in compliance with
Canadian tax law, that Wheaton's application of the CRA tax
settlement for years subsequent to 2010 is accurate (including the
Company's assessment that there will be no material change in the
Company's facts or change in
law or jurisprudence), that Wheaton will remain in compliance
with the requirements of applicable securities law and stock
exchange listing rules in respect of the Common Shares, and such
other assumptions and factors as set out in the Disclosure. There
can be no assurance that forward-looking statements will prove to
be accurate and even if events or results described in the
forward-looking statements are realized or substantially realized,
there can be no assurance that they will have the expected
consequences to, or effects on, Wheaton. Readers should not place
undue reliance on forward-looking statements and are cautioned that
actual outcomes may vary. The forward-looking statements included
herein are for the purpose of providing readers with information to
assist them in understanding Wheaton's expected financial and
operational performance and may not be appropriate for other
purposes. Any forward looking statement speaks only as of the date
on which it is made, reflects Wheaton's management's current
beliefs based on current information and will not be updated except
in accordance with applicable securities laws. Although Wheaton has
attempted to identify important factors that could cause actual
results, level of activity, performance or achievements to differ
materially from those contained in forward--looking statements,
there may be other factors that cause results, level of activity,
performance or achievements not to be as anticipated, estimated or
intended.
For further information, please contact:
Patrick Drouin or Emma Murray
Wheaton Precious Metals Corp.
Tel: 1-844-288-9878
Email: info@wheatonpm.com
Website: www.wheatonpm.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAESNEAPDEAA
(END) Dow Jones Newswires
May 10, 2023 02:00 ET (06:00 GMT)
Wheaton Precious Metals (LSE:WPM)
Graphique Historique de l'Action
De Août 2023 à Sept 2023
Wheaton Precious Metals (LSE:WPM)
Graphique Historique de l'Action
De Sept 2022 à Sept 2023
