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Pan American releases Maverix shares

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(Kitco News) - Pan American Silver (TSX:PAAS) announced Thursday that it will undertake an overnight marketed public offering of 9 million common shares of Maverix Metals (TSX:MMX) currently held by Pan American.

Upon exercise, Maverix would receive proceeds of approximately US$15.6 million and upon completion of the Secondary Offering, Pan American would continue to own 26,833,500 common shares of Maverix, representing an approximately 21.0% ownership interest in Maverix.

Maverix is a gold-focused royalty and streaming company.

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