Pan American Silver raises its stake in Galleon Gold to about 15.6% of outstanding shares
Pan American Silver Corp. bought 6,250,000 common shares of Galleon Gold Corp. at C$1.12 per share in a private placement, bringing its total holding to roughly 15.6% on a non‑diluted basis and 27.3% on a partially‑diluted basis. The purchase follows an earlier C$8 million convertible debenture issued to Pan American in August 2025. The company said the acquisition is for investment purposes and it may buy or sell additional Galleon securities in the future.
Why it matters
The transaction increases Pan American’s exposure to Galleon Gold, so investors in PAAS will see a larger share of Galleon’s future performance in Pan American’s balance sheet. The company may convert the debenture or exercise warrants, which could further raise its ownership to up to 27.3% on a fully diluted basis, according to the company’s filing.
Key facts
- 1Pan American purchased 6,250,000 Galleon common shares at C$1.12 per share. stocktitan.net
- 2The purchase raised Pan American’s stake to approximately 15.6% of Galleon’s outstanding shares on a non‑diluted basis. stocktitan.net
- 3The stake represents about 27.3% on a partially‑diluted basis. stocktitan.net
- 4Pan American previously held an unsecured convertible debenture of C$8,000,000 issued on August 13, 2025. stocktitan.net
- 5If the debenture and warrants are exercised, Pan American could own up to 53,227,543 Galleon shares, representing 19.6% (fully diluted) and 27.3% (partially diluted). stocktitan.net
- 6Galleon raised approximately C$29.5 million in a private placement concurrent with the acquisition. timminspress.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.