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VANCOUVER, BC, May 12, 2021 /PRNewswire/ - Wheaton Precious
Metals Corp. ("Wheaton" or "the Company") announced today that the
Company has filed a new prospectus supplement in connection with
its existing at-the-market equity program ("ATM Program") that
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) in 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 intends to use the net proceeds from the ATM Program, if
any, for funding precious metals purchase agreements ("PMPAs")
and/or other general corporate purposes, including the repayment of
indebtedness. To date, no Common Shares have been issued through
the ATM program.
Sales of Common Shares through the ATM Program will be made
pursuant to the terms of an ATM equity offering sales agreement
dated April 16, 2020, as amended on
May 12, 2021 (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, Scotiabank, MUFG and Mizuho Securities (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.
The ATM Program is being conducted pursuant to a prospectus
supplement dated May 12, 2021 (the
"Canadian Prospectus Supplement") to the Company's Canadian base
shelf prospectus dated April 22, 2021
(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 12,
2021 (the "U.S. Prospectus Supplement") to the Company's
U.S. base prospectus dated April 22,
2021 (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 Canadian Prospectus Supplement, the Canadian Shelf
Prospectus and the Sales Agreement (including the amending
agreement) may be downloaded from SEDAR at www.sedar.com, and
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 M5J 2V8
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, 8th 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 Scotia Plaza, 62nd Floor, 40 King Street
West, Toronto, Ontario M5H 3Y2,
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 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, attn: Prospectus Department or by
email at dg.prospectus_requests@bofa.com.
BMO Capital Markets by mail at 3 Times Square, 25th Floor,
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 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 commodity price leverage 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
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, 2020 filed on the SEC's EDGAR system
available at www.sec.gov (the "Disclosure"). 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 neither Wheaton nor the Mining Operations will suffer
significant impacts as a result of an epidemic (including the
COVID-19 virus pandemic), that 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 the 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 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 Company's 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
Company's common shares will not be suspended, that the sale of
Common Shares under the ATM Program 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 class action
litigation and CRA audits 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 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 for years subsequent to 2010), 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.
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SOURCE Wheaton Precious Metals Corp.