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Wheaton Precious Metals Announces New Precious Metals Purchase Agreement with First Majestic in Conjunction with Primero's Sale of the San Dimas Mine
Wheaton Precious Metals Announces New Precious Metals Purchase Agreement with First Majest...
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[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Announces New Precious Metals Purchase Agreement with First Majestic in Conjunction with Primero's Sale of the San Dimas Mine\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 12, 2018\n\n\n\n\nTSX: WPMNYSE: WPM \n\n\n\nVANCOUVER, Jan. 12, 2018 /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") announces that its wholly owned subsidiary Wheaton Precious Metals International Ltd. (\"Wheaton International\") has agreed to a new precious metals purchase agreement (the \"First Majestic PMPA\") relating to the San Dimas mine, in conjunction with the proposed transaction announced today under which First Majestic Silver Corp. (\"First Majestic\") will acquire Primero Mining Corp. (\"Primero\") pursuant to a plan of arrangement (the \"Arrangement\"). \n\nWheaton International has agreed to terminate the existing San Dimas silver purchase agreement with Primero (the \"Existing SPA\") and enter into the First Majestic PMPA, which includes the following terms: \n\n\n25% of gold production plus an additional amount of gold equal to 25% of silver production converted to gold at a fixed gold to silver exchange ratio of 70:11 from San Dimas\nFor each ounce of gold delivered, Wheaton International will pay to First Majestic a production payment equal to the lesser of US$600/oz, subject to a 1% annual inflationary adjustment, and the prevailing market price\nFirst Majestic to provide a corporate guarantee; security to be limited to San Dimas assets\nArea of interest that is subject to the First Majestic PMPA remains unchanged from the Existing SPA2\n\nAs part of the transaction, in addition to the new stream Wheaton International will receive 20,914,5...