VANCOUVER, July 6, 2016 /CNW/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) (“Great Panther”; the “Company”) announces that it has entered into an underwriting agreement dated July 6, 2016 (the “Underwriting Agreement”) with Cantor Fitzgerald Canada Corporation and Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, as joint bookrunners, and Euro Pacific Capital, Inc. and Sprott Private Wealth LP, as co-managers (collectively, the “Underwriters”), to purchase, on a bought deal basis, 12,500,000 units of the Company (the “Units”) at the price of US$1.60 per Unit (the “Issue Price”) for aggregate gross proceeds of US$20 million (the “Offering”). Each Unit consists of one common share in the capital of Great Panther (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Share at the exercise price of US$2.25 per Share for a period of 18 months after the closing of the Offering.