PAS.- Pricing Of Secondary Offering

Pan American Silver_29052020

May 29, 2020, Vancouver, British Columbia – Maverix Metals Inc. (NYSE American & TSX: MMX) (the “Company” or “Maverix”) and Pan American Silver Corp. (NASDAQ & TSX: PAAS) (“Pan American”) are pleased to announce that further to the previously announced overnight marketed secondary offering of common shares of Maverix held by Pan American (the “Common Shares”), they have entered into an underwriting agreement with a syndicate of underwriters co-led by Raymond James Ltd., as sole bookrunner, and PI Financial Corp., and including National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and Stifel GMP (collectively, the “Underwriters”), to sell 9,000,000 Common Shares (the “Secondary Offering”) at a price of US$4.40 per Common Share (the “Offering Price”) for gross proceeds of US$39,600,000. Pan American has granted the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days following the closing of the Secondary Offering, to purchase up to an additional 1,350,000 Common Shares of Maverix currently held by Pan American at the Offering Price. If the Over-Allotment Option is exercised in full, the total gross proceeds to Pan American will be US$45,540,000.

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