MAG Silver Announces US$50M At-The-Market Offering


Vancouver, BC — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG Silver” or the “Company”) is pleased to announce it has entered into a sales agreement dated June 29, 2020 (the “Sales Agreement”) with Raymond James & Associates (the “Lead Agent”), Canaccord Genuity (together with the Lead Agent, the “Selling Agents”), BMO Capital Markets, H.C. Wainwright & Co., Roth Capital Partners and TD Securities  (together, the “Agents”) pursuant to which MAG Silver may, at its discretion and from time-to-time during the term of the Sales Agreement, sell in the United States, through the Agents, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US$50 million (the “Offering”). Sales of Common Shares will be made through “at-the-market distributions” as defined in the Canadian Securities Administrators’ National Instrument 44-102-Shelf Distributions, including sales made directly on the NYSE American, or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in the United States. The sales, if any, of Common Shares made under the Sales Agreement will be made by means of ordinary brokers’ transactions on the NYSE American at market prices, or as otherwise agreed upon by MAG Silver and the Agent. Under the Sales Agreement, no offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange (the “TSX”) or other trading markets in Canada.

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