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Silver Wheaton to raise further US$82.5M via bought-deal financing

The syndicate of underwriters for Silver Wheaton Corp.'s bought deal public offering to raise about US$550 million will exercisetheir overallotment option in full, increasing the gross proceeds by a further US$82.5million.

The company will now raise total gross proceeds of US$632.5 millionwith the issue of an additional 4,970,250 common shares at US$16.60 per share, itsaid April 11.

Silver Wheaton intends to use the net proceeds to repay a portionof the debt that was drawn on its US$2 billion revolving credit facility in November2015 for the US$900 million purchaseof the silver stream on the Antaminacopper mine in Peru.

The offering was led by RBC Capital Markets, BMO Capital Markets,CIBC Capital Markets and Scotiabank.