Date Closed

September 7, 2022

Lead Office

Vancouver

Value

135.00 Million USD

On July 5, 2022, Wheaton Precious Metals Corp. (“Wheaton”) announced that it entered into a definitive agreement with Hecla Mining Company (“Hecla”) to terminate its silver stream on Alexco Resource Corp.’s (“Alexco”) Keno Hill Silver District (“Keno Hill”) in the Yukon, Canada for US$135 million. As consideration for the termination of the Keno Hill silver stream, Hecla agreed to issue to Wheaton US$135 million of Hecla common shares. The termination of the Keno Hill silver stream was conditional upon Hecla completing its announced proposed acquisition of Alexco, together with other customary approvals. 

Concurrent with the acquisition by Hecla of Alexco by way of a plan of arrangement on September 7, 2022, Wheaton’s Keno Hill silver stream was terminated in exchange for US$135 million of Hecla common stock, in the form of 34,800,989 shares of Hecla common stock based on the 5-day VWAP of $3.88 per share.

Wheaton is one of the world's largest precious metals streaming companies based out of Vancouver, British Columbia.

McCarthy Tétrault assisted Wheaton with a team led by Roger Taplin that included Gary Litwack, Ainslie Hurd, Thomas Fung, Christopher Zawadzki and Christopher Langdon (Business).