Silver Wheaton Initiates Normal Course Issuer Bid For Its Common Shares

(RTTNews) - Pure precious metals streaming company Silver Wheaton Corp. (SLW, SLW.TO) announces that it intends to make a normal course issuer bid or NCIB, to purchase up to 20.23 million of its common shares on the Toronto Stock Exchange and New York Stock Exchange.

This will be that company's first ever initiation for a normal course issuer bid for its shares.

The NCIB has been approved by the Company's board of directors. However, it is subject to acceptance by the TSX and, if accepted, will be made in accordance with the applicable rules and policies of the TSX and the NYSE, and applicable Canadian and U.S. securities laws.

Under the NCIB, up to 20,229,671 Common Shares, representing 5 percent of the total outstanding Common Shares as of September 11, 2015, may be purchased on the TSX and the NYSE over a period of twelve months commencing after TSX approval.

The actual number of Common Shares which may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors including other options to expand our portfolio of assets.