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Silver Wheaton to purchase silver from Glencore for US$245 million

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The Bank of Nova Scotia

On March 23, 2006, public mining company Silver Wheaton Corp., entered into an agreement with Glencore International AG to purchase 4.75 million ounces of silver per year, for a period of 20 years. As part of this agreement, Silver Wheaton will provide an upfront payment which includes US$245 million in cash, to be financed in part with a US$125 million credit facility provided by The Bank of Nova Scotia. Fasken Martineau lawyers John Torrey and Tom Meagher represented The Bank of Nova Scotia.



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