03:58 PM EDT, 05/14/2024 (MT Newswires) -- MAG Silver ( MAG ) , which earlier Tuesday reported first-quarter results, said shortly before the close of trade said filed a preliminary short form base shelf prospectus.

According to the latest statement, the filing is with the securities commissions in all of the provinces and territories of Canada. A corresponding registration statement will be filed with the United States Securities and Exchange Commission.

Upon the issuance of a receipt for the Final Shelf Prospectus and the filing of the Registration Statement with the SEC, the company will be permitted to offer up to US$250 million of common shares, preferred shares, debt securities, subscription receipts, units and warrants or any combination thereof during the 25-month period that the Prospectus is effective. The specific terms of any offering of securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement.

Securities may be offered under the Prospectus (and corresponding Registration Statement) separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and as set forth in an applicable prospectus supplement. No Securities may be sold, nor may offers to buy be accepted, prior to the time a receipt for the Final Shelf Prospectus has been issued and the Registration Statement has been filed with the SEC.

Earlier Tuesday, MAG said its first-quarter profit more than tripled on higher returns from its 44% stake in the Juanicipio silver mine in Mexico. The company said it earned US$14.9 million, or US$0.14 per share, up from US$4.71 million, or US$0.05, in the year-prior quarter.

MAG shares were last seen up C$0.59 to C$17.56 on the Toronto Stock Exchange.

Price: 17.57, Change: +0.60, Percent Change: +3.54