-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BD3KoZqq6i7VlIjFzFRp9LYBWbglNo/V1dLRxffJzWcl8zk1lYOL80t54fPEvH7e adqmQxCvoaSKK/7gcwsLBA== 0001019056-09-001032.txt : 20091019 0001019056-09-001032.hdr.sgml : 20091019 20091019090230 ACCESSION NUMBER: 0001019056-09-001032 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20091019 DATE AS OF CHANGE: 20091019 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PARAMOUNT GOLD & SILVER CORP. CENTRAL INDEX KEY: 0001342854 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 203690109 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-82202 FILM NUMBER: 091124672 BUSINESS ADDRESS: STREET 1: 346 WAVERLY STREET CITY: OTTAWA STATE: A6 ZIP: K2P 0W5 BUSINESS PHONE: (613) 226-9881 MAIL ADDRESS: STREET 1: 346 WAVERLY STREET CITY: OTTAWA STATE: A6 ZIP: K2P 0W5 FORMER COMPANY: FORMER CONFORMED NAME: PARAMOUNT GOLD MINING CORP. DATE OF NAME CHANGE: 20051028 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FCMI FINANCIAL CORP ET AL CENTRAL INDEX KEY: 0000931301 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: BCE PLACE STREET 2: 181 BAY STREET SUITE 250 CITY: TORONTO CANADA STATE: A6 MAIL ADDRESS: STREET 1: BCE PLACE STREET 2: 181 BAY STREET SUITE 250 CITY: TORONTO CANADA STATE: A6 SC 13D/A 1 paramount_13da6.htm FORM 13D/A 6

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Amendment No. 6)

Under the Securities Exchange Act of 1934

PARAMOUNT GOLD AND SILVER CORP.

(Name of Issuer)

Common Stock, $0.001 Par Value

(Title of Class of Securities)

69924P102

(CUSIP Number)

Robert A. Grauman, Esq.
Baker & McKenzie LLP
1114 Avenue of the Americas
New York NY 10036
(212) 626-4100

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

October 15, 2009

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 69924P102

1.	Names of Reporting Persons. FCMI FINANCIAL CORPORATION

2.	Check the Appropriate Box if a Member of a Group (See Instructions)			(a) ¨ (b) ¨

3.	SEC Use Only


4.	Source of Funds (See Instructions) WC


5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)				¨

6.	Citizenship or Place of Organization ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power -0-

		8.	Shared Voting Power 28,000,000

		9.	Sole Dispositive Power -0-


		10.	Shared Dispositive Power 28,000,000

11.	Aggregate Amount Beneficially Owned by Each Reporting Person 28,000,000


12.	Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares				¨

13.	Percent of Class Represented by Amount in Row (11) 24.7%

14.	Type of Reporting Person CO


CUSIP No. 69924P102

1.	Names of Reporting Persons. ALBERT D. FRIEDBERG

2.	Check the Appropriate Box if a Member of a Group (See Instructions)			(a) ¨ (b) ¨

3.	SEC Use Only


4.	Source of Funds (See Instructions) AF


5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)				¨

6.	Citizenship or Place of Organization CANADA

Number of Shares Beneficially Owned by Each Reporting Person With		7.	Sole Voting Power -0-

		8.	Shared Voting Power 28,000,000

		9.	Sole Dispositive Power -0-


		10.	Shared Dispositive Power 28,000,000

11.	Aggregate Amount Beneficially Owned by Each Reporting Person 28,000,000


12.	Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares				¨

13.	Percent of Class Represented by Amount in Row (11) 24.7%

14.	Type of Reporting Person IN

The Statement on Schedule 13D dated and filed March 23, 2009, as amended by Amendment No. 1 dated and filed May 28, 2009, Amendment No. 2 dated and filed July 21, 2009, Amendment No. 3 dated and filed August 6, 2009, Amendment No. 4 dated and filed August 6, 2009 and Amendment No. 5 dated and filed September 23, 2009 (as so amended, the “Statement”), filed by FCMI Financial Corporation, a corporation existing under the laws of the province of Ontario, Canada (“FCMI”), and Albert D. Friedberg (collectively with FCMI, the “Filing Persons”), relating to the common stock, $0.001 par value (the “Common Shares”), of Paramount Gold and Silver Corp., a Delaware corporation (the “Issuer”), is hereby amended with respect to the items set forth below in this Amendment No. 6. Capitalized terms used herein without definition have the same meanings as those ascribed to them in the Statement.


Item 3.	Source and Amount of Funds or Other Consideration

Item 3 of the Statement is hereby amended by the addition of the following information:

The total purchase price for the 4,000,000 Common Shares of the Issuer purchased by FCMI and reported herein was US$5,000,000. FCMI utilized funds from its working capital to make the purchase. The Common Shares were acquired by FCMI from the underwriters in an underwritten public offering at the public offering price.


Item 4.	Purpose of Transaction

Item 4 of the Statement is hereby amended by the addition of the following information:

FCMI acquired the additional Common Shares reported in this Schedule 13D (Amendment No. 6) for investment and to maintain FCMI’s approximate proportionate percentage beneficial ownership interest in the Issuer, after giving effect to the Issuer’s public offering of 18,400,000 Common Shares, including 2,400,000 Common Shares issued upon exercise of an overallotment option granted by the Issuer to the underwriters of the offering. FCMI purchased such additional Common Shares pursuant to its previously disclosed commitment to provide the Issuer with between CDN $5 million and CDN $15 million in financing to fund future development projects of the Issuer.


Item 5.	Interest in Securities of the Issuer

Item 5 is amended and restated to read in its entirely as set forth below:

On October 15, 2009, FCMI purchased 4,000,000 Common Shares at a purchase price of US$1.25 per share. The Shares were purchased from the underwriters in a public offering conducted by the Issuer, at the public offering price per share.

On the date of this Schedule 13D (Amendment No. 6), FCMI is the record and beneficial owner of 28,000,000 Common Shares, constituting approximately 24.7% of the Issuer’s issued and outstanding Common Shares. Such percentage beneficial ownership has been determined in accordance with Rule 13d-3(d)(1)(i) under the Securities Exchange Act of 1934, as amended (the “1934 Act”) as if 113,423,650 Common Shares were outstanding. Common Shares outstanding was computed by adding the 12,000,000 Common Shares issuable upon exercise of the Warrants owned by FCMI to 101,423,650 Common Shares actually outstanding (83,023,650 Common Shares issued and outstanding as of June 30, 2009, as reported by the Issuer in its prospectus supplement dated October 8, 2009 and 18,400,000 Common Shares issued in its underwritten public offering). Of such 28,000,000 Common Shares beneficially owned by FCMI, 16,000,000 Common Shares are presently outstanding and owned by FCMI and 12,000,000 Common Shares are issuable upon exercise of the Warrants. Mr. Friedberg, directly and through his control over FCMI shares held by members of his family and trusts for the benefit of members of his family, may be considered the ultimate beneficial owner of all of the Common Shares beneficially owned by FCMI. Except for such beneficial ownership by Albert D. Friedberg, none of the directors or officers of FCMI beneficially owns any Common Shares. Except as reported in this Schedule 13D (Amendment No. 6), neither FCMI nor any of its officers or directors has effected any transactions in the Issuer’s securities during the 60 days preceding the filing of this Schedule 13D (Amendment No. 6).


Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6 is amended by the addition of the following information:

In connection with its purchase of the Common Shares reported in this Schedule 13D (Amendment No. 6), on October 7, 2009 FCMI entered into a letter agreement (the “Lockup Agreement”) pursuant to which FCMI has agreed that, for a period of 90 days from October 8, 2009 (the date of the final prospectus supplement for the public offering in which FCMI acquired the Common Shares reported herein), FCMI will not, without the prior written consent of Dahlman Rose & Company, LLC, directly or indirectly, offer, sell, agree to offer or sell, solicit offers to purchase, grant any call option or purchase any put option with respect to, pledge, borrow or otherwise dispose of any Common Shares or any securities convertible into or exchangeable for Common Shares, and will not establish or increase any “put equivalent position” or liquidate or decrease any “call equivalent position” with respect to any Common Shares or any securities convertible into or exchangeable for Common Shares (in each case within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder), or otherwise enter into any swap, derivative or other transaction or arrangement that transfers to another, in whole or in part, any economic consequence of ownership of any of Common Shares or any securities convertible into or exchangeable for Common Shares. Such 90-day period may be extended for up to 34 additional days if the Issuer makes a public announcement of certain events prior to expiration of the lockup period.

The foregoing description of the Lockup Agreement in this Item 6 is qualified in its entirety by reference to the full text of said agreement, a copy of which has been filed as an exhibit to this Schedule 13D (Amendment No. 6).

Also in connection with its purchase of the Common Shares reported in this Schedule 13D (Amendment No. 6), FCMI and the Issuer amended the Support Agreement between them dated August 5, 2009 to release FCMI from the restrictions on disposition of the Common Shares set forth therein. The Support Agreement relates to the Issuer’s proposed acquisition of Klondex Mines Ltd. (“Klondex”) pursuant to a binding letter agreement between the Issuer and Klondex. On September 24, 2009, the Issuer announced that Klondex had informed the Issuer that Klondex had elected not to go forward with the combination of the Issuer and Klondex. The Issuer also announced that it would seek to enforce Klondex’s obligation to pay the Issuer a US$2.85 million “break fee” under the acquisition letter agreement. A copy of which the amendment to the Support Agreement been filed as an exhibit to this Schedule 13D (Amendment No. 6).


Item 7.	Material to be Filed as Exhibits

The list of Exhibits in Item 7 is amended by the addition of the following exhibits:


Exhibit No.		Exhibit


99.8		Lockup Agreement dated October 7, 2009 from FCMI Financial Corporation to Dahlman Rose & Company, LLC.

99.9		Letter Agreement dated October 8, 2009 between FCMI Financial Corporation and the Issuer amending the Support Agreement dated August 5, 2009 between FCMI Financial Corporation and the Issuer.

Signature

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: October 19, 2009


	FCMI FINANCIAL CORPORATION

	By:	/s/ Henry Fenig

	Name: Henry Fenig
	Title: Executive Vice President

	/s/ Albert D. Friedberg

	Albert D. Friedberg

EX-99.8 2 ex99_8.htm EXHIBIT 99.8

Exhibit 99.8

(FCMI FINANCIAL CORPORATION LOGO)

October 7, 2009

Dahlman Rose & Company, LLC
As Representative of the several
Underwriters referred to below

Paramount Gold and Silver Corp. Lock-Up Agreement

Ladies and Gentlemen:

This letter agreement (this “Agreement”) relates to the proposed public offering (the “Offering”) by Paramount Gold and Silver Corp., a Delaware corporation (the “Company”), of its common stock, $0.001 par value per share (the “Stock”).

In order to induce you and the other underwriters for which you act as representative (the “Underwriters”) to underwrite the Offering, the undersigned hereby agrees that, without the prior written consent of Dahlman Rose & Company, LLC (the “Lead Manager”), during the period from the date hereof until ninety (90) days from the date of the final prospectus for the Offering (the “Lock-Up Period”), the undersigned (a) will not, directly or indirectly, offer, sell, agree to offer or sell, solicit offers to purchase, grant any call option or purchase any put option with respect to, pledge, borrow or otherwise dispose of any Relevant Security (as defined below), and (b) will not establish or increase any “put equivalent position” or liquidate or decrease any “call equivalent position” with respect to any Relevant Security (in each case within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder), or otherwise enter into any swap, derivative or other transaction or arrangement that transfers to another, in whole or in part, any economic consequence of ownership of a Relevant Security, whether or not such transaction is to be settled by delivery of Relevant Securities, other securities, cash or other consideration. As used herein “Relevant Security” means the Stock, any other equity security of the Company or any of its subsidiaries and any security convertible into, or exercisable or exchangeable for, any Stock or other such equity security. Notwithstanding the foregoing, the undersigned may transfer Relevant Securities by bona fide gift, will or intestate succession, provided, each resulting transferee of Relevant Securities executes and delivers to you an agreement satisfactory to you certifying that such transferee is bound by the terms of this Agreement and has been in compliance with the terms hereof since the date first above written as if it had been an original party hereto.

Notwithstanding the preceding paragraph, if (1) during the last 17 days of the Lock-Up Period the Company issues an earnings release or material news or a material event relating to the Company occurs; or (2) prior to the expiration of the Lock-Up Period the Company announces that it will release earnings results during the 16-day period beginning on the last day of the Lock-Up Period, the restrictions imposed by the immediately preceding paragraph shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event, as applicable, unless the Lead Manager waives, in writing, such extension. The undersigned acknowledges that the Company has agreed in the underwriting agreement for the Offering to provide notice to the undersigned of any event that would result in an extension of the Lock-Up Period pursuant to this paragraph, and the undersigned agrees that any such notice properly delivered will be deemed to have been given to, and received by, the undersigned.

The undersigned hereby authorizes the Company during the Lock-Up Period to cause any transfer agent for the Relevant Securities to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, Relevant Securities for which the undersigned is the record holder and, in the case of Relevant Securities for which the undersigned is the beneficial but not the record holder, agrees during the Lock-Up Period to cause the record holder to cause the relevant transfer agent to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, such Relevant Securities. The undersigned hereby further agrees that, without the prior written consent of the Lead Manager, during the Lock-up Period the undersigned (x) will not file or participate in the filing with the Securities and Exchange Commission of any registration statement, or circulate or participate in the circulation of any preliminary or final prospectus or other disclosure document with respect to any proposed offering or sale of a Relevant Security and (y) will not exercise any rights the undersigned may have to require registration with the Securities and Exchange Commission of any proposed offering or sale of a Relevant Security.

The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Agreement and that this Agreement constitutes the legal, valid and binding obligation of the undersigned, enforceable in accordance with its terms. Upon request, the undersigned will execute any additional documents necessary in connection with enforcement hereof. Any obligations of the undersigned shall be binding upon the successors and assigns of the undersigned from the date first above written.

This Agreement shall be governed by and construed in accordance with the laws of the State of New York. Delivery of a signed copy of this letter by facsimile transmission shall be effective as delivery of the original hereof.

[signature page follows]


	Very truly yours,

	FCMI FINANCIAL CORPORATION

	By:	/s/ Henry Fenig


	Print Name: Henry Fenig, Executive Vice President

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Exhibit 99.9

PARAMOUNT GOLD AND SILVER CORP.
346 Waverley Street, Suite 110
Ottawa, ON Canada K2P 0W5

October 15, 2009

FCMI Financial Corporation
BCE Place
181 Bay Street, Suite 250
Toronto, Ontario M5J 2T3
Canada
Attn: Henry Fenig

Gentlemen:

We refer to the Support Agreement dated as of August 5, 2009 between Paramount Gold and Silver Corp. (“Paramount”) and FCMI Financial Corporation (the “Shareholder”). Capitalized terms used in this letter have the respective meanings assigned to them in the Support Agreement.

In consideration of the sum of $1.00 paid by each of the parties to this letter to the other, and other good and valuable consideration, receipt and sufficiency of which are hereby acknowledged, Paramount and Shareholder agree that Section 4 of the Support Agreement shall, effective upon signature of this letter, be null and void. Paramount hereby releases the Shareholder from any and all obligations whatsoever imposed by or arising out of Section 4 of the Support Agreement. This release shall be effective with respect to the “Shares” and any “New Shares” that may be acquired by the Shareholder.

Except as set forth in this letter, the Support Agreement remains in effect.

Please confirm your agreement with the foregoing by countersigning this letter below and returning it to the undersigned.


	Very truly yours,

	PARAMOUNT GOLD AND SILVER CORP.

	By:	/s/ Chris Crupi

		Chris Crupi
		President and CEO


CONFIRMED

FCMI FINANCIAL CORPORATION

By:	/s/ Henry Fenig

	Henry Fenig
	Executive Vice President

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