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Silver Wheaton Contributes $1.5 Million to Streetohome Foundation for Supportive Housing for Homeless Women and Families

Silver Wheaton Contributes $1.5 Million to Streetohome Foundation for Supportive Housing for Homeless Women and Families

May 8, 2012, Vancouver – Today Streetohome Foundation is pleased to announce that it has received a significant contribution of $1.5 million from Silver Wheaton, in support of Streetohome’s $26.5 million capital campaign to break the cycle of homelessness in Vancouver. The donation is earmarked for a brand new development located at 606 Powell Street that will provide 147 units for women and their children, as well as single women who are currently homeless or living in sub-standard housing. This gift will assist with the challenges many women face in raising their children, and highlight the importance of keeping families together by providing services that help promote stability and well-being for the whole family.
 
“This generous donation from Silver Wheaton will go a long way in improving the lives of women-led families in this city,” said Frank Giustra, Streetohome Foundation Capital Campaign Chair. “Most homeless women with children report being displaced because of family breakdown or fleeing abuse, bringing light to the fact that, while the general belief is that most people living on the streets are single women or men, mothers with children are one of the fastest growing segments of the homeless population. Silver Wheaton’s investment will make a huge difference in our ability to provide appropriate, supportive housing for this vulnerable population.”

This new building will provide 147 new units with integrated support services for women and women-led families who are homeless or at risk of homelessness. The building is funded through a partnership between the Province of B.C., the City of Vancouver through land, and Streetohome Foundation’s $26.5 million capital campaign, which will also support a number of other supportive housing projects in Vancouver.

Through the company’s many charitable donations and sponsorships, Silver Wheaton is committed to giving back to the communities where it is located and where it does business.

“We are pleased to be working with Streetohome Foundation, which provides support, and hope for a better future, to some of our community’s most vulnerable citizens,” said Randy Smallwood, President and CEO of Silver Wheaton. “Silver Wheaton is committed to helping in the efforts to reduce Vancouver’s homeless population. By providing deserving families and single women with the safety and security of their own home, this project represents a sustainable foundation that opens the opportunity to build a better life.”

The Powell Street development will be operated by RainCity Housing. RainCity Housing will provide women-led families with access to childcare and support services, medical and mental health services, peer-group programs and support, community kitchen and family nights, and a Parent Resource Centre. Single women will receive access to community medical and mental health services as well as supportive peer support groups.

“Many of the women in our program at 606 Powell Street will be escaping from family violence, moving on from inadequate housing, or needing to become part of a healthy community.” said Mark Smith, Executive Director of RainCity Housing. “For many of the women, the support and services they will receive – possibly for the first time in their lives - will provide the basis for stable and successful lives.”

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About the partners:

About Streetohome Foundation:

Streetohome Foundation is a community organization working to ensure that all citizens of Vancouver have access to safe, decent, affordable, supportive housing. We bring together business, government, service providers and community leaders to build resources and develop lasting solutions to homelessness. Current initiatives include funding and facilitating housing for individuals who are chronically homeless, people who require housing with supports, and for mothers with children. Visit www.streetohome.org for more information.

About Silver Wheaton:

Silver Wheaton is the largest silver streaming company in the world. Based upon its current agreements, forecast 2012 attributable production is approximately 27 million silver equivalent ounces, including 16,500 ounces of gold. By 2016, annual attributable production is anticipated to increase significantly to approximately 43 million silver equivalent ounces, including 35,000 ounces of gold. This growth is driven by the Company's portfolio of world-class assets, including silver streams on Goldcorp's Peñasquito mine and Barrick's Pascua-Lama project. Silver Wheaton is committed to operating as a good corporate citizen and to giving back to the communities where its employees live and do business. The company supports a variety of worthy organizations through charitable donations and sponsorships, both in Canada and abroad. Please visit www.silverwheaton.com for more information.

About RainCity Housing:

RainCity Housing and Support Society is a grassroots organization built around compassion, purpose and a commitment to delivering progressive housing and support solutions for people living with mental illness, addictions and other challenges. Since 1982, RainCity Housing has provided shelter and housing for thousands of people in the Lower Mainland. RainCity Housing is an independent, non-political, non-religious, charitable organization based in the Lower Mainland. For more information, please visit: www.raincityhousing.org.

Media contacts:
Christina Panagio
Streetohome Foundation
604‐629‐2711
christinap@streetohome.org

Teya Aasen
Silver Wheaton
604-639-9870
teya.aasen@silverwheaton.com