First Majestic announces Exercise and Closing of Over-Allotment Option
February 15 2018 - 10:19AM
First Majestic Silver Corp. (TSX:FR)(NYSE:AG)(Frankfurt:FMV)
(“
First Majestic” or the
“
Company”) announced today the issuance of US$6.5
million aggregate principal amount of 1.875% unsecured convertible
senior notes due 2023 (the “
Over-Allotment Notes”)
pursuant to the exercise in part of the over-allotment option
granted to the initial purchasers in connection with the previously
announced offering of US$150 million aggregate principal amount of
1.875% unsecured convertible senior notes due 2023 (the
“
Initial Notes”) which closed on January 29, 2018.
The Over-Allotment Notes have the same terms as the Initial Notes,
including an initial conversion rate of 104.3297 common shares
(“
Shares”) per US$1,000 principal amount of
Over-Allotment Notes, equivalent to an initial conversion price of
approximately US$9.59 per Share.
This news release is neither an offer to sell
nor the solicitation of an offer to buy the Over-Allotment Notes or
any other securities and shall not constitute an offer to sell or
solicitation of an offer to buy, or a sale of, the Over-Allotment
Notes or any other securities in any jurisdiction in which such
offer, solicitation or sale is unlawful.
About the Company
First Majestic is a mining company focused on
growing primary silver production in Mexico and is aggressively
pursuing the development of its existing mineral property assets.
The Company presently owns and operates six producing silver mines;
the La Parrilla Silver Mine, the San Martin Silver Mine, the La
Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver
Mine and the Santa Elena Silver/Gold Mine. Production from these
six mines is projected to be between 10.6 to 11.8 million ounces of
pure silver or 15.7 to 17.5 million ounces of silver equivalents in
2018.
For further information contact
info@firstmajestic.com or call Investor Relations at
1-866-529-2807.FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO
Forward Looking Statements
This press release contains “forward-looking
statements”, within the meaning of the United States Private
Securities Litigation Reform Act of 1995 or forward looking
information within the meaning of applicable Canadian securities
legislation, concerning the business, operations and financial
performance and condition of First Majestic. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of First Majestic to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the integration of acquisitions; risks related to
international operations; actual results of current exploration
activities; actual results of current reclamation activities;
conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of metals; possible
variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities, as well as those factors
discussed in the section entitled “Description of Business - Risk
Factors” in First Majestic’s Annual Information Form for the year
ended December 31, 2016, available on www.sedar.com, and Form 40-F
on file with the United States Securities and Exchange Commission
in Washington, D.C. Although First Majestic has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. First Majestic does not
undertake to update any forward-looking statements, except in
accordance with applicable securities laws.
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