First Majestic Completes Acquisition of
Ticker Symbol: C:FR U:AG X:FRANKFURT:FMV C:SLX U:GGCRF
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 07/03/12
First Majestic Silver Corp. ("First Majestic")
(TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Silvermex Resources Inc.
("Silvermex") (TSX:SLX)(OTCBB:GGCRF)(FRANKFURT:GSBN) are pleased to
announce the completion of the plan of arrangement (the
"Arrangement") previously announced in the joint news release of
First Majestic and Silvermex dated April 3, 2012.
Under the arrangement, First Majestic has acquired all of the
issued and outstanding common shares of Silvermex. Shareholders of
Silvermex will receive 0.0355 First Majestic shares and CDN$0.0001
for each held share of Silvermex.
Keith Neumeyer, President and CEO of First Majestic said,
"I would like to take this opportunity to
personally welcome Silvermex shareholders into the First Majestic
family. The acquisition of Silvermex marks the third
public company First Majestic has acquired over the past six
years. Our shareholders have experienced great success by
supporting our corporate strategy of purchasing undervalued
silver properties with a focus of unlocking the true
potential of the asset through continuous exploration and
With the Arrangement now complete, shares of Silvermex are
anticipated to be delisted from the TSX effective at the close of
business on July 6, 2012. Shareholders of Silvermex will receive
shares of First Majestic and cash to which they are entitled upon
delivery to Computershare Trust Company of Canada ("Computershare")
of their Silvermex share certificates and completed letters of
transmittal together with other required documents. Shareholders
are encouraged to contact Computershare for further information
concerning the exchange process.
ABOUT FIRST MAJESTIC
First Majestic is a producing silver company focused on silver
production in Mexico and is aggressively pursuing its business plan
of becoming a senior silver producer through the development of its
existing mineral property assets and the pursuit through
acquisition of additional mineral assets which contribute to First
Majestic achieving its aggressive corporate growth objectives.
ON BEHALF OF THE BOARD OF FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
ON BEHALF OF THE BOARD OF SILVERMEX RESOURCES INC.
Duane Nelson, CEO & Director