First Majestic Acquires Shares in GR Silver - Early Warning
March 27 2020 - 2:00PM
First Majestic Silver Corp. (TSX:FR) (the “Company” or “First
Majestic”) announced today that it has acquired (the "Acquisition")
an aggregate of 17,097,500 common shares ("Shares") in the capital
of GR Silver Mining Ltd. (TSXV:GRSL) ("GR Silver"). Such Shares
were issued to First Majestic as partial consideration for the
purchase by GR Silver of 100% of the issued and outstanding shares
of First Majestic’s wholly-owned subsidiary, Minera La Rastra S.A.
de C.V, which owns the Plomosas project in Sinaloa, Mexico.
Immediately before completion of the
Acquisition, the Company held no Shares. Following completion of
the Acquisition, the Company held 17,097,500 Shares, representing
19.9% of the issued and outstanding Shares on a non-diluted
basis.
The Company has no present intention of
acquiring additional securities of GR Silver. In accordance with
applicable securities laws, the Company may, from time to time and
at any time, acquire additional common shares and/or other equity,
debt or other securities or instruments (collectively,
“Securities”) of GR Silver in the open market or otherwise, and
reserves the right to dispose of any or all of its Securities in
the open market, subject to certain certain voluntary resale
restrictions, or otherwise at any time and from time to time,
depending on market conditions, the business and prospects of GR
Silver and other relevant factors.
This news release is being issued pursuant to
Part 3 of National Instrument 62-103 – The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues of the Canadian
Securities Administrators. GR Silver is located at Suite 900 – 999
West Hastings Street, Vancouver, British Columbia, V6C 2W2. A copy
of the Company's early warning report will appear on GR Silver's
profile on SEDAR at www.sedar.com.
FIRST MAJESTIC SILVER CORP.“signed”Keith
Neumeyer, President & CEO
|
FIRST MAJESTIC SILVER CORP. |
Suite 1800 – 925 West Georgia Street |
Vancouver, B.C., Canada V6C 3L2 |
Telephone: (604) 688-3033 Fax: (604) 639-8873 |
Toll Free: 1-866-529-2807 |
Web site: www.firstmajestic.com; E-mail:
info@firstmajestic.com |
|
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