First Majestic Announces Voting Results from Annual General Meeting and Management Changes
May 24 2019 - 1:16PM
First Majestic Silver Corp. (“First Majestic” or the “Company”)
(New York – AG) (Toronto – FR) (Frankfurt – FMV) is pleased to
announce the voting results for its annual general meeting held on
May 23, 2019.
A total of 117,558,077 shares were represented
at the meeting, being 58.95% of the Company’s issued and
outstanding common shares. Shareholders approved all matters
brought before the meeting as follows:
ELECTION OF DIRECTORS
Director Nominee |
Votes For |
% For |
Votes Withheld |
% Withheld |
|
|
|
|
|
Keith Neumeyer |
61,716,991 |
99.14 |
538,491 |
0.86 |
Douglas Penrose |
61,502,080 |
98.79 |
753,402 |
1.21 |
Robert McCallum |
60,240,429 |
96.76 |
2,015,053 |
3.24 |
Marjorie Co |
61,608,896 |
98.96 |
646,586 |
1.04 |
David Shaw |
59,687,436 |
95.87 |
2,568,046 |
4.13 |
|
|
|
|
|
APPROVAL OF LONG TERM INCENTIVE
PLAN
Votes For |
% For |
Votes Against |
% Against |
|
|
|
|
56,677,798 |
91.04 |
5,577,683 |
8.96 |
|
|
|
|
SAY ON PAY ADVISORY VOTE
Votes For |
% For |
Votes Against |
% Against |
|
|
|
|
57,260,786 |
91.98 |
4,994,695 |
8.02 |
|
|
|
|
The re-appointment of Deloitte LLP as auditors
for the Company, the amendment to the Articles of the Company to
increase the quorum requirements and the ratification of the
amendments to the advance notice policy, as outlined in the
Circular were all approved by a majority vote of shareholders
present in person or represented by proxy.
MANAGEMENT CHANGES
In the ongoing effort to continually improve
operations and optimize plant processes to support the Company’s
primary focuses, which are; automation, information technology and
metallurgy, the Company has appointed Ramon Mendoza to the role of
interim Vice President of Operations, in addition to his
obligations as Vice President of Technical Services, following the
departure of Dustin VanDoorselaere who has held the position of
Chief Operating Officer since February 2017.
Mr. Mendoza is a senior mining professional with
29 years of experience with a robust background in the technical
aspects of mining and a successful track record in managing
underground and open-pit operations. Since joining First Majestic
in 2014, Mr. Mendoza has been the primary Qualified Person for the
Company and has been overseeing all special projects, mine planning
and technical reporting for Reserve and Resource estimations. Prior
to First Majestic, Mr. Mendoza was employed by AMEC as Principal
Mining Engineer leading the development of numerous front-end
studies, operational reviews and specialized services applying
advanced optimization techniques for underground and open-pit
mining projects. Prior to AMEC, Mr. Mendoza held various
operational positions in Mexico at Grupo Minero del Bravo, ORICA,
MICARE, and Minera Frisco in Sonora. Mr. Mendoza is a Professional
Engineer registered in British Columbia and holds a bachelors
degree in Mining and Metallurgy from the National University of
Mexico and a M.Sc. degree in Mining and Earth Systems Engineering
from the Colorado School of Mines.
In addition, Jose Hernandez has been promoted to
Vice President of Innovation, Processing & Metallurgy and will
be responsible for the performance of all plant processing,
smelting and refining operations. He will focus his efforts on
identifying, developing and implementing new strategies, business
opportunities and technologies intended to improved efficiencies.
Since joining First Majestic in 2016, Mr. Hernandez has been
responsible for all metallurgical matters and has played an
integral role in advancing the use of high-intensity grinding mills
and microbubble technologies. Prior to First Majestic, he held
roles in the area of metallurgy at Goldcorp and Teck Resources. He
graduated from the National Autonomous University of Mexico with a
bachelor’s degree in Chemical Engineering and a M.Eng. and PhD from
McGill University.
The Company would like to thank Dustin
VanDoorselaere for his contributions over the past two years and
wishes him the best on his future endeavours.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining
company focused on silver production in Mexico and is aggressively
pursuing the development of its existing mineral property assets.
The Company presently owns and operates the San Dimas Silver/Gold
Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver
Mine, the San Martin Silver Mine, the La Parrilla Silver Mine and
the Del Toro Silver Mine. Production from these mines are projected
to be between 14.2 to 15.8 million silver ounces or 24.7 to 27.5
million silver equivalent ounces in 2019.
FOR FURTHER INFORMATION contact
info@firstmajestic.com, visit our website at www.firstmajestic.com
or call our toll-free number 1.866.529.2807.
ON BEHALF OF THE BOARD OF FIRST MAJESTIC SILVER
CORP. “signed” Keith Neumeyer President & CEO
SPECIAL NOTE REGARDING FORWARD LOOKING
STATEMENTS
This news release includes certain
“Forward‐Looking Statements” of “forward looking information”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws, respectively. When used in this news release, the words
“anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”,
“forecast”, “may”, “schedule” and similar words or expressions,
identify forward‐looking statements or information. These
forward‐looking statements or information relate to, among other
things the adoption and purchase of shares under the Company’s
normal course issuer bid.
These statements reflect the Company’s current
views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or
may be expressed or implied by such forward‐looking statements or
information and the Company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: fluctuations in the market price of the
Company’s shares; fluctuations in the currency markets (such as the
Canadian dollar and Mexican peso versus the U.S. dollar); and the
Company’s cash flow and availability of alternate sources of
capital; and the factors identified under the caption “Risk
Factors” in the Company’s Annual Information Form, under the
caption “Risks Relating to First Majestic’s Business”.
Investors are cautioned against
attributing undue certainty to forward‐looking statements or
information. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
anticipated, estimated or intended. The Company does not intend,
and does not assume any obligation, to update these forward‐looking
statements or information to reflect changes in assumptions or
changes in circumstances or any other events affecting such
statements or information, other than as required by applicable
law.
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