First Majestic Files Preliminary Short Form Prospectus
March 28, 2007
FIRST MAJESTIC SILVER CORP. (FR-V) (the “Company”) announces that it has
filed a preliminary short form prospectus dated March 27, 2007 with the
securities regulatory authorities in each of the Provinces of Canada,
other than Quebec, in connection with an underwritten offering of
On March 21, 2007, the Company announced that it had entered into an
agreement with several Canadian underwriters (the “Underwriters”)
pursuant to which the Underwriters agreed to purchase 8,000,000 Units on
an underwritten basis at a price of $5.00 per Unit (the “Issue Price”)
for aggregate proceeds to the Company of $40 million. The Underwriters
have been granted an over-allotment option to purchase, for market
stabilization purposes, an additional 1,200,000 Units, for an additional
$6 million in proceeds, at the Issue Price at any time prior to the
closing date. Each Unit will entitle the holder to acquire one common
share and one-half of one common share purchase warrant. Each whole
common share purchase warrant will be exercisable at a price of $6.50
for a period of 18 months from the date of closing. The Underwriters
will receive a commission of 5.5% of the gross proceeds of the offering
at closing. The offering is scheduled to close on or about April 12th,
2007 and is subject to certain conditions including, but not limited to,
satisfactory due diligence and the receipt of all necessary approvals
including the approval of the TSX Venture Exchange.
FOR FURTHER INFORMATION contact firstname.lastname@example.org, visit our
website at www.firstmajestic.com
or call our toll free number
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
FIRST MAJESTIC SILVER CORP.
President & CEO
This press release includes certain “Forward-Looking Statements” within
the meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical
fact, included herein, including without limitation, statements
regarding potential mineralization and reserves, exploration results and
future plans and objectives of First Majestic Silver Corp. are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially
from those anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.