First Majestic Silver Corp.: Exercise and Closing of Over-Allotment Option
April 4, 2008
First Majestic Silver Corp. (“First Majestic” or the “Company”) is
pleased to announce the issuance today of an aggregate of 637,500 common
share purchase warrants (the “Additional Warrants”) pursuant to the
exercise by CIBC World Markets Inc., on behalf of a syndicate of
underwriters (the “Underwriters”) that includes Blackmont Capital Inc.,
Cormark Securities Inc. and GMP Securities L.P., of the over-allotment
option (the “Over-allotment Option”) granted to the Underwriters in
connection with the public offering of 8,500,000 units of First Majestic
which closed on March 25, 2008. The Additional Warrants were sold to
the Underwriters at an issue price of $0.56 per Additional Warrant.
Each Additional Warrant entitles the holder to acquire one additional
common share at a price of $7.00 until March 25, 2010. The gross
proceeds to First Majestic from the exercise of the Over-allotment
Option is $357,000.
The Company plans to use the net proceeds of the offering for mill
expansion plans to increase the Company’s production capacities going
forward, ongoing development and exploration programs presently
underway, and for general working capital.
First Majestic is a producing silver company focused in Mexico and is
aggressively pursuing its business plan to become a senior silver
producer through the development of its existing assets and the pursuit
through acquisition of additional assets that contribute to achieving
its corporate growth objectives.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
For further information please contact: email@example.com, visit
our website at www.firstmajestic.com
or call our toll free number
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.