First Majestic Silver Corp.: Settlement of Current Liabilities Closes
September 18, 2009
Majestic Silver Corp. (the “Company”) is pleased to announce that it
has settled certain current liabilities amounting to $1,919,209 by the
issuance of 834,438 common shares of the Company at a deemed price of
CDN$2.30 per common share. “This completes a onetime process of
converting some old payables related to a select group of drilling and
development partners, and demonstrates the strength and support of our
business relationships in Mexico. With this settlement and the prior
one announced on August 20th, we have reduced our current liabilities by
more than $2.7 million and have further strengthened the Company’s
balance sheet after our recent $9.6 million private placement” commented
Raymond Polman, First Majestic’s Chief Financial Officer.
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 significant corporate growth objectives.
FOR FURTHER INFORMATION contact firstname.lastname@example.org
, visit our website at www.firstmajestic.com
or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, 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.