First Majestic Silver Corp.: Second Tranche of Non-Brokered Private Placement Closes
September 16, 2009
Majestic Silver Corp. (the “Company”) is pleased to announce the
closing of the second and final tranche of the non-brokered private
placement (the “Offering”) consisting of 668,478 units (a “Unit”) at a
price of CDN$2.30 per Unit for gross proceeds of CDN$1,537,500. Each
Unit consists of one common share and one-half of one common share
purchase warrant (a “Warrant”), with each full Warrant entitling the
holder to purchase one additional common share of the Company (the
“Warrant Share”) at an exercise price of CDN$3.30 per Warrant Share for a
period of two years after the closing of the Offering.
The Company plans to use the net proceeds of the Offering as general
working capital in respect to its three operating silver mines; the La
Encantada Silver Mine, La Parrilla Silver Mine, and the San Martin
Silver Mine, all located in Mexico.
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.