VANCOUVER, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) – First Majestic Silver Corp. (“First Majestic” or the “Firm”) publicizes that it has obtained regulatory consent to increase its share buyback program (the “Share Buyback”) pursuant to a standard course buyback provide. open market exercise by the amenities of the Toronto Inventory Change (“TSX”) or different Canadian markets over the subsequent 12 months. Pursuant to the share repurchase, the corporate has the power to repurchase as much as 10,000,000 widespread shares of the corporate, which represents roughly 4.5% of the 221,681,131 issued and excellent shares of the corporate at March 8, 2021.
As a way to implement the share buyback, First Majestic has obtained TSX approval of its discover of intention to make a standard course issuer bid. The discover gives that First Majestic might, throughout the 12-month interval starting March 22, 2021 and ending March 21, 2022 or earlier, buy as much as 10,000,000 widespread shares by the amenities of the TSX and different Canadian markets.
In accordance with TSX guidelines, the day by day purchases made by the Firm on the TSX won’t exceed 349,596 widespread shares, or 25% of the typical day by day buying and selling quantity of 1,398,384 widespread shares of First Majestic on the TSX for the six months. civilians previous the date of acceptance. of the unique discover, topic to sure prescribed exemptions.
As a part of its regular course buyback provide, the corporate didn’t purchase again any shares as of March 17, 2021. Pursuant to this regular course buyback provide, which started on March 21 2020 and expires on March 20, 2021, the corporate has been approved to buy as much as 10,000,000 widespread shares.
First Majestic won’t make any purchases of Frequent Shares below the traditional course issuer bid, aside from purchases on the open market. The value the Firm can pay for any Frequent Share would be the prevailing market worth for these shares on the time of acquisition. All widespread shares, if any, bought as a part of the share repurchase shall be canceled.
The Firm believes that, once in a while, the value of its Frequent Shares might not totally replicate the underlying worth of the Firm’s enterprise and its future enterprise prospects. The Firm believes that, at such instances, buying Frequent Shares can be in the perfect pursuits of the Firm. These purchases are anticipated to profit all remaining shareholders by growing their proportionate stake within the firm.
ABOUT THE COMPANY
First Majestic is a publicly traded mining firm centered on silver manufacturing in Mexico and actively pursuing the event of its present mining belongings. The Firm presently owns and operates the San Dimas Silver / Gold Mine, Santa Elena Silver / Gold Mine and La Encantada Silver Mine. Manufacturing from these mines is anticipated to be between 12.5 and 13.9 million silver ounces or 20.6 to 22.9 million silver equal ounces in 2021.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President and CEO
SPECIAL NOTE CONCERNING FORWARD-LOOKING INFORMATION
This press launch incorporates “forward-looking data” and “forward-looking statements” below relevant Canadian and US securities legal guidelines (collectively, “forward-looking statements”). These statements relate to future occasions or the longer term efficiency of the corporate, enterprise prospects or alternatives based mostly on forecasts of future outcomes, estimates of quantities not but determinable and administration assumptions made in gentle of the expertise of administration and its notion of historic tendencies, present situations and anticipated future developments. Ahead-looking statements embody, however usually are not restricted to, statements concerning: purchases below the Firm’s regular course issuer bid and the timing and quantity of estimated future manufacturing. Assumptions might show to be incorrect and precise outcomes might differ materially from these anticipated. Due to this fact, the indications can’t be assured. Buyers are cautioned to not place undue reliance on forward-looking statements and statements as there may be no assurance that any plans, assumptions or expectations upon which they’re positioned will materialize. All statements apart from statements of historic truth could also be forward-looking statements. Any assertion that expresses or entails discussions concerning predictions, expectations, beliefs, plans, projections, objectives, or future occasions or efficiency (typically, however not all the time, utilizing phrases or phrases reminiscent of “search “,” Anticipate “,” plan “,” Proceed “,” estimate “,” count on “,” might “,” need “,” plan “,” predict “,” foresee “,” potential “,” goal “,” intend “,” may “,” may “,” ought to “,” imagine “and comparable expressions) usually are not statements of historic truth and could also be” forward-looking statements “.
Precise outcomes might differ from forward-looking statements. Ahead-looking statements are topic to dangers, uncertainties and different recognized and unknown components that will trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements, together with, however not restricted to: the value of the Firm’s widespread inventory market; the money stream and earnings of the corporate; the length and results of the coronavirus and COVID-19, and another pandemic or public well being disaster on our operations and workforce, and the consequences on international economies and society, precise outcomes of operations exploration; conclusions of financial evaluations; modifications in challenge parameters as plans proceed to be refined; commodity costs; variations in ore reserves, grade or restoration charges; the precise efficiency of the plant, tools or processes in opposition to specs and expectations; accidents; fluctuations in prices; labor relations; availability and efficiency of contractors; relations with native communities; modifications in nationwide or native governments; modifications in relevant regulation or its utility; delays in acquiring approvals or financing or in finishing growth or building actions; fluctuations in trade charges; further capital necessities; authorities laws; environmental dangers; restore prices; the outcomes of pending litigation, together with appeals from judgments; decision of complaints and arbitration proceedings; regulatory negotiations and procedures; the bounds of insurance coverage protection in addition to the components mentioned within the part entitled “Description of the Enterprise – Danger Components” of the Firm’s most up-to-date Annual Info Type, accessible at www.sedar.com, and Type 40 -F filed with the US Securities and Change Fee in Washington, DC Though First Majestic has tried to establish vital components that would trigger precise outcomes to vary materially from these contained in forward-looking statements, it could there could also be different components that trigger outcomes to not be as anticipated, estimated or anticipated.
The Firm believes that the expectations mirrored in these forward-looking statements are cheap, however no assurance may be on condition that such expectations will show to be right and the forward-looking statements included herein shouldn’t be unduly relied upon. These statements are solely legitimate as of the date hereof. The Firm doesn’t intend and assumes no obligation to replace these forward-looking statements, besides as required by relevant regulation.