First Majestic Announces Annual General Meeting Voting Results and Leadership Update
First Majestic Silver Corp. (TSX: FR) (“First Majestic” or the “Company”) is pleased to announce the voting results for its Annual General Meeting held on May 27, 2021.
A total of 97,420,710 shares were represented at the meeting, representing 43.72% of the issued and outstanding common shares of the company. The shareholders approved all matters submitted to the meeting as follows:
ELECTION OF DIRECTORS
|Candidate for the post of director||Votes for||% For||Rejected votes||% Retained|
|Keith Neumeyer||60 657 981||99.53||288,354||0.47|
|Marjorie Co||60 385 223||99.08||561,113||0.92|
|Ana Lopez||60 614 574||99.46||331 761||0.54|
|Thomas Fudge, Jr.||60 680 658||99.56||265,677||0.44|
|Jean Des Rivieres||60 684 245||99.57||261,989||0.43|
SAY ON THE PAYE ADVISORY VOTE
|Votes for||% For||Votes against||% Against|
|59 641 694||97.86||1,304,642||2.14|
In addition, the reappointment of Deloitte LLP as auditors of the company and the fixing of the total number of directors at six, as indicated in the circular, were also approved by a majority vote of the shareholders present in person or represented. vicarious. Robert McCallum was not running for re-election as a director as he served under the director term policy.
The company announces today that Raymond Polman, Chief Financial Officer, has announced his intention to retire after 15 successful years with the company. Mr. Polman will remain in his current position until a replacement has been transferred to that position. A new CFO is expected to be announced by the end of the third quarter.
Keith Neumeyer, President and CEO, said, “Ray has been an important member of First Majestic for 15 years and his financial leadership has helped make First Majestic the world-class silver company it is today. . I am grateful for his contribution to the company and wish him the best of luck in his retirement. In addition, I would like to thank Robert McCallum for his long tenure at First Majestic. Rob has been with the company since its inception and his contributions have made First Majestic one of the largest silver companies in the world. Ray and Robert will both be missed, however, they will both be available for advisory roles over the next 12 months. “
In addition, the Company is pleased to announce the appointments of Michael Deal as General Manager of the Jerritt Canyon Gold Mine and Edward Kirwan as Director of Environment. Mr. Deal has over 17 years of experience in mining and mineral processing and most recently was the Regional Processing Manager and Metallurgist for Nevada Gold Mines, a joint venture between Barrick Gold and Newmont. Mr. Kirwan has over 34 years of environmental, sustainability and project management experience in the mining industry and most recently held environmental positions at Tahoe Resources, Silver Standard Resources and KHGM. In addition, effective today, Greg Kulla has resigned from the company as vice president of exploration and the search for his replacement has begun.
RENEWS THE ATM PROGRAM
The Company announces that it has today entered into a share distribution agreement (the “Sale Agreement”) with BMO Capital Markets and TD Securities (the “Agents”) pursuant to which the Company may , at its discretion and from time to time until June 18, 2023, sell, through the Agents, the number of common shares of the Company (the “Common Shares”) that would result in proceeds Aggregate gross to the Company of up to US $ 100.0 million (the “Offering”). Sales of Common Shares will be made through “market distributions” as defined in National Instrument 44-102 Pre-Distributions of the Canadian Securities Administrators, including sales made directly to the New York Stock Exchange (the “NYSE”), or any other recognized market on which the Common Shares are listed or listed or where the Common Shares are traded in the United States. Sales, if any, of Common Shares made pursuant to the Sale Agreement will be effected through regular brokerage transactions on the NYSE at market prices, or as the Company and the Agents have otherwise. agreed. No offer or sale of Common Shares will be made in Canada on the Toronto Stock Exchange (the “TSX”) or on any other stock exchange in Canada.
The offering will be made by way of a prospectus supplement to the base prospectus included in the Company’s existing US registration statement on Form F-10 (the “Registration Statement”) and the Short Form Base Shelf Prospectus. Canadian (the “Base Shelf Prospectus”) dated May 18, 2021. The prospectus supplement relating to the offering has been filed with the securities commissions of each of the provinces of Canada (except Quebec) and the Securities and Exchange Commission of the United States (the “SEC”). The U.S. Prospectus Supplement (along with the associated base prospectus) will be available on the SEC website (www.sec.gov) and the Canadian Prospectus Supplement (and the related base shelf prospectus) will be available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. The Agents will also provide copies of the US Prospectus and US Prospectus Supplement upon request by contacting BMO Capital Markets Corp., attention: Equity Syndicate Department, 3 Times Square, New York, NY 10036, or by phone at (800) 414-3627, or email: [email protected]).
The Company intends to use the net proceeds of the Offering, if any, as well as the Company’s current cash resources, to develop and / or improve the Company’s existing mines and to add to the working capital of the Company. Society.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of the securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to ‘registration or qualification under the securities laws of such jurisdiction.
ABOUT THE COMPANY
First Majestic is a publicly traded mining company that focuses on silver and gold production in Mexico and the United States and actively pursues the development of its existing mining assets. The Company currently owns and operates the San Dimas Silver / Gold Mine, Santa Elena Silver / Gold Mine, La Encantada Silver Mine and Jerritt Canyon Gold Mine.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President and CEO
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” under applicable Canadian and US securities laws (collectively, “forward-looking statements”). These statements relate to future events or the future performance of the company, business prospects or opportunities based on forecasts of future results, estimates of amounts not yet determinable and management assumptions made in light of the Management experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements regarding: ABM sales and use of proceeds therefrom; appointment of a new financial director; the company’s business strategy; and commercial mining operations. Assumptions may prove to be incorrect and actual results may differ materially from those expected. Therefore, advice cannot be guaranteed. As such, investors are cautioned not to place undue reliance on forward-looking statements and statements, as there can be no assurance that the plans, assumptions or expectations upon which they are placed will materialize. All statements other than statements of historical fact may be forward-looking statements. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, or future events or performance (often, but not always, using words or phrases such as “seek “,” Anticipate “,” plan “,” Continue “,” estimate “,” expect “,” may “,” want “,” plan “,” predict “,” foresee “,” potential “,” target “,” intend “,” could “,” could “,” should “,” believe “and similar expressions) are not statements of historical fact and may be” forward-looking statements “.
Actual results may differ from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society, risks associated with integrating acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; the actual performance of the plant, equipment or processes against specifications and expectations; accidents; labor relations; relations with local communities; changes in national or local governments; changes in applicable law or its application; delays in obtaining approvals or financing or in completing development or construction activities; fluctuations in exchange rates; additional capital requirements; government regulations; environmental risks; repair costs; the results of pending litigation; the limits of insurance coverage as well as the factors discussed in the section entitled “Description of the Business – Risk Factors” of the most recent annual information form of the Company, available at www.sedar.com, and Form 40-F filed with the United States Securities and Exchange Commission in Washington, DC Although First Majestic has attempted to identify significant factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as expected, estimated or forecast.
The Company believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that such expectations will prove to be correct and the forward-looking statements included herein should not be unduly relied upon. These statements are only valid as of the date hereof. The Company does not intend and assumes no obligation to update these forward-looking statements, except as required by applicable law.
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