New Issue: First Majestic seals C$9.59 million units placement with final tranche

By Devika Patel

Knoxville, Tenn., Sept. 16 - First Majestic Silver Corp. said it took in C$1.54 million in the second and final tranche of a C$9.59 million non-brokered private placement of units. The deal priced for C$9.2 million on Aug. 12, and the company raised C$8.05 million in the first tranche on Aug. 20.

The company sold 3,499,000 units at C$2.30 apiece in the first tranche and 668,478 units in this one.

Each unit consists of one common share and one half-share warrant. Each whole two-year warrant is exercisable at C$3.30.

Proceeds will be used as general working capital.

Located in Vancouver, B.C., First Majestic is a silver exploration company focused on properties in Mexico.

Issuer:	First Majestic Silver Corp.
Issue:	Units of one common share and one half-share warrant
Amount:	C$9,585,199
Units:	4,167,478
Price:	C$2.30
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$3.30
Agent:	Non-brokered
Pricing date:	Aug. 12
Settlement date:	Aug. 20 (for C$8,047,700), Sept. 16 (for C$1,537,500)
Stock symbol:	Toronto: FR
Stock price:	C$2.27 at close Aug. 11
Market capitalization:	C$244 million

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