Deal conducted by BMO Capital to fund ramp development at La Guitarra
By Devika Patel
Knoxville, Tenn., April 6 – First Majestic Silver Corp. said it plans a C$30.03 million private placement of stock through agent BMO Capital Markets.
The company will sell 4.62 million common shares on a bought-deal basis. The shares will be sold at C$6.50 apiece, a 5.8% discount to C$6.90, the April 3 closing share price.
Settlement is expected April 22.
Proceeds will be used for general working capital and ramp development at the La Guitarra Silver Mine.
Based in Vancouver, B.C., First Majestic is a silver exploration company.
| Issuer: | First Majestic Silver Corp.
|
| Issue: | Common shares
|
| Amount: | C$30.03 million
|
| Shares: | 4.62 million
|
| Price: | C$6.50
|
| Warrants: | No
|
| Agent: | BMO Capital Markets
|
| Pricing date: | April 6
|
| Settlement date: | April 22
|
| Stock symbol: | Toronto: FR
|
| Stock price: | C$6.90 at close April 3
|
| Market capitalization: | C$832.57 million
|
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