First Majestic Announces Share Repurchase Program
First Majestic Announces Share Repurchase
Program
Vancouver, British Columbia--(Newsfile Corp. - September 10, 2024) - First Majestic Silver Corp.
(NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") announces that the Toronto
Stock Exchange ("TSX") has accepted for filing First Majestic's Notice of Intention to Make a Normal
Course Issuer Bid (the "Share Repurchase Program") to be transacted through the facilities of the TSX
and/or through Canadian alternative trading systems.
Pursuant to the NCIB, First Majestic may, during the 12-month period commencing September 12, 2024,
and ending on or before September 11, 2025, purchase up to 10,000,000 of its common shares
("Shares"), being approximately 3.32% of the 301,616,350 issued and outstanding Shares as of
September 4, 2024.
All purchases under the Share Repurchase Program will be made at prevailing
market prices.
First Majestic may purchase up to a daily maximum of 193,454 Shares (being 25% of the average daily
trading volume of the Shares for the last six calendar months, which was 773,816 Shares), subject to the
TSX rules permitting block purchases.
Any purchases under the Share Repurchase Program will depend
on future market conditions, and any Shares purchased by the Company will be cancelled.
Purchases
under the Share Repurchase Program will be made by First Majestic's broker based upon the
parameters prescribed by the TSX and by applicable law.
First Majestic has not repurchased any of its
Shares by way of a normal course issuer bid in the previous 12 months.
First Majestic believes that, from time to time, the market price of its Shares may not fully reflect the
underlying value of the Company's business and its future business prospects.
The Company believes
that at such times the purchase of Shares would be in the best interests of the Company.
Such
purchases are expected to benefit all shareholders by increasing their proportionate equity interest in the
Company.
About First Majestic
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and
the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the
Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine as well as a portfolio of development
and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion
of its silver production for sale to the public.
Bars, ingots, coins and medallions are available for
purchase online at
www.firstmint.com
, at some of the lowest premiums available.
For further information, visit our website at
www.firstmajestic.com
.
You can contact us by e-mail at
, or by telephone at 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" under
applicable Canadian and United States securities laws (collectively, "forward-looking statements").
Forward-looking statements in this news release include, but are not limited to, statements with respect
to potential purchases of Shares under the Company's NCIB bid and the timing of such purchases.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or variations (including negative variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking
statements.
Factors that could cause actual results to differ materially from those anticipated in these
forward-looking statements are discussed in the section entitled
"Description of the Business - Risk
Factors"
in the Company's most recent Annual Information Form for the year ended December 31, 2023
filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at
www.sedarplus.ca
, and in the Company's Annual Report on Form 40-F for the year ended December 31,
2023 filed with the United States Securities and Exchange Commission on EDGAR at
www.sec.gov/edgar
.
Although the Company has attempted to identify important 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 anticipated, estimated or intended.
Accordingly, the reader is cautioned not to place
undue reliance on forward-looking statements.
Forward-looking statements contained herein are made
as of the date of this news release and the Company disclaims, other than as required by law, any
obligation to update any forward-looking statements whether as a result of new information, results,
future events, circumstances, or if management's estimates or opinions should change, or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/222734