First Majestic Renews Share Repurchase Program
FIRST MAJESTIC SILVER CORP.
Suite 1805 – 925 West Georgia Street
Vancouver, B.C., Canada V6C 3L2
Telephone: (604) 688-3033 Fax: (604) 639-8873
Toll Free: 1-866-529-2807
Web site: www.firstmajestic.com; E-mail: [email protected]
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES.
NEWS RELEASE
TSX - FR March 16, 2017
NYSE - AG
Frankfurt – FMV
Mexico - AG
First Majestic Renews Share Repurchase Program
First Majestic Silver Corp. (“First Majestic” or the “Company”) announces that its board of directors has
approved the extension of its share repurchase program (the “Sh are Repurchase”) pursuant to a
normal course issuer bid in the open market through the facilit ies of the Toronto Stock Exchange
(“TSX”) or alternative Canadian market places over the next 12 months. Pursuant to the Share
Repurchase, the Company proposes to repurchase up to 8,249,204 common shares of the Company
which represents 5% of the 164,984,089 issued and outstanding s hares of the Company as of
March 10, 2017.
In order to implement the Share Repurchase, First Majestic has received TSX approval of its notice of
intention to make a normal course issuer bid. The notice provi des that First Majestic may, during the
12 month period commencing on March 21, 2017 and ending on or b efore March 20, 2018, purchase
up to 8,249,204 common shares through the facilities of the TSX and alternative Canadian
marketplaces.
In accordance with TSX rules, daily purchases made by the Compa ny on the TSX will not exceed
362,507 common shares, or 25% of First Majestic’s average daily trading volume of 1,450,027
common shares on the TSX for the six calendar months preceding the date of the acceptance of the
original notice, subject to certain prescribed exemptions.
The Company did not repurchase any shares for cancellation unde r its prior normal course issuer bid
which commenced on March 17, 2016 and expired on March 16, 2017.
First Majestic will make no purchases of common shares other th an open-market purchases. The
price that the Company will pay for any common shares will be t he prevailing market price of such
shares at the time of acquisition. All common shares purchased pursuant to the Share Repurchase
will be cancelled.
The Company believes that, from time to time, the market price of its common 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 common shar es would be in the best interests of
the Company. Such purchases are expected to benefit all remaini ng shareholders by increasing their
equity interest in the Company.
About the Company
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the
development of its existing mineral property assets. The Compan y presently owns and operates six
producing silver mines; the La Parrilla Silver Mine, the San Ma rtin Silver Mine, the La Encantada Silver
Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa Elena Silver/Gold Mine. Production
from these six mines is projected to be between 11.1 to 12.4 mi llion ounces of pure silver or 16.6 to 18.5
million ounces of silver equivalents in 2017.
FOR FURTHER INFORMATION contact [email protected], visit o ur website at
www.firstmajestic.com or call our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO
SPECIAL NOTE REGARDING FORWARD‐LOOKING INFORMATION
This news release includes certain “Forward ‐Looking Statements” of “forward looking information ” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, respectively. When
used in this news release, the w ords “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule”
and similar words or expressions, identify forward ‐looking statements or information. These forward ‐looking statements or
information relate to, among other things the adoption and purc hase of shares under the Company’s normal course issuer
bid.
These statements reflect the Comp any’s current views with respe ct to future events and are necessarily based upon a
number of assumptions and estimates that, while considered reas onable by the Company, are inherently subject to
significant business, economic, c ompetitive, political and soci al uncertainties and contingencie s. Many factors, both known
and unknown, could cause actual results, performance or achieve ments to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward‐looking statements or information and
the Company has made assumptions and estimates based on or rela ted to many of these factors. Such factors include,
without limitation: fluctuations in the market price of the Com pany’s shares; fluctuations in t he currency markets (such as th e
Canadian dollar and Mexican peso versus the U.S. dollar); and t he Company’s cash flow and availability of alternate sources
of capital; and the factors iden tified under the caption “Risk Factors” in the Company’s Annual Information Form, under the
caption “Risks Relating to First Majestic’s Business”.
Investors are cautioned against attributing undue certainty to forward‐looking statements or information. Although the
Company has attempted to identif y important factors that could cause actual results to differ materially, there may be other
factors that cause results not t o be anticipated, estimated or intended. The Company does not intend, and does not assume
any obligation, to update these forward ‐looking statements or information to reflect changes in assumpt ions or changes in
circumstances or any other events affecting such statements or information, other than as required by applicable law.