First Majestic Renews Share Repurchase Program F i r s t M a j e s t i c S i l v e r C o r p . ( “ F i r s t M a j e s t i c ” o r t h e “ C o m p a n y ” ) announces that its board of directors has
FIRST MAJESTIC SILVER CORP.
Suite 1800 – 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]
NEWS RELEASE
TSX - FR March 18, 2020
NYSE - AG
Frankfurt – FMV
First Majestic Renews Share Repurchase Program
F i r s t M a j e s t i c S i l v e r C o r p . ( “ F i r s t M a j e s t i c ” o r t h e “ C o m p a n y ” ) announces that its board of directors has
approved the extension of its share repurchase program (the “Sh are Repurchase”) pursuant to a normal course
i s s u e r b i d i n t h e o p e n m a r k e t t h r o u g h t h e f a c i l i t i e s o f t h e T o ro n t o S t o c k E x c h a n g e ( “ T S X ” ) o r a l t e r n a t i v e
Canadian market places over the next 12 months. Pursuant to the Share Repurchase, the Company proposes to
repurchase up to 10,000,000 common shares of the Company which represents 4.77% of the 209,822,976
issued and outstanding shares of the Company as of March 13, 2020.
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 provides that F irst Majestic may, during the 12 month period
commencing on March 21, 2020 and ending on or before March 20, 2021, purchase up to 10,000,000 common
shares through the facilities of the TSX and alternative Canadian marketplaces.
I n a c c o r d a n c e w i t h T S X r u l e s , d a i l y p u r c h a s e s m a d e b y t h e C o m p any on the TSX will not exceed 198,009
common shares, or 25% of First Majestic’s average daily trading volume of 792,037 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.
Under its prior normal course issuer bid, the Company repurchas ed a total of 275,000 shares for cancellation at
a volume weighted average price of CDN$8.56 as of March 17, 202 0. Under this prior normal course issuer bid,
which commenced on March 21, 2019 and expires on March 20, 2020, the Company received approval to
purchase up to 5,000,000 common shares.
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 the 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 t ime 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 shares would be in the best i nterests of the Company. Such purchases are
expected to benefit all remaining shareholders by increasing their equity interest in the Company.
ABOUT THE COMPANY
F i r s t M a j e s t i c i s a m i n i n g c o m p a n y f o c u s e d o n s i l v e r p r o d u c t i o n in Mexico and is aggressively pursuing the
development of its existing mineral property assets. The Company presently owns and operates the San Dimas
Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La E ncantada Silver Mine. Production from these mines
are projected to be between 11.8 to 13.2 million silver ounces or 21.5 to 24.0 million silver equivalent ounces in
2020.
FOR FURTHER INFORMATION contact [email protected], visit our 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 inf ormation. 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 Com pany’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 contingencies. 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 i nformation. 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.