Toronto–FR Frankfurt–FMV



NewYork–AG    September17,2020

Toronto–FR

Frankfurt–FMV

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by

Billionaire Eric Sprott

Vancouver,BC,CanadaͲFIRSTMAJESTICSILVERCORP.(AG:NYSE;FR:TSX)(the"Company"or“FirstMajestic”)

ispleasedtoreportthatithasclosedthepreviouslyannouncedboughtdealwithEricSprott,through2176423

OntarioLtd.,acorporationbeneficiallycontrolledbyhimself.

TheCompanyissuedanaggregateof5,000,000commonsharesofFirstMajestic(the“CommonShares”),ona

bought deal basis, at a price of CDN$15.60 per Common Share for gross proceeds of CDN$78,000,000 (the

“Offering”) pursuant to an underwriting agreement dated September 14, 2020 entered into between the

CompanyandCormarkSecuritiesInc.,asunderwriter.

The Company intends to use the net proceeds of the Offering, together with the Company’s current cash

resources,todevelopminingprojectsand/orimprovetheCompany'sexistingminesandtoaddtotheCompany's

workingcapital.

TheOfferingwasmadebywayofaprospectussupplement(the“ProspectusSupplement”)undertheCompany’s

existingCanadianshortformbaseshelfprospectus(the“BaseShelfProspectus”)datedNovember5,2018.The

ProspectusSupplementhasbeenfiledinalloftheprovincesofCanadaotherthanQuébecand,togetherwith

therelatedBaseShelfProspectus,isavailableonSEDARatwww.sedar.com.

ABOUTTHECOMPANY

FirstMajesticisapubliclytradedminingcompanyfocusedonsilverproductioninMexicoandisaggressively

pursuingthedevelopmentofitsexistingmineralpropertyassets.TheCompanypresentlyownsandoperatesthe

SanDimasSilver/GoldMine,theSantaElenaSilver/GoldMineandtheLaEncantadaSilverMine. Production 

from these mines are projected tobebetween 11.0 to11.7 million silver ounces or21.4 to22.9 million 

silver equivalent ounces in2020. 

2



FORFURTHERINFORMATIONcontact[email protected],visitourwebsiteatwww.firstmajestic.comorcall

ourtollͲfreenumber1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer, President & CEO

ForwardͲLookingStatements

Thispressreleasecontains“forwardͲlookingstatements”,withinthemeaningoftheUnitedStatesPrivateSecuritiesLitigationReformActof1995or

forward looking information within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial

performanceandconditionofFirstMajesticSilverCorp.ForwardͲlookingstatementsalsoincludestatementswithrespecttotheproposeduseofproceeds

oftheOfferingGenerally,theseforwardͲlookingstatementscanbeidentifiedbytheuseofforwardͲlookingterminologysuchas“plans”,“expects”or

“does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or

variationsofsuchwordsandphrasesorstatethatcertainactions,eventsorresults“may”,“could”,“would”,“might”or“willbetaken”,“occur”or“be

achieved”.ForwardͲlookingstatementsaresubjecttoknownandunknownrisks,uncertaintiesandotherfactorsthatmaycausetheactualresults,level

ofactivity,performanceorachievementsofFirstMajesticSilverCorp.tobemateriallydifferentfromthoseexpressedorimpliedbysuchforwardͲlooking

statements,includingbutnotlimitedto:failuretoobtainregulatoryapprovaloftheOffering;theoccurrenceofamaterialadversechange,disaster,change

of law or ; risks related to international operations; actual results of current exploration activities; actual results of current reclamation activities;

conclusionsofeconomicevaluations;changesinprojectparametersasplanscontinuetoberefined;futurepricesofmetals;possiblevariationsinore

reserves,gradeorrecoveryrates;failureofplant,equipmentorprocessestooperateasanticipated;accidents,labourdisputesandotherrisksofthe

miningindustry;delaysinobtaininggovernmentalapprovalsorfinancingorinthecompletionofdevelopmentorconstructionactivities,aswellasthose

factorsdiscussedinthesectionentitled“DescriptionofBusinessͲRiskFactors”inFirstMajesticSilverCorp.’sAnnualInformationFormfortheyearended

December31,2019,availableonwww.sedar.com,andForm40ͲFonfilewiththeUnitedStatesSecuritiesandExchangeCommissioninWashington,D.C.

AlthoughFirstMajesticSilverCorp.hasattemptedtoidentifyimportantfactorsthatcouldcauseactualresultstodiffermateriallyfromthosecontainedin

forwardͲlookingstatements,theremaybeotherfactorsthatcauseresultsnottobeasanticipated,estimatedorintended.Therecanbenoassurancethat

suchstatementswillprovetobeaccurate,asactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipatedinsuchstatements.Accordingly,

readersshouldnotplaceunduerelianceonforwardͲlookingstatements.FirstMajesticSilverCorp.doesnotundertaketoupdateanyforwardͲlooking

statementsthatareincorporatedbyreferenceherein,exceptinaccordancewithapplicablesecuritieslaws.