FR Frankfurt – FMV First Majestic Announces the Proposed Sale of Its Royalty Portfolio for US$20.0 Million
New York – AG November 28, 2022
Toronto – FR
Frankfurt – FMV
First Majestic Announces the Proposed Sale of Its Royalty Portfolio for US$20.0 Million
Vancouver, BC, Canada – First Majestic Silver Corp . (AG: NYSE; FR: TSX) (the "Company" or “First Majestic”) is
pleased to announce that it has entered into a royalty purchase agreement dated November 25, 2022 to sell a
portfolio of its royalty interests (“Royalty Portfolio”) to Metalla Royalty & Streaming Ltd. (NYSE American: MTA;
TSX Venture: MTA) (“Metalla”) for a total consideration of US$20.0 million (the “Transaction”) in common shares
of Metalla.
Total consideration consists of 4,168,056 Metalla shares at a deemed price of US$4.7984 per share based on a
25-day volume-weighted average price on the NYSE American Exchange having an aggregate value of
approximately US$20.0 million. The consideration will be paid upon Closing of the Transaction.
Royalty Portfolio
Asset Owner Location Stage Royalty
La Encantada First Majestic Coahuila, Mexico Operating 100% Gold Royalty*
La Parrilla First Majestic Durango, Mexico Care & Maintenance 2% NSR
Del Toro First Majestic Zacatecas, Mexico Care & Maintenance 2% NSR
San Martin First Majestic Jalisco, Mexico Care & Maintenance 2% NSR
La Guitarra First Majestic – undergoing a
binding purchase agreement
to Sierra Madre Gold & Silver
Mexico, Mexico Care & Maintenance 2% NSR
Plomasas GR Silver Mining Sinaloa, Mexico Exploration 2% NSR
La Luz First Majestic San Luís Potosí, Mexico Exploration 2% NSR
La Joya First Majestic - Optioned to
Silver Dollar Resources
Durango, Mexico Exploration 2% NSR
*up to the first 1,000 payable ounces annually
Once closed, First Majestic will hold approximately 8.5% of the outstanding shares in Metalla, which will be
subject to a statutory holding period of four months and one day following the date of closing and certain
contractual resale restrictions. The accretive transaction realizes significant value for First Majestic shareholders.
Closing of the Transaction remains subject to the approval of the TSX Venture Exchange and other customary
closing conditions and is expected to occur in the first quarter of 2023.
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 Jerritt Canyon Gold Mine,
the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.
First Majestic is proud to offer a portion of its silver production for sale to the public. Bars, ingots, coins and
medallions are available for purchase online at its Bullion Store at some of the lowest premiums available.
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
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking information” and "forward-looking statements” under applicable Canadian and U.S. securities laws (collectively,
“forward-looking statements”). These statements relate to future events or the Company's future performance, b usiness prospects or opportunities that
are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in lig ht of management's
experience and perception of historical trends, current conditions and e xpected future developments. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, bu t not always, using words or
phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”,
“could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “for ward-looking statements”. Forward-
looking statements include but are not limited to benefits of the Transaction for shareholders, completion of the Transaction and the timing of closing. These
statements are based on the Company's assumptions that all conditions to closing of the Transaction will be satisfied in a timely manner and closing will
occur in the first quarter of 2023 . These assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Actual
results may vary from forward -looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors
that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to the risk
that the approval of the TSX Venture Exchange will not be obtained and risks related to the parties' ability to satisfy the c onditions of closing of the
Transaction. Although First Majestic 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. The Company believes that the
expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct
and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company
does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.