Douglas Scott ResignationFirst Majestic Silver: Douglas Scott Resignation
By First Majestic Silver Corp.
08 Jan 2007 at 04:30 PM EST
VANCOUVER, B.C. -- First Majestic Silver Corp. (FR-V) (the "Company") announces today that Mr. Douglas R. Scott, C.A., has tendered his resignation as the Company's Chief Financial Officer effective January 31st, 2007. Mr. Scott has decided to purse other business opportunities.
Mr. Scott was appointed to this position in April 2006 and since that time the company has experienced tremendous growth. First Majestic has successfully acquired two additional operating silver mines in Mexico and has grown from around 100 employees to over 850 employees today. Mr. Scott has led a team of 18 accounting staff who have worked diligently in assisting the Company to meet its aggressive growth strategy.
Many new procedures over the past months have needed to be implemented corporate wide and several processes including real time up to date accounting information using advanced computer and communication systems are in the final stages of being implemented. Mr. Scott has been at the forefront of these internal efforts and management and the board of directors would like to thank Doug for the long hours and dedication he has shown to the Company.
The position of Chief Financial Officer will remain open until a suitable candidate is found to take this position. In the meantime, the board is confident that the broad accounting and administrative staff within the Company can continue to function sufficiently to meet all management and regulatory requirements.
First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through development of its existing assets and the pursuit through acquisition of additional assets that make sense to achieving our corporate objective.
FOR FURTHER INFORMATION contact info@firstmajestic.com, 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