Searchlight Innovations Inc T.SLX

Primary Symbol: V.SLX.P

Searchlight Innovations Inc. is a Canada-based capital pool company (CPC). The Company's principal business is the identification, evaluation and acquisition of assets or businesses with a view to potential acquisition or participation by completing a qualifying transaction. The Company has not commenced commercial operations. The Company neither engaged in any operations nor generated any revenues. The Company is focused on acquiring business across the mining industry.

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Searchlight Innovations Inc

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Post by glorifiedpon Apr 03, 2012 10:41am

367 Views

Post# 19752525

Buy out!!

VANCOUVER, BRITISH COLUMBIA, Apr 03, 2012 (MARKETWIRE via COMTEX) -- First Majestic Silver Corp. ("First Majestic") CA:FR-1.95%AG-1.64% (frankfurt:FMV) and Silvermex Resources Inc. CA:SLX-4.26% (frankfurt:GSBN) ("Silvermex") are pleased to announce that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Silvermex for a consideration of 0.0355 common shares of First Majestic (the "Exchange Ratio") and C
.0001 in cash per common share of Silvermex. The offer values Silvemex at approximately C
.60 per share, representing a premium of approximately 33% to the closing price of Silvermex as at April 2, 2012 and approximately 43% to the 30 day volume weighted average price ("VWAP"). The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).