Special General Meeting Set For Sep 25!
VANCOUVER, BC, CANADA (August 27, 2015) -- First Majestic Silver Corp. ("First Majestic") and SilverCrest Mines Inc. ("SilverCrest") are pleased to announce that SilverCrest has been granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of a special meeting of SilverCrest shareholders to consider the previously announced arrangement (the "Arrangement") among First Majestic, SilverCrest and SilverCrest Metals Inc. ("New SilverCrest") and the mailing of a joint management information circular (the "Joint Circular").
As described in the Joint Circular, SilverCrest will be seeking shareholder approval for the Arrangement under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the "Arrangement Resolution"). First Majestic will be seeking shareholder approval for the issuance of common shares of First Majestic as consideration under the Arrangement (the "First Majestic Resolution").
The special meetings of SilverCrest shareholders to consider the Arrangement Resolution and of First Majestic shareholders to consider the First Majestic Resolution will be held on Friday, September 25, 2015. SilverCrest's special meeting of shareholders will commence at 10:00 AM Pacific time at the Metropolitan Hotel Vancouver, 645 Howe Street, Vancouver, British Columbia. First Majestic's special meeting of shareholders will commence at 2:00 PM Pacific time at the Terminal City Club, 837 West Hastings Street, Vancouver, British Columbia. Shareholders of record as of the close of business on August 17, 2015 are eligible to vote at their respective special meetings.
The Board of Directors of SilverCrest has unanimously recommended that SilverCrest shareholders vote FOR the Arrangement Resolution. The Board of Directors of First Majestic has unanimously recommended that First Majestic shareholders vote FOR the First Majestic Resolution. In addition, each of the directors and senior officers of SilverCrest, who currently hold in the aggregate approximately 3.9% of the issued and outstanding SilverCrest shares have entered into a voting agreement with First Majestic and have agreed to vote in favour of the Arrangement Resolution.
Under the terms of the Arrangement, SilverCrest shareholders will receive 0.2769 of a common share of First Majestic plus C$0.0001 in cash per SilverCrest common share. Each SilverCrest shareholder will also receive 0.1667 common shares of New SilverCrest for each SilverCrest common share held.
The Joint Circular is being mailed today to the shareholders of First Majestic and SilverCrest, and will also be available under the profiles of each of First Majestic and SilverCrest on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. It will also be available on the websites of First Majestic at www.firstmajestic.com and SilverCrest at www.silvercrestmines.com.
YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY. Your vote is important regardless of the number of shares you own. First Majestic and SilverCrest shareholders are encouraged to read the Joint Circular in detail.
Shareholders who have questions regarding the Arrangement or who require assistance with voting may contact Laurel Hill Advisory Group, the proxy solicitation agent, by telephone at 1-877-452-7184 FREE (North American toll-free) or 416-304-0211 (collect outside North America) or by email at assistance@laurelhill.com.
SilverCrest has today filed a technical report prepared in accordance with National Instrument 43-101 (the "Report") effective August 15, 2015 on its Cruz de Mayo property titled "Mineral Resource Estimate for the Cruz de Mayo Property, Sonora, Mexico". The Cruz de Mayo property will be transferred by SilverCrest to New SilverCrest in connection with the Arrangement and will be the principal property held by New SilverCrest following the spin-out of New SilverCrest to the shareholders of SilverCrest. The Report will be available under the profile of SilverCrest on SEDAR at www.sedar.com.
ABOUT FIRST MAJESTIC
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or contact Todd Anthony, Investor Relations at 1.866.529.2807 FREE.
ABOUT SILVERCREST
SilverCrest is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100% owned Santa Elena Mine, located in the State of Sonora, Mexico. The operation comprises a high grade, epithermal silver and gold deposit, along with a 3,000 tpd conventional milling facility. Santa Elena is projected to produce in a range of 4.7 to 5.1 million silver equivalent ounces in 2015.
For further information, contact SilverCrest at 1.866.691.1730 FREE or via our website online at www.silvercrestmines.com.
ON BEHALF OF THE BOARD OF FIRST MAJESTIC SILVER CORP.
"Keith Neumeyer"
Keith Neumeyer
President & CEO
ON BEHALF OF THE BOARD OF SILVERCREST MINES INC.
"J. Scott Drever"
J. Scott Drever
CEO