First Majestic Silver Corp. completes $78 million bought deal financing

First Majestic Silver Corp. (“First Majestic”) completed a bought deal offering of 5,000,000 common shares raising total proceeds of $78 million (gross), with Cormark Securities Inc. acting as sole underwriter. The offering was made by way of a prospectus supplement under the company’s Canadian short form base shelf prospectus.

First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. It presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

First Majestic expects to use the net proceeds of the offering, together with its current cash resources, to develop and improve its existing mines and to add to its working capital.

Bennett Jones LLP was Canadian counsel to First Majestic Silver Corp., with a team including
James Beeby,
Lisa Stewart,
Rita Cherevychko.

Todd y Asociados was Mexican counsel to First Majestic Silver Corp., with a team including
Fernando Todd Dip,
Jorge García Díaz.

Cassels Brock & Blackwell LLP was Canadian counsel to Cormark Securities Inc., with a team including
Chad Accursi,
James Lyle,
Tiffany Chiu,
Heesoo Kim,
Lauren Grossman.

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