First Majestic Resource Corp.

CDN$15 Million Brokered Private Placement

    Vancouver, Canada (ots/PRNewswire) - First Majestic Resource Corp. (the "Company") is pleased to announce a  brokered private placement offering of 6.0 million units ("Units") of the  Company at a price of CDN$2.50 per Unit (the "Offering"). Each Unit will  consist of one common share (a "Unit Share") and one-half of one common  share purchase warrant (a "Warrant"), with a full Warrant entitling the holder to purchase one additional common share of the Company ("Warrant  Shares") at an exercise price of CDN$3.00 per Warrant Share for a period of  two years after the closing of the Offering. The Offering is expected to  close on or about April 22, 2005. Completion of the Offering is subject to  receipt by the Company of all necessary regulatory approvals. The  securities to be issued under the Offering will be subject to a four-month  hold period.

    Jennings Capital Inc. (the "Agent") will act as the lead agent for the  Offering. The Agent has the option to increase the size of the Offering by  an additional 1.0 million Units, thereby increasing the Offering to 7.0  million Units for total gross proceeds to the Company of CDN$17.5 million.  The Agent will receive a cash commission equal to 7% of the gross proceeds  raised under the Offering. In addition, the Company has agreed to issue to  the Agents at closing, broker warrants entitling the Agents, for a period  of 24 months from the closing of the Offering, to acquire that number of Common Shares of the Company ("Broker Shares") that is equal to 7% of the  number of Units sold under the Offering, exercisable at a price of CDN$2.50  per Broker Share.

    The Company plans to use the net proceeds of the Offering to advance  development and exploration at Company's La Parrilla Silver Mine, the  Candamena, Dios Padre and Chalchihuites properties in Mexico.



    Keith Neumeyer


    This Press release shall not constitute an offer to sell of the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be  unlawful. The securities have not been registered under the United States  Securities Act of 1933, as amended, and may not be offered or sold in the  United States absent registration or an applicable exemption from the  registration requirements.

    This press release includes certain "Forward-Looking Statements" within  the meaning of section 21E of the United States Securities Exchange Act of  1934, as amended. All statements, other than statements of historical fact,  included herein, including without limitation, statements regarding  potential mineralization and reserves, exploration results and future plans  and objectives of First Majestic Resource Corp. are forward-looking  statements that involve various risks and uncertainties. There can be no  assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such  statements. The TSX Venture Exchange has in no way passed upon the merits  of the proposed transaction and the TSX Venture Exchange does not accept  responsibility for the adequacy or accuracy of this release.

ots Originaltext: First Majestic Resource Corp.
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For further information: FIRST MAJESTIC RESOURCE CORP., Suite 1480 -
885 West Georgia Street, Vancouver, BC, Canada V6C 3E8, Telephone:
+1-(604)-688-3033, Fax: +1-(604)-601-2010, Web site:, E-mail:

Weitere Meldungen: First Majestic Resource Corp.

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