Category: Investor’s Corner

Torex Gold Resources Inc. has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 4,370,000 common shares at a price of C$12.60 per Common Share for gross proceeds of approximately C$55 million. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 7, 2018 and is subject to the Company receiving all necessary regulatory approvals.

First Majestic Silver Corp. announced today the closing of its previously announced offering of US$150 million aggregate principal amount of 1.875% unsecured convertible senior notes due 2023. The initial conversion rate for the Notes is 104.3297 common shares per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$9.59 per Share.

Martin Rosser, Chief Executive Officer, said: “The technology described in the patent has significant potential application in Canada, both for sulphide deposits and for converting sulphide concentrates, the source of the majority of the world’s base metals production and resources, through to metal at the mine site.”

“This year will be transformative for Americas Silver with the San Rafael Mine and mill ramping up to full capacity by the middle of the year,” said Americas Silver President and CEO Darren Blasutti. “We are expecting record free cash flow, earnings, and silver equivalent production for the Company as we become one of the lowest all-in sustaining cost producers in the silver industry.”

Fred Stanford, President & CEO of Torex stated: “We appreciate the actions taken by the State Government, supported by the Federal Government, to restore law and order to the region in a peaceful manner. We preferred a negotiated solution, but, this is the next best thing.” He added – “We also thank the communities of Nuevo Balsas and Valerio Trujano, whose support has been instrumental in getting the ELG Mine Complex re-started. We are pleased so many employees from these communities have been able to return to work, and we look forward to welcoming the rest of the team back as services to manage accommodations are restored. A special thanks to our security teams for their courage and commitment, and for the hardships they have endured over the past three months. In addition, it should be noted that our start-up teams returned to an uncertain environment and accomplished so much. We are all proud of what the Torex/MML teams have built and accomplished in Guerrero State and look forward to continuing to build prosperity for so many moving forward.”

“We are excited to announce an almost doubling of the estimated Measured and Indicated Mineral Resource at the GMC to over 13 million silver equivalent ounces,” stated James Bannantine, President & CEO. “This is a strong testament to our ability to continue to develop new mineral resources at the GMC and expand its potential. In this regard, we have over 24,000 metres of drilling planned for the GMC in 2018, which we believe will continue to add to the mineral resource inventory.”

First Majestic Silver Corp. announced today that it has priced its previously announced offering of unsecured convertible senior notes due 2023. The Company will issue US$150 million aggregate principal amount of Notes (or US$172.5 million aggregate principal amount if the over-allotment option is exercised in full). The Notes will be issued at par value.

Bradford Cooke, Endeavour CEO, commented, “We are looking forward to a much better year, with higher production and lower costs in 2018, owing to improved operating performance at each of the three existing mines and the development of our fourth mine into commercial production.”

Further to its news release of January 17, 2018, Torex Gold Resources Inc. announces that it has filed a final short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada, except Québec. The base shelf prospectus will allow Torex to make offerings of up to $500 million of common shares, debt securities, subscription receipts, warrants and units or any combination thereof during a 25 month period. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this base shelf prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.

First Majestic Silver Corp. announced today that it is offering US$150 million aggregate principal amount of unsecured convertible senior notes due 2023 pursuant to private placement exemptions. The Company intends to use the net proceeds of the Offering to fund certain costs and expenses associated with the recently announced acquisition of Primero Mining Corp. and for general corporate purposes and, if the acquisition is not consummated, for general corporate purposes. If the acquisition of Primero is not completed, the Company expects that the terms of the Notes will permit the Company, at its option, to redeem the Notes.