Earlier this month, shareholders voted in favour of a resolution to approve the proposed acquisition of all the issued and outstanding shares of
Highlights of
Historical Measured and Indicated Mineral Resources of approximately 7.45 million ounces ('oz') of silver-equivalent ('AgEq') and Historical Inferred Mineral Resources of approximately 10.02 million oz AgEq, based on 128,671 metres of drilling[1]
Functional and expandable 500 tonnes-per-day crushing grinding and flotation facility
Fully permitted for underground mining
Currently on care and maintenance, available for prompt restart
Exploration potential over 15 kilometres of known structures that are untested
Positive community relations with local stakeholders
First Majestic to become Strategic and Largest Shareholder of Sierra Madre
About Sierra Madre
Contact:
President
Chief Executive Officer and Director
E: investor@sierramadregoldandsilver.com
Cautionary Note
Neither the
This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to the completion of the Transaction on the terms set out in the definitive agreement (or at all) and the ability of the Company to obtain requisite corporate and regulatory approvals for the Transaction, including but not limited to the approval of the Exchange, Mexican antitrust approval and other governmental approvals as currently anticipated.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company will be able to receive all required regulatory approvals by the timelines currently anticipated (or at all); and that the Company will be able to complete the Transaction on the terms of the definitive agreement. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is not able to complete Transaction on the terms set out in the definitive agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and regulatory approvals, including but not limited to the approval of the
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
[1] These are historical estimates only and are not NI 43-101 compliant mineral resources. For further information regarding the historical mineral resource estimates, please refer to the Company's news release dated
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