Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that it has entered into an Asset Purchase Agreement dated December 7, 2022 to sell its 100% owned past producing La Parrilla Silver Mine located in the state of Durango, Mexico to Golden Tag Resources Ltd. (TSXV: GOG) ("Golden Tag") for total consideration of up to US$33.5 million (the "Transaction").

On closing of the Transaction, First Majestic will receive 143,673,684 Golden Tag shares at a deemed price of CDN$0.19 per share having an aggregate value of US$20.0 million (the "Consideration Shares") and representing approximately 40% of the outstanding shares in Golden Tag. First Majestic will receive up to US$13.5 million (see terms below) in the form of three milestone payments in either cash or shares in Golden Tag with the share price and number of shares to be determined upon the anniversary date (where applicable).

see & read more on
https://firstmajestic.com/investors/news-releases/first-majestic-announces-proposed-sale-of-the-la-parrilla-silver-mine-for-up-to-us335-million