Thursday, October 22, 2026
MiningNewsTerminal
Thursday, October 22, 2026 Admin

AG.TO ·

Toronto–FR Frankfurt–FMV

Financings

�

New�York�–�AG�� �� �������September�17,�2020� Toronto�–�FR� Frankfurt�–�FMV��

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott

Vancouver,�BC,�Canada���FIRST�MAJESTIC�SILVER�CORP.�(AG:�NYSE;�FR:�TSX)�(the�"Company"�or�“First�Majestic”)� is�pleased�to�report�that�it�has�closed�the�previously�announced�bought�deal�with�Eric�Sprott,�through�2176423� Ontario�Ltd.,�a�corporation�beneficially�controlled�by�himself.�

The�Company�issued�an�aggregate�of�5,000,000�common�shares�of�First�Majestic�(the�“Common�Shares”),�on�a� bought�deal�basis,�at�a�price�of�CDN$15.60�per�Common�Share�for�gross�proceeds�of�CDN$78,000,000�(the� “Offering”)�pursuant�to�an�underwriting�agreement�dated�September�14,�2020�entered�into�between�the� Company�and�Cormark�Securities�Inc.,�as�underwriter.�

The�Company�intends�to�use�the�net�proceeds�of�the�Offering,�together�with�the�Company’s�current�cash� resources,�to�develop�mining�projects�and/or�improve�the�Company's�existing�mines�and�to�add�to�the�Company's� working�capital.�

The�Offering�was�made�by�way�of�a�prospectus�supplement�(the�“Prospectus�Supplement”)�under�the�Company’s� existing�Canadian�short�form�base�shelf�prospectus�(the�“Base�Shelf�Prospectus”)�dated�November�5,�2018.�The� Prospectus�Supplement�has�been�filed�in�all�of�the�provinces�of�Canada�other�than�Québec�and,�together�with� the�related�Base�Shelf�Prospectus,�is�available�on�SEDAR�at�www.sedar.com.�

ABOUT�THE�COMPANY�

First�Majestic�is�a�publicly�traded�mining�company�focused�on�silver�production�in�Mexico�and�is�aggressively� pursuing�the�development�of�its�existing�mineral�property�assets.�The�Company�presently�owns�and�operates�the�

SanDimasSilver/GoldMine,theSantaElenaSilver/GoldMineandtheLaEncantadaSilverMine.Production
fromtheseminesareprojectedtobebetween11.0to11.7millionsilverouncesor21.4to22.9million
silverequivalentouncesin2020.

FOR�FURTHER�INFORMATION�contact�[email protected],�visit�our�website�at�www.firstmajestic.com�or�call� our�toll�free�number�1.866.529.2807.�

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer, President & CEO

Forward�Looking�Statements��

This�press�release�contains�“forward�looking�statements”,�within�the�meaning�of�the�United�States�Private�Securities�Litigation�Reform�Act�of�1995�or� forward�looking�information�within�the�meaning�of�applicable�Canadian�securities�legislation,�concerning�the�business,�operations�and�financial� performance�and�condition�of�First�Majestic�Silver�Corp.�Forward�looking�statements�also�include�statements�with�respect�to��the�proposed�use�of�proceeds� of�the�Offering�Generally,�these�forward�looking�statements�can�be�identified�by�the�use�of�forward�looking�terminology�such�as�“plans”,�“expects”�or� “does�not�expect”,�“is�expected”,�“budget”,�“scheduled”,�“estimates”,�“forecasts”,�“intends”,�“anticipates”�or�“does�not�anticipate”,�or�“believes”,�or� variations�of�such�words�and�phrases�or�state�that�certain�actions,�events�or�results�“may”,�“could”,�“would”,�“might”�or�“will�be�taken”,�“occur”�or�“be� achieved”.�Forward�looking�statements�are�subject�to�known�and�unknown�risks,�uncertainties�and�other�factors�that�may�cause�the�actual�results,�level� of�activity,�performance�or�achievements�of�First�Majestic�Silver�Corp.�to�be�materially�different�from�those�expressed�or�implied�by�such�forward�looking� statements,�including�but�not�limited�to:�failure�to�obtain�regulatory�approval�of�the�Offering;�the�occurrence�of�a�material�adverse�change,�disaster,�change� of�law�or�;�risks�related�to�international�operations;��actual�results�of�current�exploration�activities;�actual�results�of�current�reclamation�activities;� conclusions�of�economic�evaluations;�changes�in�project�parameters�as�plans�continue�to�be�refined;�future�prices�of�metals;�possible�variations�in�ore� reserves,�grade�or�recovery�rates;�failure�of�plant,�equipment�or�processes�to�operate�as�anticipated;�accidents,�labour�disputes�and�other�risks�of�the� mining�industry;�delays�in�obtaining�governmental�approvals�or�financing�or�in�the�completion�of�development�or�construction�activities,�as�well�as�those� factors�discussed�in�the�section�entitled�“Description�of�Business���Risk�Factors”�in�First�Majestic�Silver�Corp.’s�Annual�Information�Form�for�the�year�ended� December�31,�2019,�available�on�www.sedar.com,�and�Form�40�F�on�file�with�the�United�States�Securities�and�Exchange�Commission�in�Washington,�D.C.� Although�First�Majestic�Silver�Corp.�has�attempted�to�identify�important�factors�that�could�cause�actual�results�to�differ�materially�from�those�contained�in� forward�looking�statements,�there�may�be�other�factors�that�cause�results�not�to�be�as�anticipated,�estimated�or�intended.�There�can�be�no�assurance�that� such�statements�will�prove�to�be�accurate,�as�actual�results�and�future�events�could�differ�materially�from�those�anticipated�in�such�statements.�Accordingly,� readers�should�not�place�undue�reliance�on�forward�looking�statements.�First�Majestic�Silver�Corp.�does�not�undertake�to�update�any�forward�looking� statements�that�are�incorporated�by�reference�herein,�except�in�accordance�with�applicable�securities�laws.� ��

2� �