First Majestic Announces Voting Results from Annual General Meeting
May 26 2017 - 1:57PM
First Majestic Silver Corp. (NYSE:AG) (TSX:FR) (“First
Majestic” or the “Company”) is pleased to announce the voting
results for the election of its Board of Directors at its annual
general meeting held on May 25, 2017.
A total of 81,472,101 shares were represented at
the meeting, being 49.36% of the Company’s issued and outstanding
common shares. Shareholders voted in favour of all matters brought
before the meeting and the election of directors was approved by a
majority vote of shareholders present in person or represented by
proxy as follows:
Election of Directors
Director Nominee |
|
Votes For |
|
% For |
|
Votes Withheld |
|
% Withheld |
Keith Neumeyer |
|
38,793,105 |
|
98.55 |
|
569,376 |
|
1.45 |
Douglas Penrose |
|
38,625,703 |
|
98.13 |
|
736,777 |
|
1.87 |
Robert McCallum |
|
38,490,678 |
|
97.79 |
|
871,802 |
|
2.21 |
Marjorie Co |
|
38,915,163 |
|
98.86 |
|
447,318 |
|
1.14 |
David Shaw |
|
38,584,414 |
|
98.02 |
|
778,066 |
|
1.98 |
Executive Compensation Advisory
Vote
The advisory resolution on the Company’s
approach to executive compensation as outlined in the Circular was
approved by a majority vote of shareholders present in person or
represented by proxy as follows:
Votes For |
|
% For |
|
Votes Against |
|
% Against |
36,539,752 |
|
92.83 |
|
2,822,729 |
|
7.17 |
In addition, the Company reports the
re-appointment of Deloitte LLP as auditors for the Company and the
amended and restated stock option plan were both approved by the
affirmative vote of a majority of the votes represented at the
Meeting.
The Company also announced that Tony Pezzotti is
retiring from the Board of Directors. Mr. Pezzotti, a director of
the Company since 2001, decided to retire to devote more time to
his family and other personal responsibilities. “Having been
a director of First Majestic since its infancy, I take tremendous
pride in what the Company has achieved over the past 16 years and
in having worked with such a talented and dynamic group of
individuals towards building a world-class silver mining company,”
said Mr. Pezzotti. “I’d like to thank the board, senior management
and the entire First Majestic team for their dedication over the
years and wish them every success in all their future
endeavors.”
“We thank Tony for his long-term contribution to
First Majestic and wish him all the best,” said Keith Neumeyer, CEO
and President of First Majestic.
About the Company
First Majestic is a 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 six producing silver mines; the La
Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada
Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and
the Santa Elena Silver/Gold Mine. Production from these six mines
is projected to be between 11.1 to 12.4 million ounces of pure
silver or 16.6 to 18.5 million ounces of silver equivalents in
2017.
FOR FURTHER INFORMATION contact
info@firstmajestic.com, 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
SPECIAL NOTE REGARDING FORWARD‐LOOKING
INFORMATIONThis news release includes certain "Forward-Looking
Statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. When used in this news release, the words
“anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”,
“forecast”, “may”, “schedule” and similar words or expressions,
identify forward-looking statements or information. These
forward-looking statements or information relate to, among other
things: the price of silver and other metals; the accuracy of
mineral reserve and resource estimates and estimates of future
production and costs of production at our properties; estimated
production rates for silver and other payable metals produced by
us, the estimated cost of development of our development projects;
the effects of laws, regulations and government policies on our
operations, including, without limitation, the laws in Mexico which
currently have significant restrictions related to mining;
obtaining or maintaining necessary permits, licences and approvals
from government authorities; and continued access to necessary
infrastructure, including, without limitation, access to power,
land, water and roads to carry on activities as planned.
These statements reflect the Company’s current
views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements or
information and the Company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: fluctuations in the spot and forward price of
silver, gold, base metals or certain other commodities (such as
natural gas, fuel oil and electricity); fluctuations in the
currency markets (such as the Canadian dollar and Mexican peso
versus the U.S. dollar); changes in national and local government,
legislation, taxation, controls, regulations and political or
economic developments in Canada, Mexico; operating or technical
difficulties in connection with mining or development activities;
risks and hazards associated with the business of mineral
exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins and flooding); risks relating to the credit
worthiness or financial condition of suppliers, refiners and other
parties with whom the Company does business; inability to obtain
adequate insurance to cover risks and hazards; and the presence of
laws and regulations that may impose restrictions on mining,
including those currently enacted in Mexico; employee relations;
relationships with and claims by local communities and indigenous
populations; availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses, permits and approvals from government
authorities; diminishing quantities or grades of mineral reserves
as properties are mined; the Company’s title to properties; and the
factors identified under the caption “Risk Factors” in the
Company’s Annual Information Form, under the caption “Risks
Relating to First Majestic's Business”.
Investors are cautioned against attributing
undue certainty to forward-looking statements or information.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be anticipated, estimated
or intended. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements or
information, other than as required by applicable law.
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