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News
02.07.2012
Silvermex Receives Final Court Order Approving Plan of Arrangement
Silvermex Receives Final Court Order Approving Plan of Arrangement
Vancouver, BC, Canada -- June 28, 2012 -- Silvermex Resources Inc. ("Silvermex") (TSX: SLX) is pleased to announce that the Supreme Court of British Columbia has issued a final order approving the plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) involving Silvermex and First Majestic Silver Corp. ("First Majestic"). Among other things, the Arrangement provides for the acquisition by First Majestic of all of the issued and outstanding common shares of Silvermex, with each Silvermex shareholder receiving 0.0355 common shares of First Majestic for each Silvermex common share.
The Arrangement is expected to be completed on or about July 3, 2012, subject to customary regulatory consents and other approvals.
Further details regarding the Arrangement are set out in Silvermex's Notice of Annual and Special Meeting and Management Information Circular dated May 22, 2012 which are available at www.sedar.com.
Company Profile
Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly qualified team of professionals from some of the most notable companies in the silver mining sector. The Company's portfolio of projects ranges from early stage exploration to production. Its core asset is the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico. Silvermex is currently working to identify future production centers through extensive exploration programs to further develop the district. Silvermex is well financed to further develop resources organically from its multiple projects as well as from the acquisition of additional assets that will drive production growth.
ON BEHALF OF THE BOARD
"Duane Nelson"
Duane Nelson
CEO & Director
For more information please visit the Company's website at www.silvermexresources.com or contact Fiona Grant, Manager, Investor Relations at 604-682-4004.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Management has assumed that these will be our major projects going forward. Risks include that we are unable to satisfy environmental or other regulators, that we determine that our resources are not commercially viable, or that we have difficulties due to unavailability of labour or equipment.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.
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Vancouver, BC, Canada -- June 28, 2012 -- Silvermex Resources Inc. ("Silvermex") (TSX: SLX) is pleased to announce that the Supreme Court of British Columbia has issued a final order approving the plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) involving Silvermex and First Majestic Silver Corp. ("First Majestic"). Among other things, the Arrangement provides for the acquisition by First Majestic of all of the issued and outstanding common shares of Silvermex, with each Silvermex shareholder receiving 0.0355 common shares of First Majestic for each Silvermex common share.
The Arrangement is expected to be completed on or about July 3, 2012, subject to customary regulatory consents and other approvals.
Further details regarding the Arrangement are set out in Silvermex's Notice of Annual and Special Meeting and Management Information Circular dated May 22, 2012 which are available at www.sedar.com.
Company Profile
Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly qualified team of professionals from some of the most notable companies in the silver mining sector. The Company's portfolio of projects ranges from early stage exploration to production. Its core asset is the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico. Silvermex is currently working to identify future production centers through extensive exploration programs to further develop the district. Silvermex is well financed to further develop resources organically from its multiple projects as well as from the acquisition of additional assets that will drive production growth.
ON BEHALF OF THE BOARD
"Duane Nelson"
Duane Nelson
CEO & Director
For more information please visit the Company's website at www.silvermexresources.com or contact Fiona Grant, Manager, Investor Relations at 604-682-4004.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements. Management has assumed that these will be our major projects going forward. Risks include that we are unable to satisfy environmental or other regulators, that we determine that our resources are not commercially viable, or that we have difficulties due to unavailability of labour or equipment.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggests herein. Except as required by applicable law the Company does not intend to update any forward-looking statements to conform these statements to actual results.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8284271043">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8284271043</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.