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Mining entrepreneur and silver bull Sprott buys huge stake in First Majestic
First Majestic Announces C$78 Million Bought Deal Investment by Billionaire Eric Sprott
Thursday, September 10, 2020
VANCOUVER, British Columbia, Canada -- First Majestic Silver Corp. is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as underwriter, pursuant to which the underwriter has agreed to purchase, on a bought deal-basis, 5 million common shares of First Majestic at a price of C$15.60 per share for gross proceeds of C$78 million.
The sole investor under the Offering will be Canadian billionaire businessman Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him. This investment will result in Sprott holding approximately 2.3% of First Majestic's issued and outstanding common shares, post-closing.
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Kodiak Drills 282 meters of 0.70% Copper
and 0.49 Grams per Tonne Gold (1.16% CuEq),
Including 45.7 meters of 1.41% Copper
and 1.46 grams per tonne Gold (2.75% CuEq)
Thursday, September 3, 2020
VANCOUVER, British Columbia -- Kodiak Copper Corp. (TSX-V: KDK; OTC: KDKCF) today reported the discovery of a significant high-grade copper-gold extension of the recently discovered Gate Zone at the company's fully owned MPD copper-gold porphyry project in southern British Columbia. The MPD project is accessible year-round from paved highways 5A and 97C.
Chris Taylor, chairman of Kodiak, said: "As compelling as our 2019 discovery of the Gate Zone was, it now appears we had only grazed the margins of a much stronger copper-gold zone that we have now successfully targeted. Our new results include discovery of a central high-grade copper-gold zone within the wider copper-gold mineralized envelope of the Gate Zone. These drill results are among the strongest reported from this well-established copper mining district. Drilling is ongoing and we will be releasing additional results throughout the coming months."
Kodiak President and CEO Claudia Tornquist said: "While we are just beginning to unlock the untapped potential of the MPD project, we view this new discovery as transformative for the project and by extension for Kodiak. Especially remarkable are the new high gold values, which we would have viewed as a successful stand-alone gold discovery in the absence of any copper. Given our 100% ownership of MPD, and its position adjacent to highways with year-round accessibility, we anticipate a very active remainder of 2020 and that 2021 will be our most exciting and productive year so far."
For the remainder of the announcement:
Sprott commented, "We believe there has been a lack of appreciation for First Majestic's equity in 2020 and we are happy to align ourselves with First Majestic President and CEO Keith Newmyer, who recognizes the mispricing of silver in the marketplace and has been a stalwart for silver."
Neumeyer commented: "We are very pleased to welcome Mr. Sprott as a significant shareholder in First Majestic. As a fellow silver bull, Eric has been recognized as one of the most influential leaders within the silver investment community and this deal represents his largest treasury investment in a silver producer, let alone the entire silver space." ...
... For the remainder of the announcement:
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