Sierra Madre and First Majestic Announce Closing of Acquisition of the Del Toro Silver Mine for up to US$60M

First Majestic has closed the sale of its past-producing Del Toro Silver Mine to Sierra Madre Gold and Silver, receiving US$20 million in cash and 10.87 million common shares at closing. The transaction structure includes a US$10 million payment due within 18 months and two additional US$10 million milestone payments contingent on Sierra Madre defining 100 million silver equivalent ounces and achieving commercial production of 4,000 tonnes per day.

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