First Majestic Enters into Definitive Agreement to Sell its San Martin Silver Mine for Total Proceeds of US$90 Million

First Majestic agreed to sell its dormant San Martin Silver Mine to Flextronics Supply and Service for total proceeds of US$90 million. The payment structure is heavily back-loaded, consisting of US$2.5 million at closing, a further US$2.5 million within 180 days, US$10 million annually for five years, and a US$35 million lump sum due in 2032.

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