First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals

First Majestic Silver (TSX:FR) (NYSE:AG) (Frankfurt:FMV) and Primero Mining Corp. (“Primero”) (TSX:P) are pleased to announce that they have entered into a definitive arrangement agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Primero.

Under the terms of the Arrangement Agreement, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares on the basis of 0.03325 of a First Majestic common share for each Primero common share.

Concurrent with execution of the Arrangement Agreement, First Majestic has entered into agreements with Wheaton Precious Metals International, a wholly-owned subsidiary of Wheaton Precious Metals (“WPM”) whereby, following closing of the Arrangement, the current silver streaming interest at Primero’s San Dimas silver-gold mine (“San Dimas”) held by WPM will be terminated and First Majestic and WPM will enter into a new stream arrangement based on 25% of the gold equivalent production at San Dimas (the “New Stream”) with ongoing payments of $600 per gold equivalent ounce delivered under the agreement.

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