Gatos Silver shareholders vote to adopt First Majestic merger proposal

Gatos Silver (GATO) announced that Gatos Silver’s stockholders have voted to adopt the proposal related to the previously announced merger agreement between First Majestic (AG) and Gatos Silver. The vote was held at Gatos Silver’s special stockholders meeting earlier. The merger resolution was required to be approved by Gatos Silver stockholders representing a majority of the outstanding shares of common stock of Gatos Silver. Approximately 71.3% of the outstanding Gatos Silver shares were voted in favor of the merger resolution. In addition to the approval by Gatos Silver stockholders, First Majestic shareholders approved the issuance of up to 190,000,000 common shares of First Majestic in connection with the merger agreement at its special meeting. Upon the consummation of the merger, Gatos Silver stockholders will receive 2.55 First Majestic shares for each Gatos Silver share held, with any fractional shares to be paid in cash, without interest. The closing of the transaction is expected to occur prior to market open on January 16, subject to the satisfaction or waiver of the remaining customary closing conditions.