First Majestic Silver Corp. and Gatos Silver, Inc. announced they have entered into a definitive merger agreement pursuant to which First Majestic will acquire all of the issued and outstanding common shares of Gatos, in a transaction valued at US$970 million.
First Majestic presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine, all located in Mexico.
Gatos is a silver dominant producer with a 70% interest in the Los Gatos Joint Venture, which owns the producing Cerro Los Gatos underground silver mine in Chihuahua, Mexico.
Bennett Jones acted as legal advisor to First Majestic on the transaction.
The Bennett Jones team included James Beeby, Lisa Stewart, Jeff Taylor, Claire Lingley, Madison Sutherland (M&A), Anu Nijhawan, Marshall Haughey (Tax) and Simon Grant (Financial Services).
Bennett Jones