First Majestic Silver has completed its acquisition of Gatos Silver, the company announced, with 98.44% of First Majestic’s shareholders and 99.23% of Gatos Silver’s stockholders voting in favor.
Under the terms of the merger agreement, First Majestic has acquired all issued and outstanding shares of Gatos Silver, making it a wholly-owned subsidiary.
The takeover was first announced om September 2024
“With the closing of this transaction, First Majestic is integrating a high-quality, long-life and positive free cash flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost profile combined with meaningful exploration potential,” said president and CEO Keith Neumeyer.
“Over the coming quarters, we will continue to communicate our plans for Cerro Los Gatos, which will include ways to realize synergies and integration throughout the business. I would like to welcome our joint venture partner Dowa Metals and Mining, whom we look forward to working with closely at Cerro Los Gatos as a supportive and trusted partner.”
With the transaction complete, Gatos Silver shares will cease trading and be delisted from the New York Stock Exchange and the Toronto Stock Exchange.
Source: firstmajestic.com