Ivanhoe’s Kipushi zinc mine in the DRC officially reopens
The restart marked exactly a century since the mine first went into production.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 16, 2012) – First Majestic Silver Corp. (“First Majestic”) (TSX:FR)(NYSE:AG)(FRANKFURT:FMV) and Orko Silver Corp. (“Orko”) (TSX VENTURE:OK)(PINKSHEETS:OKOFF)(FRANKFURT:OG3) are pleased to announce that the companies have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of Orko for consideration of 0.1202 of a common share of First Majestic (the “Exchange Ratio”) plus $0.0001 in cash per Orko common share. The offer implies a value of C$2.72 per Orko share based on the closing prices of both First Majestic and Orko’s common shares on the Toronto Stock Exchange (“TSX”) and TSX Venture Exchange, respectively, on December 14, 2012. The offer represents a premium of approximately 69% to Orko’s 30-day volume-weighted average price (“VWAP”) for the period ending December 14, 2012. The transaction will be implemented by way of a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia).
