First Majestic Silver Corp.

10:37 AM EST - First Majestic Silver Corp. : Has closed its previously announced transaction to sell its 100% owned past producing La Guitarra Silver Mine to Sierra Madre Gold & Silver Ltd. following the receipt of approval from the Comisión Federal de Competencia Económica (COFECE) and the TSX Venture Exchange as well as the completion of other customary closing conditions. In consideration of the sale, First Majestic received 69,063,076 shares of Sierra Madre at a deemed price of CDN$0.65 per share for an approximate value of CDN$44.9 million or US$35.0 million. First Majestic Silver Corp. shares T.FR are trading up $0.12 at $9.45.

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