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MAG Silver Announces US$44 Million Private Placement

  • Financing

TSX: MAG
www.magsilver.com

Mr. George Paspalas reports:

VANCOUVER, British Columbia, Nov. 15, 2017 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX:MAG) (NYSE AMERICAN:MAG) (“MAG”) is pleased to announce that it will undertake with some existing shareholders, a non-brokered private placement offering of up to 4,202,483 common shares of MAG (the “Common Shares”) at a price of US$10.47 per Common Share for maximum gross proceeds of US$43,999,997 (the “Offering”).

MAG intends to use the net proceeds of the Offering to fund exploration and development of the Juanicipio Project and for working capital and general corporate purposes. The Offering is expected to close on or before November 28, 2017, subject to receipt of all necessary regulatory approvals, including approval of the Toronto Stock Exchange.

Any securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering.

The securities to be issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of MAG’s securities in the United States.

About MAG Silver Corp.

MAG Silver Corp. is a Canadian exploration and development company focused on becoming a top‐tier primary silver mining company, by exploring and advancing high‐grade, district scale, silver‐dominant projects in the Americas. Our principal focus and asset is the Juanicipio Property (44%), being developed in partnership with Fresnillo Plc (56%) and is located in the Fresnillo Silver District in Mexico, the world’s premier silver mining camp. We are presently developing the underground infrastructure on the property, under the operational expertise of our joint venture partner, Fresnillo plc, to support an expected 4,000 tonnes per day mining operation. As well, we have an expanded exploration program in place investigating other highly prospective targets across the property. In addition, we continue to work on regaining surface access to our 100% owned Cinco de Mayo property in Mexico while we seek other high grade, district scale opportunities.

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MAG Silver

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Last Trade: C$11.99
Daily Change: 0.13 1.10
Daily Volume: 206,947
Market Cap: C$1.040B
November 13, 2018
MAG Silver Reports Third Quarter Financial Results
August 14, 2018
MAG Silver Reports Second Quarter Financial Results
June 14, 2018
MAG Reports AGSM Results
May 15, 2018
MAG Silver Reports First Quarter Financial Results
March 27, 2018
MAG Silver Reports 2017 Annual Results
January 23, 2018
MAG Silver: Acquisition of Units of Group Eleven Resources Corp.
November 28, 2017
MAG Silver Announces Closing of US$48 Million Private Placement
November 13, 2017
MAG Silver Reports Q3 2017 Financial Results
November 07, 2017
MAG Silver and Fresnillo plc Announce PEA Results for Juanicipio JV Project
August 11, 2017
MAG Silver Reports Q2 2017 Financial Results
June 16, 2017
MAG Silver Reports AGSM Results
May 12, 2017
MAG Silver Reports Q1 2017 Financial Results
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Miramont Resources

Miramont Resources

Miramont Resources is a Canadian-based exploration company with two highly prospective projects in southern Peru. The Cerro Hermoso property hosts a 1.4 km diameter breccia pipe targeting Au, Ag and Cu, Pb and Zn, while the Lukkacha property is host to a large alteration system typical of major porphyry copper deposits. Miramont plans to aggressively drill high-priority targets in 2019. The Company is led by a proven management team with a long history of exploration success and extensive... VIEW PROFILE

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