Avino files prospectus to raise up to $25M (U.S.)
2021-01-29 17:49 ET - News Release
Mr. David Wolfin reports
AVINO ANNOUNCES US ATM SHARE OFFERING OF UP TO US$25.0 MILLION
Avino Silver & Gold Mines Ltd. has filed a new short form base shelf prospectus dated Jan. 25, 2021, and prospectus supplement dated Jan. 27, 2021, in Canada, pursuant to which Avino may distribute common shares from time to time pursuant to a sales agreement dated Jan. 13, 2021, with Cantor Fitzgerald & Co., H.C. Wainwright & Co. LLC, Roth Capital Partners LLC and AGP/Alliance Global Partners, as agents or as principals, for the distribution of the offered shares in the United States up to the aggregate sales amount of $25.0-million (U.S.), in accordance with the terms of the sales agreement. The offering is being made in the United States under the terms of a registration statement on Form F-3 (SEC file No. 333-252081) filed with, and declared effective on Jan. 29, 2021, by, the Securities and Exchange Commission in the United States, and the base shelf prospectus and prospectus supplement filed in each province of Canada, except Quebec.
The sales of the offered shares will be made directly on the New York Stock Exchange American, and will be deemed sales of offered shares under the prospectus in transactions that are deemed to be "at-the-market distributions" as defined in National Instrument 44-102 -- Shelf Distributions. The offered shares will be distributed at the market prices prevailing at the time of sale. As a result, prices may vary as between purchasers and during the period of distribution. The period of distribution will be until the maximum amount has been achieved, unless terminated earlier under the terms of the sales agreement.
The company has agreed to pay the agents a cash commission up to 3.0 per cent of the gross proceeds of the offering.
The prospectus supplement relating to the offering, together with the base shelf prospectus and the registration statement, will be filed with the securities commissions in all of the provinces of Canada, except Quebec, and the registration statement previously filed with the SEC. The offering documents will contain important detailed information about the securities being offered. Before you invest, you should read the offering documents and the other documents the company has filed for more complete information about the company and the offering. Copies of the sales agreement and the offering documents will be available for free by visiting the company's profiles on SEDAR or the SEC's website.
About Avino Silver & Gold Mines Ltd.
Avino is primarily a silver producer with a diversified pipeline of silver, gold and base metal properties in Mexico. Avino produces from its wholly owned Avino mine near Durango, Mexico. The company's silver and gold production remains unhedged. The company's mission and strategy are to create shareholder value through its focus on profitable organic growth at the historic Avino property and the strategic acquisition of mineral exploration and mining properties. The company is committed to managing all business activities in a safe, environmentally responsible and cost-effective manner, while contributing to the well-being of the communities in which it operates.
We seek Safe Harbor.
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