Business
Americas Gold and Silver Announces Upsize of Previously Announced Bought Deal Financing to C$35.0 Million
TORONTO, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Americas Gold and Silver Corporation (TSX: USA; NYSE: USAS) (“Americas” or the “Company”) is pleased to announce that
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":" TORONTO, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Americas Gold and Silver Corporation (TSX: USA; NYSE: USAS) (“Americas” or the “Company”) is pleased to announce that in connection with its previously announced bought deal public offering of common shares, the Company and a syndicate of underwriters (the “Underwriters”) co-led by Desjardins Capital Markets and Cormark Securities Inc., have agreed to increase the size of its previously announced offering from C$25,001,220 to C$35,000,164. Pursuant to the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, 9,067,400 common shares of the Company (the “Common Shares”) at a price of C$3.86 per Common Share (the “Offering Price”) for aggregate gross proceeds to Americas of C$35,000,164 (the “Offering”). The Underwriters have been granted an option (the “Over‐Allotment Option”), exercisable in whole or in part, at any time within 30 days following and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Common Shares offered under the Offering at the Offering Price per additional Common Share for market stabilization purposes and to cover over-allotments, if any. The proceeds from the sale of the Common Shares will be used for the exploration, development and/or improvement of the Company’s existing mine properties, including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes. The Offering is scheduled to close on or about September 4, 2020 and is subject to a number of conditions, including receipt of all necessary securities regulatory approvals and the approval of the Toronto Stock Exchange and the NYSE American LLC. The Offering is being made pursuant to a short form prospectus to be filed in all the provinces of Canada excluding Quebec. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within th...