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Avino Announces Closing of Bought Deal Offering
Avino Announces Closing of Bought Deal Offering Canada NewsWire VANCOUVER, July ...
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\nAvino Announces Closing of Bought Deal Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 30, 2019\n\n\n\n\n /NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, July 30, 2019 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American/GV6:FSE) (\"Avino\" or the \"Company\") further to the Company's press release dated July 24, 2019, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner and sole underwriter (the \"Underwriter\"), for the issuance of a total of 7,735,360 common shares of the Company for aggregate gross proceeds of $6,900,340, consisting of  5,411,900 common shares (the \"Common Shares\") at the issue price of CDN$0.85 per Common Share, and 2,323,460 common shares which qualify as \"flow-through shares\" as defined under the Income Tax Act (Canada) (the \"FT Shares\") at the issue price of CDN$0.99 per FT Share (collectively, the \"Offering\").   \nThe Underwriter has fully exercised its over-allotment option to purchase 705,900 Common Shares and 303,060 FT Shares (which are included in the gross proceeds above).  The Underwriter received a cash commission of 7.0% of the gross proceeds raised, as well as the issuance of share purchase warrants exercisable to purchase up to 464,122 Common Shares at CDN$0.85 per share until July 30, 2020.\nThe Company intends to use the net proceeds of the Offering to advance the exploration and development of the Company's Avino Mine, in particular further exploration of the Hanging Wall area, and further exploration and development activities on the Bralorne Mine property in British Columbia, and for general working capital.  The Company believes that this capital raise strengthens the Company's balance sheet and is integral to Avino's strategies for future growth.  \nThe Offering was made by way of prospectus supplements dated July 25, 2019 to ...