Business
Avino Announces Pricing of US$4 Million Underwritten Public Offering
Avino Announces Pricing of US$4 Million Underwritten Public Offering Canada NewsWi...
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\nAvino Announces Pricing of US$4 Million Underwritten Public 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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 21, 2018\n\n\n\nVANCOUVER, Sept. 21, 2018 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM:TSX/NYSE American; FSE:GV6, \"Avino\" or \"the Company\") today announced that it has priced an underwritten public offering of an aggregate of 6,239,867 common shares of the Company, together with warrants to purchase up to 6,239,867 common shares of the Company, at a public offering price of US$0.65 per share and associated warrant to purchase one common share. Each warrant will have an exercise price of US$0.80 and will expire five years from the date of issuance.\nH.C. Wainwright & Co. is acting as the sole book-running manager for the offering.  Roth Capital Partners is acting as co-manager for the offering.\nAvino has also granted the underwriters a 45-day option to purchase up to 935,979 additional common shares and/or additional warrants to purchase up to 935,979 common shares, at the public offering price, less underwriting discounts and commissions.  The gross proceeds to the Company from this offering are expected to be US$4 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Avino, assuming no exercise of the underwriters' option to purchase additional securities and none of the warrants issued in this offering are exercised. The offering is expected to close on or about on September 25, 2018, subject to the satisfaction of customary closing conditions, including acceptance of the listing of the common shares by the NYSE American and the Toronto Stock Exchange. \nThe Company intends to use the net proceeds from the offering primarily for advancing the development of the Avino mine and its operations and production, and to a lesser extent for the exploration and development of the Bralorne Mine Property, and for general working capital.\nThe shares and warrants are being offered pursuant to an effective shelf registration statemen...