Business
Avino Grants Mexican Property Option Agreement to Gray Rock Resources Ltd.
Avino Grants Mexican Property Option Agreement to Gray Rock Resources Ltd. Canada ...
About this update from Avino Silver & Gold Mines Ltd.
[{"type":"text","content":"\n\n\n\nAvino Grants Mexican Property Option Agreement to Gray Rock Resources Ltd.\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.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, Aug. 13, 2020\n\n\n\nASM: TSX/NYSE American\n VANCOUVER, BC, Aug. 13, 2020 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX) (ASM: NYSE American) (FSE: GV6) (\"Avino\" or \"the Company\")  announced today that its board of directors has determined to proceed with an option agreement dated August 12, 2020 (the \"Option Agreement\") with Gray Rock Resources Ltd. (\"Gray Rock\"), as optionee.  Pursuant to the terms of the Option Agreement, Gray Rock was granted the exclusive right to acquire an 100% interest in the Ana Maria and El Laberinto properties in Mexico (the \"Option\"), in consideration of the issuance to Avino of share purchase warrants to acquire 300,000 common shares of Gray Rock at an exercise price of $0.20 per share for a period of 36 months from the date of the TSX Venture Exchange's final acceptance of the Option Agreement  (the \"Approval Date\").  In order to exercise the Option, Gray Rock will:\n1.  Issue to Avino a total of $600,000 in cash or common shares of Gray Rock as follows:\na.\n$50,000 in common shares of Gray Rock within 30 days of the Approval Date;\nb.\nA further $50,000 in cash or shares of Gray Rock at Avino's discretion on or before the first anniversary of the Approval Date; \nc.\nA further $100,000 in cash or shares of Gray Rock at Avino's discretion on or before the second anniversary of the Approval Date; \nd.\nA further $200,000 in cash or shares of Gray Rock at Avi...