Avino Negotiates Sale of Bralorne Gold Mines Ltd. to Talisker Resources Ltd.

About this update from Avino Silver & Gold Mines Ltd.

[{"type":"text","content":"\n\n\n\nAvino Negotiates Sale of Bralorne Gold Mines Ltd. to Talisker 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.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.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 21, 2019\n\n\n\nVANCOUVER, Nov. 21, 2019 /CNW/ - Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE), (\"Avino\" or \"the Company\") is pleased to announce that it has entered into a definitive agreement with Talisker Resources Ltd. (\"Talisker\") for the sale of all of the issued and outstanding shares of Bralorne Gold Mines Ltd. (\"Bralorne\") to Talisker (the \"Transaction\") on the closing date of the Transaction (the \"Closing Date\"), for:\n(i)\nA cash consideration of C$8.7 million;\n(ii)\nThe issuance of common shares equal to 9.9% of the outstanding common shares of Talisker pro forma for the completion of the Transaction following any required equity financing;\n(iii)\nThe issuance of warrants equal to 50% of the number of shares issued in the above, exercisable at $0.25 per share for a period of three years after the Closing Date;\n(iv)\nA cash payment of US$2.5 million, upon the commencement of commercial production at the Bralorne Mine and\n(v)\nThe transfer of all future restoration and reclamation obligation liabilities to Talisker.\n \nDavid Wolfin, President and Chief Executive Officer of Avino commented, \"We are pleased to announce this agreement with Talisker to transfer Avino's ownership of Bralorne while retaining material economic exposure to the project through a significant equity investment in Talisker and the contingent cash payment pay...

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