Offering finances the San Gonzalo silver, gold, lead and zinc project
By Devika Patel
Knoxville, Tenn., Dec. 10 - Avino Silver & Gold Mines Ltd. said it plans a private placement of units. The deal will raise C$5.13 million.
The company will sell 2.7 million units at C$1.90 apiece for C$3 million. Each unit consists of one common share and one warrant.
Each three-year warrant is exercisable at C$2.50, a 13.64% premium to the Dec. 9 closing share price of C$2.20.
Sprott Asset Management LP is among the investors.
Proceeds will be used to advance the company's San Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general working capital requirements.
Based in Vancouver, B.C., Avino is a silver and gold exploration and acquisition company.
| Issuer: | Avino Silver & Gold Mines Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5.13 million
|
| Units: | 2.7 million
|
| Price: | C$1.90
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$2.50
|
| Investors: | Sprott Asset Management LP
|
| Pricing date: | Dec. 10
|
| Stock symbol: | TSX Venture: ASM
|
| Stock price: | C$2.21 at close Dec. 10
|
| Market capitalization: | C$51.53 million
|
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