Company sells units of a common share, a half-share three-year warrant
By Devika Patel
Knoxville, Tenn., Feb. 21 - Avino Silver & Gold Mines Ltd. priced a $5 million public offering of units, according to a prospectus supplement filed Friday with the Securities and Exchange Commission. The offering has a $4.8 million greenshoe.
The company will sell 2,066,115 units of one common share and one half-share warrant at $2.42 per unit, with each whole warrant exercisable at $2.87 for three years. The strike price is a 10.39% premium to the Feb. 20 closing share price of $2.60.
Noble International Investments, Inc. is the agent.
Proceeds will be used for operations, production and development at the Avino mine and working capital.
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 half-share warrant
|
| Amount: | $5 million
|
| Greenshoe: | $4.8 million
|
| Units: | 2,066,115
|
| Price: | $2.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.87
|
| Agent: | Noble International Investments, Inc.
|
| Pricing date: | Feb. 21
|
| Stock symbol: | NYSE: ASM
|
| Stock price: | $2.60 at close Feb. 20
|
| Market capitalization: | $65.35 million
|
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