Americas Gold and Silver Announces Closing of C$33.9 Million Bought Deal Financing
January 29 2021 - 8:45AM
Business Wire
Americas Gold and Silver Corporation (TSX: USA) (NYSE American:
USAS) (the “Company”), a growing North American precious metals
producer, is pleased to announce that it has closed its previously
announced and upsized bought deal financing with a syndicate of
underwriters led by Desjardins Capital Markets and including
Cormark Securities Inc., Stifel GMP, Clarus Securities Inc.,
Laurentian Bank Securities Inc., H.C. Wainwright & Co., LLC,
A.G.P./Alliance Global Partners, and Roth Capital Partners, LLC
(collectively the “Underwriters”). A total of 10,253,128 common
shares of the Company (“Shares”), including the partial exercise of
the over-allotment option by the Underwriters, were sold at a price
of C$3.31 per Share for aggregate gross proceeds to the Company of
C$33,937,854 (the “Offering”).
The net proceeds of the Offering will be used for working
capital purposes at the Company’s Relief Canyon mine as that
operation proceeds towards full production, development and
exploration at the Company’s 60%-owned Galena Complex, care and
maintenance at the Company’s Cosalá Operations, general corporate
and administrative expenses, repayment of outstanding debt
obligations, and working capital purposes, as detailed in the
Prospectus (as defined below).
The Offering was made pursuant to a short form prospectus (the
“Prospectus”) dated January 26, 2021 filed in all the provinces of
Canada excluding Quebec. A copy of the Prospectus is available
under the Company’s profile on SEDAR at www.sedar.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities, in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The securities to be
offered have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities
Act”), or under any U.S. state securities laws, and may not be
offered, sold, directly or indirectly, or delivered within the
“United States” or to, or for the account or benefit of, persons in
the “United States” or “U.S. persons” (as such terms are defined in
Regulation S under the U.S. Securities Act) except in certain
transactions exempt from the registration requirements of the U.S.
Securities Act and all applicable U.S. state securities laws. This
release does not constitute an offer to sell or a solicitation of
an offer to buy such securities in the United States, Canada or in
any other jurisdiction where such offer, solicitation or sale is
unlawful.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious
metals mining company with multiple assets in North America. The
Company’s newest asset, the Relief Canyon mine in Nevada, USA, has
poured first gold and achieved commercial production, and is
expected to ramp up to full production by mid-2021. The Company
also owns and operates the Cosalá Operations in Sinaloa, Mexico,
manages the 60%-owned Galena Complex in Idaho, USA and owns the San
Felipe development project in Sonora, Mexico. For further
information, please see SEDAR or www.americas-gold.com.
Cautionary Statement on Forward-Looking Information:
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"), which reflects
management's expectations regarding the Company's future growth and
business prospects and opportunities. Forward-looking statements
include, without limitation, all disclosure regarding the Offering,
including the anticipated use of proceeds of the Offering, and
possible events, conditions or results of operations, future
economic conditions expectations and anticipated courses of action.
Although the forward-looking statements contained in this press
release reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, such forward-looking
statements are based upon assumptions, opinions and analysis that
management believes to be reasonable and relevant but that may
prove to be incorrect. The Company cautions you not to place undue
reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking
statements include, among others: the inherent risks involved in
exploration and development of mineral properties, including
government approvals and permitting, changes in economic
conditions, state of the financial markets, changes in the
worldwide price of gold and other key inputs, changes in mine plans
and other factors, the impact of the novel coronavirus (COVID-19),
such as project execution delays, many of which are beyond the
control of the Company, as well as other risks and uncertainties
which are more fully described in the Company's Annual Information
Form dated March 9, 2020 and in other filings of the Company with
securities and regulatory authorities which are available on SEDAR
at www.sedar.com. The Company does not undertake any obligation to
update forward-looking statements should assumptions related to
these plans, estimates, projections, beliefs and opinions change.
Nothing in this document should be construed as either an offer to
sell or a solicitation to buy or sell the Company securities. All
references to the Company include its subsidiaries unless the
context requires otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210129005331/en/
Stefan Axell VP, Corporate Development & Communications
Americas Gold and Silver Corporation 416-874-1708 Darren Blasutti
President and CEO Americas Gold and Silver Corporation
416‐848‐9503
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