Avino Closes U.S. ATM Brokered Public Offering
February 20 2014 - 8:00AM
Marketwired
Avino Closes U.S. ATM Brokered Public Offering
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 20, 2014) -
Avino Silver & Gold Mines Ltd.
(TSX-VENTURE:ASM)(NYSEMKT:ASM)(BERLIN:GV6)(FRANKFURT:GV6) ("Avino"
or "the Company") is pleased to announce the completion of the
previously announced at-the-market ("ATM") brokered public offering
in the United States (the "Offering") with Cantor Fitzgerald &
Co. of New York (the "Agent"). A total of USD$5,741,668 in gross
proceeds was raised through the sale of 2,540,709 common shares
(the "Shares").
The funds raised from the sale of Shares will be used for
advancing the development of the Company's Avino mine property and
its mining operations in Mexico, as well as Avino's general working
capital requirements.
The Offering was an "ATM" public offering in the United States
of registered securities by way of a Form F-3 Registration
Statement, base prospectus, and prospectus supplement filed with
the U.S. Securities and Exchange Commission. Copies of the
Registration Statement and prospectus are available under the
Company's profile on SEDAR at www.sedar.com.
"We are very pleased with the outcome of the ATM financing,
in particular, the minimal amount of dilution to our share
structure. The proceeds provide additional working capital to
ensure that the Avino Mine expansion is on schedule and will also
be used to fund an exploration drill program to outline new
resources around the San Gonzalo Mine. We would like to thank
Cantor Fitzgerald for all of their hard work and commitment to make
this happen for Avino."
- David Wolfin,
President, CEO & Director, Avino Silver & Gold Mines
Ltd.
About Avino
Founded in 1968, Avino's mission is to create shareholder value
through profitable organic growth at the historic Avino property
near Durango, Mexico. We are committed to managing all business
activities in an environmentally responsible and cost-effective
manner while contributing to the well-being of the community in
which we operate.
ON BEHALF OF THE BOARD
David Wolfin, President & Chief Executive
Officer
Avino Silver & Gold Mines Ltd.
Safe Harbor Statement - This news release contains
"forward-looking information" and "forward-looking statements"
(together, the "forward looking statements") within the meaning of
applicable securities laws and the United States Private Securities
Litigation Reform Act of 1995, including our belief as to the
extent and timing of various studies including the PEA, and
exploration results, the potential tonnage, grades and content of
deposits, timing and establishment and extent of resources
estimates. These forward-looking statements are made as of the date
of this news release and the dates of technical reports, as
applicable. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
future circumstances, outcomes or results anticipated in or implied
by such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur. While we have based these
forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements
are not a guarantee that such future events will occur and are
subject to risks, uncertainties, assumptions and other factors
which could cause events or outcomes to differ materially from
those expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, the effects
of general economic conditions, the price of gold, silver and
copper, changing foreign exchange rates and actions by government
authorities, uncertainties associated with legal proceedings and
negotiations and misjudgments in the course of preparing
forward-looking information. In addition, there are known and
unknown risk factors which could cause our actual results,
performance or achievements to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Known risk factors include risks
associated with project development; the need for additional
financing; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters;
uncertainties and risks related to carrying on business in foreign
countries; environmental liability claims and insurance; reliance
on key personnel; the potential for conflicts of interest among
certain of our officers, directors or promoters of with certain
other projects; the absence of dividends; currency fluctuations;
competition; dilution; the volatility of the our common share price
and volume; tax consequences to U.S. investors; and other risks and
uncertainties. Although we have attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. We are under no obligation to update or alter any
forward-looking statements except as required under applicable
securities laws.
Cautionary Note to United States Investors - The information
contained herein and incorporated by reference herein has been
prepared in accordance with the requirements of Canadian securities
laws, which differ from the requirements of United States
securities laws. In particular, the term "resource" does not equate
to the term "reserve". The Securities Exchange Commission's (the
"SEC") disclosure standards normally do not permit the inclusion of
information concerning "measured mineral resources", "indicated
mineral resources" or "inferred mineral resources" or other
descriptions of the amount of mineralization in mineral deposits
that do not constitute "reserves" by SEC standards, unless such
information is required to be disclosed by the law of the Company's
jurisdiction of incorporation or of a jurisdiction in which its
securities are traded. U.S. investors should also understand that
"inferred mineral resources" have a great amount of uncertainty as
to their existence and great uncertainty as to their economic and
legal feasibility. Disclosure of "contained ounces" is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Avino Silver & Gold Mines Ltd.David WolfinPresident &
Chief Executive
Officer604.682.3701604.682.3600ir@avino.comwww.avino.com
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