VANCOUVER, BC, Jan. 29, 2021 /CNW/ - Avino Silver & Gold Mines Ltd. (TSX:ASM)
(NYSE American; ASM) (FSE:GV6) ("Avino" or the
"Company") announces that it has filed a new short
form base shelf prospectus dated January 25,
2021 (the "Base Shelf Prospectus") and prospectus
supplement dated January 27, 2021
(the "Prospectus Supplement") in Canada, pursuant to which Avino may distribute
common shares (the "Offered Shares") from time to time
pursuant to a sales agreement dated January
13, 2021 (the "Sales Agreement") with Cantor
Fitzgerald & Co. (the "Designated Agent"), H.C.
Wainwright & Co., LLC, Roth Capital Partners, LLC, and
A.G.P./Alliance Global Partners (collectively, with the Designated
Agent, the "Agents"), as agents or as principals, for the
distribution of the Offered Shares in the
United States up to the aggregate sales amount of
US$25.0 million (the "Maximum
Amount"), in accordance with the terms of the Sales Agreement
(the "Offering"). The Offering is being made in
the United States under the terms
of a registration statement on Form F-3 (SEC File No. 333-252081)
(the "Registration Statement") filed with, and declared
effective on January 29, 2021 by, the
Securities and Exchange Commission (the "SEC") in
the United States, and the Base
Shelf Prospectus and Prospectus Supplement filed in each Province
of Canada, except Quebec; the Registration Statement, Base Shelf
Prospectus and Prospectus Supplement being collectively, the
"Prospectus").
The sales of the Offered Shares will be made directly on the
NYSE American, and will be deemed sales of Offered Shares under the
Prospectus in transactions that are deemed to be "at-the-market
distributions" as defined in National Instrument 44-102, Shelf
Distributions ("NI 44-102"). The Offered Shares
will be distributed at the market prices prevailing at the time of
sale. As a result, prices may vary as between purchasers and
during the period of distribution. The period of distribution
will be until the Maximum Amount has been achieved, unless
terminated earlier under the terms of the Sales Agreement.
The Company has agreed to pay the Agents a cash commission up to
3.0% of the gross proceeds of the Offering.
The Prospectus Supplement relating to the Offering, together
with the Base Shelf Prospectus and the Registration Statement
(collectively, the "Offering Documents") will be filed
with the securities commissions in all of the Provinces of
Canada, except Quebec, and the Registration Statement
previously filed with the SEC. The Offering Documents will
contain important detailed information about the securities being
offered. Before you invest, you should read the Offering
Documents and the other documents the Company has filed for more
complete information about the Company and the Offering.
Copies of the Sales Agreement and the Offering Documents will be
available for free by visiting the Company's profiles on the SEDAR
website maintained by the Canadian Securities Administrators at
www.sedar.com or the SEC's website at www.sec.gov, as
applicable.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Avino:
Avino is primarily a silver producer with a diversified pipeline
of silver, gold, and base metal properties in Mexico. Avino produces from its wholly owned
Avino Mine near Durango, Mexico.
The Company's silver and gold production remains unhedged. The
Company's mission and strategy is to create shareholder value
through its focus on profitable organic growth at the historic
Avino Property and the strategic acquisition of mineral exploration
and mining properties. We are committed to managing all business
activities in a safe, environmentally responsible and
cost-effective manner, while contributing to the well-being of the
communities in which we operate.
On Behalf of the Board
"David Wolfin"
________________________________
David Wolfin
President & CEO
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
expected closing of the Offering and the use of proceeds from the
Offering. 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, our ability
to satisfy the conditions to closing of the Offering and to use the
proceeds from the Offering as expected, 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.
View original
content:http://www.prnewswire.com/news-releases/avino-announces-us-atm-share-offering-of-up-to-us25-0-million-301218371.html
SOURCE Avino Silver & Gold
Mines Ltd.