VANCOUVER, BC, June 21,
2023 /PRNewswire/ - 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
April 11, 2023 (the "Base Shelf
Prospectus") and prospectus supplement dated June 20, 2023 (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 June 20, 2023 (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-10 (the "Registration Statement") filed with, and declared
effective on April 21, 2023 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").
"We have re-established an ATM Share Offering after the previous
offering expired on February 23,
2023, and it will be used strategically from time to time,
at the Company's discretion and subject to regulatory
requirements," said David Wolfin,
Avino's President and CEO. "The ATM provides Avino with an
additional source of financial flexibility if required."
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 a silver producer 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 the La Preciosa property. Avino currently
controls mineral resources, as per NI 43-101, that total 368
million silver equivalent ounces, within our district-scale land
package. 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 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.
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SOURCE Avino Silver & Gold
Mines Ltd.
