Avino Announces At-The-Market Offering
December 31 2013 - 7:00AM
Marketwired
Avino Announces At-The-Market Offering
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 31, 2013) -
Avino Silver & Gold Mines Ltd.
(TSX-VENTURE:ASM)(NYSEMKT:ASM)(FRANKFURT:GV6) ("Avino" or "the
Company") today announced that it has filed a prospectus supplement
under which it may sell up to US $5,750,000 of its common shares
from time to time through Cantor Fitzgerald & Co., as sale
agent.
Sales of common shares under the at-the-market offering, if any,
would be made by means of ordinary brokers' transactions, including
on the NYSEMKT, at market prices or as otherwise agreed with the
agents. The Company intends to use the proceeds from any sales of
the common shares for advancing the development of the Avino mine
including its operations and production and for working
capital.
The common shares to be sold in the at-the-market offering, if
any, will be made pursuant to a prospectus supplement to the
Company's prospectus, dated December 6, 2013, filed as part of the
Company's effective registration statement. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction. The at-the-market offering may be made only by means
of a prospectus supplement and the related prospectus.
Cantor Fitzgerald & Co. is the sales agent for the
at-the-market offering. Copies of the prospectus supplement and
accompanying prospectus relating to these securities may be
obtained by contacting Cantor Fitzgerald & Co., Attention:
Equity Capital Markets, 110 East 59th Street, New York, New York,
10022, telephone: 212-829-7122.
"We are very excited to have Cantor Fitzgerald working to
help Avino reach its goal of becoming a mid-tier silver
producer."
- David Wolfin, President, CEO & Director, Avino Silver
& Gold Mines Ltd.
About Avino
Avino's mission is to create shareholder value through
profitable organic growth at the Avino property. 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.
Management remains focused on the following key objectives:
- Maintain profitable mining operations at San Gonzalo while
decreasing operating costs and improving efficiency;
- Develop the Avino mine for mineral production, expand mill
output from 500 to 1,500 tpd;
- Continue to review and develop plans to process the oxide
tailings resource from previous milling operations (PEA issued in
2012);
- Continue to explore regional targets on the property followed
by other properties in our portfolio.
ON BEHALF OF THE BOARD
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
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 &
CEO604.682.3701604.682.3600ir@avino.comwww.avino.com
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