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Avino Announces Closing of Bought Deal Offering

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Avino Announces Closing of Bought Deal Offering






Avino Silver & Gold Mines Ltd. (TSX-V: ASM) (NYSE–MKT:ASM) further to the Company’s press release dated November 21, 2016, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner, and Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, as lead manager, Euro Pacific Capital, Inc., Roth Capital Partners, LLC, Echelon Wealth Partners Inc. and Haywood Securities Inc., as co-managers for the issuance of 7,124,430 units of the Company at the price of US$1.57 per Unit for aggregate gross proceeds of US$11,185,355.10 in Canada and the United States of America.  Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant.  Each whole Warrant is exercisable to purchase one additional Common Share at an exercise price of US$2.00, subject to adjustment, until November 28, 2019.



The Underwriters have exercised their over-allotment option in part to purchase 754,430 Units at the Issue Price per Unit (which is included in the gross proceeds above).



The Company intends to use the net proceeds of the Offering to advance the exploration and development of the Company’s Avino Mine, exploration and development activities on the Bralorne Mine property in British Columbia, both of which are expected to receive major upgrades in 2017, and for general working capital.  The Company believes that this capital raise strengthens the Company’s balance sheet and is integral to the Avino strategy for growth.



The Offering was made by way of prospectus supplements dated November 21, 2016 to the Company’s existing Canadian short form base shelf prospectus dated November 10, 2016, and U.S. registration statement on Form F-10 dated November 18, 2016.  The prospectus supplements relating to the Offering (together with the Base Shelf Prospectus and the Registration Statement, the “Offering Documents“) were filed with the securities commissions in all of the Provinces of Canada, except Quebec, and with the United States Securities and Exchange Commission.  The Offering Documents contain important detailed information about the securities offered, and copies of the Underwriting Agreement and the Offering Documents are available for free by visiting the Company’s profiles on the SEDAR website maintained by the Canadian Securities Administrators at or the SEC’s website at, as applicable.



About Avino:



Avino’s mission is to create shareholder value through profitable organic growth at the historic Avino property near Durango, Mexico, and the Bralorne Mine property in southwestern British Columbia, Canada.  We are committed to managing all business activities in an environmentally responsible and cost-effective manner while contributing to the well-being of the communities in which we operate.


Posted November 28, 2016

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