Avino Silver & Gold Mines (ASM - TSX.V) Closes $5,130,000 Private Placement - Video News Alert Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, December 24, 2010 - Avino Silver & Gold Mines (ASM
- TSX.V) has closed a non-brokered private placement with aggregate gross
proceeds of $5,130,000 from the sale of 2,700,000 units at a price of $1.90 per
unit.
Each unit is comprised of one common share and one non-transferrable share
purchase warrant. Each warrant entitles the investor to purchase one additional
common share at an exercise price of $2.50 with a term of three years until
December 22, 2013. The common shares issued, and any common shares issued
pursuant to the exercise of Warrant prior to April 23, 2011 will be restricted
from trading until April 23, 2011.
To view the InvestmentPitch.com video news alert about Avino Silver and Gold,
click here. If the link is unavailable, please visit www.investmentpitch.com and
enter "Avino" in the search bar.
The Company is pleased to have Sprott Private Wealth LP ("Sprott") facilitate
the participation of its clients in the private placement and also to have
Sprott Asset Management LP, on behalf of certain funds and managed accounts
invest in the Company through the acquisition of Units. The Sprott Group has
been instrumental in the development of countless successful mining ventures and
Sprott Asset Management is a leading independent asset manager dedicated to
achieving superior returns for its clients over the long term. Sprott manages
several billion dollars through multiple funds and has been the winner of
numerous prestigious distinctions that are awarded to funds providing superior
returns.
The net proceeds of this Offering will be used to advance the Company's San
Gonzalo silver, gold, lead and zinc project at Durango, Mexico and general
working capital requirements.
Avino has quite a history in Mexico, having operated there continuously since
1968. Avino acquired this project in 1974 and produced gold, silver and copper
until 2001 when they closed it because of a loss of a key smelter combined with
$4.00 silver.
The company completed a three year program of modernization of the mill,
including a new 250 t/p/d circuit to process high grade ore. Avino is well
financed and expects to bring the San Gonzalo Zone into full time production in
2011. They are also planning a significant drill program to both increase their
resources and explore new targets.
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CONTACT:
Avino Silver and Gold Mines
Bill Bowker, Investor Relations
604-682-3701
bbowker(at)avino.com
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1475650]
Unternehmensinformation / Kurzprofil:
Datum: 25.12.2010 - 02:03 Uhr
Sprache: Deutsch
News-ID 50080
Anzahl Zeichen: 3637
contact information:
Kategorie:
Business News
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