Avino Silver & Gold Mines Ltd. (ASM: NYSE – MKT, ASM:TSX.V; “Avino” or “the Company”) is pleased to report the completionof the previously announced brokered public offering (the “Offering”) throughNoble International Investments, Inc., doing business as Noble FinancialCapital Markets of Boca Raton, Florida (the “Agent”) as sole placement agent tocertain institutional investors. Total gross proceeds of USD$5,000,000 wereraised through the sale of 2,066,117 units (the “Units”) at a price of USD$2.42per Unit. Each Unit consisted of one (1) common share and one-half (1/2) of a transferableshare purchase warrant (the “Warrants”).
Each whole Warrant is exercisable to acquire one additional common share atUSD$2.87 per share until February 25, 2017, provided that if the volumeweighted average closing market price for the Company’s common shares on theNYSE MKT is greater than USD$6.85 per share for a period of twenty (20)consecutive trading days, then the Company may deliver a notice (the “Notice”)to the Warrant holder notifying such holder that the Warrants must be exercisedwithin thirty (30) days from the date of delivery of such Notice, otherwise theWarrants will expire at 4:30 p.m. (Vancouver Time) on the thirty-first (31st)day after the date of delivery of the Notice.
The funds raised from the sale of the Units will be used for advancing thedevelopment of the Company’s Avino mine property and its mining operations inMexico, as well as Avino’s general working capital requirements.
The Units are registered securities issued by way of a Form F-3 RegistrationStatement, base prospectus, and prospectus supplement filed with the U.S.Securities and Exchange Commission. Copies of the Registration Statement andprospectus will be filed and available under the Company’s profile on SEDARat www.sedar.com andwith the SEC at www.sec.gov.
Avino
Founded in 1968, Avino’s mission is to create shareholder value throughprofitable organic growth at the historic Avino property near Durango, Mexico.We are committed to managing all business activities in an environmentallyresponsible and cost-effective manner while contributing to the well-being ofthe community in which we operate.
ON BEHALF OF THE BOARD
“David Wolfin”
________________________________
David Wolfin,
Chief Executive Officer,
Avino Silver & Gold Mines Ltd.
Safe Harbor Statement - This news release contains “forward-lookinginformation” and “forward-looking statements” (together, the “forward lookingstatements”) within the meaning of applicable securities laws and the UnitedStates Private Securities Litigation Reform Act of 1995, including our beliefas to the extent and timing of various studies including the PEA, andexploration results, the potential tonnage, grades and content of deposits,timing and establishment and extent of resources estimates. Theseforward-looking statements are made as of the date of this news release and thedates of technical reports, as applicable. Readers are cautioned not to placeundue reliance on forward-looking statements, as there can be no assurance thatthe future circumstances, outcomes or results anticipated in or implied by suchforward-looking statements will occur or that plans, intentions or expectationsupon which the forward-looking statements are based will occur. While we havebased these forward-looking statements on our expectations about future eventsas at the date that such statements were prepared, the statements are not aguarantee that such future events will occur and are subject to risks,uncertainties, assumptions and other factors which could cause events oroutcomes to differ materially from those expressed or implied by suchforward-looking statements.
Such factors and assumptions include, among others, the effects of generaleconomic conditions, the price of gold, silver and copper, changing foreignexchange rates and actions by government authorities, uncertainties associatedwith legal proceedings and negotiations and misjudgments in the course ofpreparing forward-looking information. In addition, there are known and unknownrisk factors which could cause our actual results, performance or achievementsto differ materially from any future results, performance or achievementsexpressed or implied by the forward-looking statements. Known risk factorsinclude risks associated with project development; the need for additionalfinancing; operational risks associated with mining and mineral processing;fluctuations in metal prices; title matters; uncertainties and risks related tocarrying on business in foreign countries; environmental liability claims andinsurance; reliance on key personnel; the potential for conflicts of interestamong certain of our officers, directors or promoters of with certain otherprojects; the absence of dividends; currency fluctuations; competition;dilution; the volatility of the our common share price and volume; taxconsequences to U.S. investors; and other risks and uncertainties. Although wehave attempted to identify important factors that could cause actual actions,events or results to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events or resultsnot to be as anticipated, estimated or intended. There can be no assurance thatforward-looking statements will prove to be accurate, as actual results andfuture events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. We are under no obligation to update or alter anyforward-looking statements except as required under applicable securities laws.
Cautionary Note to United States Investors - The information contained hereinand incorporated by reference herein has been prepared in accordance with therequirements of Canadian securities laws, which differ from the requirements ofUnited States securities laws. In particular, the term “resource” does notequate 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 “inferredmineral resources” or other descriptions of the amount of mineralization inmineral deposits that do not constitute “reserves” by SEC standards, unlesssuch information is required to be disclosed by the law of the Company’sjurisdiction of incorporation or of a jurisdiction in which its securities aretraded. U.S. investors should also understand that “inferred mineral resources”have a great amount of uncertainty as to their existence and great uncertaintyas to their economic and legal feasibility. Disclosure of “contained ounces” ispermitted disclosure under Canadian regulations; however, the SEC normally onlypermits issuers to report mineralization that does not constitute “reserves” bySEC standards as in place tonnage and grade without reference to unit measures.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that termis defined in the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.