Aya Gold & Silver Inc. Announces C$70 Million Bought Deal Public Offering
23 August 2021 - 10:49PM
Aya Gold & Silver Inc. (TSX: AYA) (“Aya”
or the “Corporation”) is pleased to announce that it has entered
into an agreement with a syndicate of underwriters co-led by
Desjardins Capital Markets (“Desjardins”) and Sprott Capital
Partners with Desjardins acting as sole bookrunner, (collectively,
the “Underwriters”) pursuant to which the Underwriters have agreed
to purchase on a bought deal basis, an aggregate of 6,830,000
common shares (the “Common Shares”) at a price of $10.25 per Common
Share (the “Offering Price”) for aggregate gross proceeds to Aya of
$70,007,500 (the “Offering”).
The Corporation has granted the Underwriters an
option (the “Over-Allotment Option”), exercisable, in whole or in
part, at any time until and including 30 days following the closing
of the Offering, to purchase up to an additional 15% of the
Offering at the Offering Price to cover over-allotments, if any. If
the Over-Allotment Option is exercised in full, the total gross
proceeds of the Offering will be $80,508,625.
The Common Shares will be offered by way of
short form prospectus to be filed in each of the provinces of
Canada and in the United States by way of private placement
pursuant to the exemption from registration provided for under Rule
144A of the United States Securities Act of 1933, as amended, and
in such other jurisdictions outside of Canada and the United States
as are agreed to by the Corporation and the Underwriters, in each
case provided that no prospectus, registration statement or other
similar document is required to be filed in such jurisdiction and
that the Corporation will not be or become subject to any
continuous disclosure obligations in such jurisdiction.
The Corporation intends to use the net proceeds
of the Offering for the expansion of its Zgounder mine, for
advancement of its other properties and for general corporate
purposes.
The Offering is expected to close on or about
September 13, 2021 (the “Closing Date”) and is subject to certain
conditions including, but not limited to, the receipt of all
necessary regulatory and stock exchange approvals, including the
approval of the Toronto Stock Exchange and the applicable
securities regulatory authorities.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in the United States or in any other
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities have not been registered under the U.S.
Securities Act of 1933, as amended, and applicable U.S. state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements thereunder.
About Aya Gold & Silver
Inc.
Aya Gold & Silver Inc. is a rapidly growing,
Canada-based silver producer with operations in the Kingdom of
Morocco.
The only TSX-listed pure silver mining company,
Aya operates the high-grade Zgounder Silver Mine and is exploring
its properties along the prospective South-Atlas Fault, several of
which have hosted past-producing mines and historical resources.
Aya’s Moroccan mining assets are complemented by its Tijirit Gold
Project in Mauritania, which is being advanced to feasibility.
Aya’s management team is focused on maximising
shareholder value by anchoring sustainability at the heart of its
production, resource, governance, and financial growth plans.
For additional information, please visit Aya’s
website at www.ayagoldsilver.com or contact:
Benoit La Salle, FCPA FCAPresident &
CEObenoit.lasalle@ayagoldsilver.com |
Alex BallVP, Corporate development &
IRalex.ball@ayagoldsilver.com |
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as “will”, “continue”, “provide”,
“present”, “reasonable”, “established”, “has”, “demonstrate”,
“potential”, or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would" or
"might". Forward-looking information includes statements regarding
the Corporation’s ability to complete the Offering on the terms
announced and to fulfill all conditions precedent, including
obtaining TSX approval, and the use of proceeds of the Offering.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Corporation
to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits including the accuracy of the
current mineral reserve and mineral resource estimates of the
Corporation (including, but not limited to, ore tonnage and ore
grade estimates) and mine plans for the Corporation’s mining
operations (including, but not limited to, throughput and
recoveries being affected by metallurgical characteristics); (v)
the risk associated with establishing title to mineral properties
and assets including permitting, development, operations and
production from the Corporation’s operations being consistent with
expectations and projections; (vi) fluctuations in commodity prices
and other risks and factors described or referred to in the section
entitled "Risk Factors" in the MD&A of the Corporation and
which is available at www.sedar.com, all of which should be
reviewed in conjunction with the information found in this news
release
Although the Corporation has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Corporation's business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Corporation does not undertake to update such forward-looking
information except in accordance with applicable securities
laws.
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