UPDATE - Americas Gold and Silver Announces Upsize of Previously Announced Bought Deal Financing to C$30.0 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (the “Company”), a growing North American precious metals producer, is pleased to
announce that in connection with its previously announced bought deal public offering of common shares, the Company and a syndicate of underwriters (the “Underwriters”) led by Desjardins Capital
Markets, have agreed to increase the size of its previously announced offering from C$25.0 million to C$30.0 million. Pursuant to the amended terms, the Underwriters have agreed to purchase, on a
bought deal basis, 9,063,500 common shares of the Company (“Shares”) at a price of C$3.31 per Share (the “Offering Price”) for aggregate gross proceeds to the Company of C$30.0 million (the
The Underwriters have been granted an option (the “Over‐Allotment Option”), exercisable in whole or in part, at any time within 30 days following and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Shares offered under the Offering at the Offering Price for market stabilization purposes and to cover over‐allotments, if any.
The proceeds from the sale of the Shares will be used for the exploration, development and/or improvement of the Company’s existing mine properties and for working capital and general corporate purposes.
The Offering is scheduled to close on or about January 29, 2021 and is subject to a number of conditions, including receipt of all necessary securities regulatory approvals and the approval of the Toronto Stock Exchange and the NYSE American LLC.
The Offering is being made pursuant to a short form prospectus to be filed in all the provinces of Canada excluding Quebec.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the “United States” or to, or for the account or benefit of, persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.