Aya Gold & Silver Inc. Announces Closing of C$70 Million Bought Deal Public Offering
/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
MONTREAL, Sept. 15, 2021 - Aya Gold & Silver Inc. (TSX: AYA) ("Aya" or the "Corporation") is pleased to announce that it has closed its previously announced bought deal financing (the "Offering"). A total of 6,830,000 common shares (the "Common Shares") were sold under the Offering at a price of $10.25 per Common Share for aggregate gross proceeds to Aya of $70,007,500.
The Offering was conducted by a syndicate of underwriters co-led by Desjardins Capital Markets ("Desjardins") and Sprott Capital Partners (collectively, the "Co-Lead Underwriters") with Desjardins acting as sole bookrunner, and including Cormark Securities Inc., National Bank Financial Inc., Stifel GMP, and BMO Capital Markets (together with the Co-Lead Underwriters, the "Underwriters").
The Common Shares were issued pursuant to a short form prospectus (the "Prospectus") dated September 9, 2021, filed in each of the provinces of Canada. A copy of the Prospectus is available under the Company's profile on SEDAR at www.sedar.com.
Aya 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.
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 has been focused on maximising shareholder value by anchoring sustainability at the heart of its operations governance, and financial growth plans.
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 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.
SOURCE Aya Gold & Silver Inc.
For additional information, please visit Aya's website at www.ayagoldsilver.com; Or contact: Benoit La Salle, FCPA FCA, President & CEO, firstname.lastname@example.org; Alex Ball, VP, Corporate Development & IR, email@example.com