Americas Gold and Silver Announces Closing of C$33.9 Million Bought Deal Financing
(BUSINESS WIRE, 29 January 2021
Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (the “Company”), a growing North American precious metals producer, is pleased to announce that it has closed its previously announced and upsized bought deal financing with a syndicate of underwriters led by Desjardins Capital Markets and including Cormark Securities Inc., Stifel GMP, Clarus Securities Inc., Laurentian Bank Securities Inc., H.C. Wainwright & Co., LLC, A.G.P./Alliance Global Partners, and Roth Capital Partners, LLC (collectively the “Underwriters”). A total of 10,253,128 common shares of the Company (“Shares”), including the partial exercise of the over-allotment option by the Underwriters, were sold at a price of C$3.31 per Share for aggregate gross proceeds to the Company of C$33,937,854 (the “Offering”).
The net proceeds of the Offering will be used for working capital purposes at the Company’s Relief Canyon mine as that operation proceeds towards full production, development and exploration at the Company’s 60%-owned Galena Complex, care and maintenance at the Company’s Cosalá Operations, general corporate and administrative expenses, repayment of outstanding debt obligations, and working capital purposes, as detailed in the Prospectus (as defined below).
