TORONTO, Sept. 4, 2020 /CNW/ -- Americas Gold and Silver
Corporation (the "Company") (TSX: USA; NYSE American: USAS) is pleased to
announce that it has closed its previously announced and upsized
bought deal financing with a syndicate of underwriters co-led by
Desjardins Capital Markets and Cormark Securities Inc., and
including Stifel GMP, Clarus Securities Inc., and Laurentian Bank
Securities Inc., (collectively the "Underwriters"). A total of
10,204,510 common shares of the Company (the "Common Shares"),
including the partial exercise of the over-allotment option by the
Underwriters, were sold at a price of C$3.86 per Common Share, for aggregate gross
proceeds to the Company of C$39,389,409 (the "Offering").
The net proceeds from the sale of the Common Shares will be used
for the exploration, development and/or improvement of the
Company's existing mine properties, including those relating to
bringing Relief Canyon into commercial production and for working
capital and general corporate purposes, as detailed in the
Prospectus (as defined below).
The Offering was made pursuant to a short form prospectus (the
"Prospectus") dated August 31, 2020
filed in all the provinces of Canada excluding Quebec. A copy of the Prospectus is
available under the Company's profile on SEDAR at
www.sedar.com.
The securities 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.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious
metals mining company with multiple assets in North America.
The Company's newest asset, the Relief Canyon mine in Nevada, USA, has poured first gold and is
expected to ramp up to full production over the course of
2020. The Company also owns and operates the Cosalá
Operations in Sinaloa, Mexico and
manages the 60%-owned Galena Complex in Idaho, USA. The Company has recently
completed the outstanding option acquisition agreement for the
San Felipe development project in
Sonora, Mexico, subject to closing
conditions. For further information, please see SEDAR or
www.americas-gold.com.
For more information:
Stefan
Axell
|
Darren
Blasutti
|
VP, Corporate
Development & Communications
|
President and
CEO
|
Americas Gold and
Silver Corporation
|
Americas Gold and
Silver Corporation
|
416-874-1708
|
416–848–9503
|
Cautionary Statement on Forward-Looking Information:
This press release contains certain statements that constitute
forward-looking information and forward-looking
statements within the meaning of applicable securities laws
("forward-looking statements"), which reflects management's
expectations regarding the Company's future growth and business
prospects and opportunities. Forward-looking statements
include, without limitation, including the anticipated use of
proceeds of the Offering, and possible events, conditions or
results of operations, future economic conditions expectations and
anticipated courses of action, including the Company's ability to
finance, develop, achieve commercial production at and operate
Relief Canyon and the expected timing and completion of the
Company's exercise of its option to acquire the San Felipe development project. Although
the forward-looking statements contained in this press release
reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, such forward-looking
statements are based upon assumptions, opinions and analysis that
management believes to be reasonable and relevant but that may
prove to be incorrect. The Company cautions you not to place
undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking
statements include, among others: the inherent risks involved in
exploration and development of mineral properties, including
government approvals and permitting, changes in economic
conditions, state of the financial markets, changes in the
worldwide price of gold and other key inputs, changes in mine plans
and other factors, the impact of the novel coronavirus (COVID-19),
such as project execution delays, many of which are beyond the
control of the Company, as well as other risks and uncertainties
which are more fully described in the Company's Annual Information
Form dated March 9, 2020 and in other
filings of the Company with securities and regulatory authorities
which are available on SEDAR at www.sedar.com. The Company
does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates,
projections, beliefs and opinions change. Nothing in this
document should be construed as either an offer to sell or a
solicitation to buy or sell the Company securities. All
references to the Company include its subsidiaries unless the
context requires otherwise.
SOURCE Americas Gold and Silver Corporation