Americas Gold and Silver Corporation Announces Private Placement of up to C$6.5 Million
March 20 2024 - 7:21AM
Americas Gold and Silver Corporation (TSX: USA, NYSE
American: USAS) (the “
Company”) is
pleased to announce that it has entered into an agreement with
Eight Capital, pursuant to which the Eight Capital has agreed to
act as agent, on a “best efforts” basis, in connection with a
private placement of up to 21,667,000 units of the Company (the
“
Units”) at a price of C$0.30 per Unit (the
“
Issue Price”) for gross proceeds of up to
C$6,500,100 (the “
Offering”).
Each Unit will be comprised of one common share
of the Company (each, a “Common Share”) and one
common share purchase warrant of the Company (a
“Warrant”). Each Warrant will entitle the holder
thereof to purchase one common share of the Company (each, a
“Warrant Share”) at an exercise price of C$0.40
per Warrant Share for a period of 36 months following the closing
of the Offering.
The net proceeds of the Offering will be used
for working capital requirements at the Company’s Cosalá Operations
and Galena Complex, in order to transition to additional
silver-copper ore production at the Company’s operations in the
U.S. and Mexico, and for general and administrative purposes.
The Offering is expected to close on or about
March 27, 2024, or such other date as the Company and Eight Capital
may agree and is subject to certain conditions including, but not
limited to, the receipt of all necessary regulatory and other
approvals including the conditional listing approval of the Toronto
Stock Exchange and the NYSE American Market.
Subject to compliance with applicable regulatory
requirements and in accordance with National Instrument 45-106 –
Prospectus Exemptions (“NI 45-106”), the Units
will be offered for sale to purchasers resident in Canada and/or
other qualifying jurisdictions pursuant to the listed issuer
financing exemption under Part 5A of NI 45-106 (the “Listed
Issuer Financing Exemption”). Because the Offering is
being completed pursuant to the Listed Issuer Financing Exemption,
the securities issued to Canadian resident subscribers in the
Offering will not be subject to a hold period pursuant to
applicable Canadian securities laws.
There is an offering document related to the
Offering that can be accessed under the Company’s profile at
www.sedarplus.ca and on the Company’s website at
www.americas-gold.com. Prospective investors should read this
offering document before making an investment decision.
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 owns and operates the Cosalá Operations
in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho,
USA, and is re-evaluating the Relief Canyon mine in Nevada, USA.
The Company also owns the San Felipe development project in Sonora,
Mexico. For further information, please see SEDAR+ or
www.americas-gold.com.
For more information
Stefan AxellVP, Corporate Development &
CommunicationAmericas Gold and Silver Corporations416-874-1708
Darren BlasuttiPresident and CEOAmericas Gold
and Silver Corporation416‐848‐9503
Cautionary and Forward-Looking
Statements
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not
been and will not be registered under the United States Securities
Act of 1933, as amended (the “1933 Act”) or any state securities
laws and may not be offered or sold within the United States or to,
or for account or benefit of, U.S. Persons (as defined in
Regulation S under the 1933 Act) unless registered under the 1933
Act and applicable state securities laws, or an exemption from such
registration requirements is available.
This news release includes certain
forward-looking statements concerning the use of proceeds of the
Offering, the closing date of the Offering, the reliance on the
Lister Issuer Financing Exemption, acceptance of the TSX or NYSE
American Market, the future performance of our business, its
operations and its financial performance and condition, as well as
management’s objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words
as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”,
“intend” and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available at
www.sedarplus.ca. Actual events or results may differ materially
from those projected in the forward-looking statements and we
caution against placing undue reliance thereon. We assume no
obligation to revise or update these forward-looking statements
except as required by applicable law.
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