NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES OR TO A U.S.
PERSON
TORONTO, May 13, 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
bought deal financing with a syndicate of underwriters co-led by
Cormark Securities Inc. and Desjardins Capital Markets
(collectively, the "Underwriters"). A total of 10,269,500
common shares of the Company (the "Common Shares"), including the
exercise of the over-allotment option in full by the Underwriters,
were sold at a price of C$2.80 per
Common Share, for aggregate gross proceeds to the Company of
C$28,754,600 (the "Offering").
The net proceeds from the sale of the Common Shares will be used
for working capital and general corporate purposes, primarily the
exploration, development and/or improvement of the Company's
existing mine properties, including those relating to bringing
Relief Canyon into commercial production.
The Offering was made by way of a prospectus supplement dated
May 7, 2020 (the "Prospectus
Supplement") to the Company's base shelf prospectus dated
June 28, 2019 (the "Base Shelf
Prospectus"). The Prospectus Supplement was filed in
Alberta, British Columbia and Ontario and, together with the related Base
Shelf Prospectus, are available 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, Relief Canyon 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 also holds an option on the San Felipe development project in Sonora, Mexico. For further information,
please see SEDAR or www.americas-gold.com.
For more
information:
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|
|
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Stefan
Axell
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Darren
Blasutti
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VP, Corporate
Development & Communications
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President and
CEO
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Americas Gold and
Silver Corporation
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Americas Gold and
Silver Corporation
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416-874-1708
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416‐848‐9503
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Cautionary Statement on Forward-Looking Information:
This press release contains certain statements that constitute
forward-looking information 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, 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. 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