Avino Announces Closing of $6 Million Flow-Through Share Offering
ASM: TSX/NYSE American
Avino Silver & Gold Mines Ltd. T (604) 682 3701
Suite 900-570 Granville Street F (604) 682 3600
Vancouver, BC V6C 3P1 avino.com
April 27, 2018
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
AVINO ANNOUNCES CLOSING OF $6 MILLION FLOW-THROUGH SHARE OFFERING
Avino Silver & Gold Mines Ltd. (ASM: TSX/NYSE American, GV6: FSE, “Avino” or “the Company”) is pleased to
announce that it has closed its previously announced private placement (the “Offering”) of flow -through
common shares (the “FT Shares”). A total of 3,000,000 FT Shares, which included the full exercise of the agent's
option for 500,000 FT Shares, were sold at an offering price of $2.00 per FT Share for gross proceeds to the
Company of $6,000,000. The Offering was completed pursua nt to an agency agreement dated April 27, 2018
between the Company and Cantor Fitzgerald Canada Corporation (“CFCC”). The Company paid a 7.0%
commission to CFCC who acted as sole agent on the Offering. All FT Shares are subject to a four month hold
period in Canada. The Flow -Through Shares were not and will not be registered under the United States
Securities Act of 1933, as amended and may not be offered or sold in the U.S. absent registration or an
applicable exemption from registration requirements.
Each FT Share will qualify as a “flow -through share”, as defined in subsection 66(15) of the Income Tax Act
(Canada).
Avino will use the gross proceeds raised from the Offering to incur qualifying Canadian exploration expenses and
flow-through mining expenditures on its Bralorne Mine property, British Columbia, which will be renounced to
the purchasers of the FT Shares for the 2018 taxation year.
About Avino:
Avino is a silver and gold producer with a diversified pipeline of gold, silver and base metals properties in Mexico
and Canada employing close to 600 people, and has created over 1,600 indirect jobs in Mexico. Avino produces
from its wholly owned Avino and San Gonzalo Mines near Durango, Mexico, and is currently planning for future
production at th e Bralorne Gold Mine in British Columbia, Canada . The Company ’s gold and silver production
remains unhedged. The Company’s mission and strategy is to create shareholder value through its focus on
profitable organic growth at the historic Avino Property near Durango, Mexico, and the strategic acquisition of
mineral exploration and mining properties. Avino is committed to managing all business activities in an
environmentally responsible and cost-effective manner, while contributing to the well-being of the communities
in which we operate.
On Behalf of the Board
“David Wolfin”
________________________________
David Wolfin
President & CEO
Avino Silver & Gold Mines Ltd.
N E W S R E L E A S E
April 27, 2018 - Avino News Release
Avino Announces Closing of $6 Million Flow-Through Share Offering
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Safe Harbor Statement - This news release contains “forward -looking information” and “f orward-looking statements” (together, the “forward looking
statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including that the
Company’s expenditures will qualify as “flow -through mining expenditures”. These forward-looking statements are made as of the date of this news
release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward -looking statements, as there can
be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward -looking statements will occur or that plans,
intentions or expectations upon which the forward -looking statements are based will occur. While we ha ve based these forward -looking statements on
our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee th at such future events will
occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those
expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, the effects of general economic conditions, the price of go ld, silver and copper, changing foreign
exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and mi sjudgments in the course
of preparing forward -looking information. In addition, there are k nown and unknown risk factors which could cause our actual results, performance or
achievements to differ materially from any future results, performance or achievements expressed or implied by the forward -looking statements. Known
risk factors include ris ks associated with project development; the need for additional financing; operational risks associated with mining and miner al
processing; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign c ountries; environmental liability
claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, direc tors or promoters with certain
other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our common share price and volume;; and other
risks and uncertainties. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward -looking statements will prove to be accurate, as actual results an d future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking statements. We are under no
obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibil ity for the adequacy or accuracy
of this release.