Aya Gold & Silver Inc. Announces C$70 Million Bought Deal Public Offering
PRESS RELEASE
Aya Gold & Silver Inc. Announces C$70 Million Bought Deal Public Offering
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Montreal, Quebec, August 23, 2021 ‐ Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to announce that
it has entered into an agreement with a syndicate of underwrite rs co‐led by Desjardins Capital Markets (“Desjardins”) and Spro tt
Capital Partners with Desjardins acting as sole bookrunner, (co llectively, the “Underwriters”) pursuant to which the Underwriters
have agreed to purchase on a bought deal basis, an aggregate of 6,830,000 common shares (the “Common Shares”) at a price of
$10.25 per Common Share (the “Offering Price”) for aggregate gross proceeds to Aya of $70,007,500 (the “Offering”).
The Corporation has granted the Underwriters an option (the “Ov er‐Allotment Option”), exercisab le, in whole or in part, at any
time until and including 30 days following the closing of the O ffering, to purchase up to an add itional 15% of the Offering at the
Offering Price to cover over‐allotments, if any. If the Over‐Al lotment Option is exercised in full, the total gross proceeds o f the
Offering will be $80,508,625.
The Common Shares will be offered by way of short form prospect us to be filed in each of the provinces of Canada and in the
United States by way of private placement pursuant to the exemption from registration provided for under Rule 144A of the United
States Securities Act of 1933, as amended, and in such other ju risdictions outside of Canada and the United States as are agre ed
to by the Corporation and the Underwriters, in each case provid ed that no prospectus, registrat ion statement or other similar
document is required to be filed in such jurisdiction and that the Corporation will not be or become subject to any continuous
disclosure obligations in such jurisdiction.
The Corporation intends to use t he net proceeds of the Offering for the expansion of its Zgounder mine, for advancement of its
other properties and for general corporate purposes.
The Offering is expected to close on or about September 13, 2021 (the “Closing Date”) and is subject to certain conditions including,
but n ot limited to, the receipt of all necessary regu latory and stock exchange approvals, including the approval of the Toront o
Stock Exchange and the applicable securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities
in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not
been registered under the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws and may not be offered
or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada‐based silver producer with operations in the Kingdom of Morocco.
The only TSX‐listed pure silver mining company, Aya operates th e high‐grade Zgounder Silver Mine and is exploring its properti es
along the prospective South‐Atlas Fault, several of which have hosted past‐producing mines and historical resources. Aya’s
Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team is focused on maximising shareholder valu e by anchoring sustainability at the heart of its production,
resource, governance, and financial growth plans.
For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:
Benoit La Salle, FCPA FCA
President & CEO
Alex Ball
VP, Corporate development & IR
Forward‐Looking Statements
This press release contains "forward‐looking information" within the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may constitute forward‐looking information. Generally, such forward‐
looking information can be identified by the use of forward‐looking terminology such as “will”, “continue”, “provide”, “present”,
“reasonable”, “established”, “has”, “demonstrate”, “potential”, or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would" or "might". Forward‐looking information includes statements regarding the
Corporation’s ability to complete the Offering on the terms announced and to fulfill all conditions precedent, including obtaining
TSX approval, and the use of proceeds of the Offering. Forward‐looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the
Corporation to be materially different from those expressed or implied by such forward‐looking information, including but not
limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write‐downs and
impairments; (iv) the risk associated with exploration, development and operations of mineral deposits including the accuracy of
the current mineral reserve and mineral resource estimates of the Corporation (including, but not limited to, ore tonnage and
ore grade estimates) and mine plans for the Corporation’s mining operations (including, but not limited to, throughput and
recoveries being affected by metallurgical characteristics); (v) the risk associated with establishing title to mineral properties and
assets including permitting, development, operations and production from the Corporation’s operations being consistent with
expectations and projections; (vi) fluctuations in commodity prices and other risks and factors described or referred to in the
section entitled "Risk Factors" in the MD&A of the Corporation and which is available at www.sedar.com, all of which should be
reviewed in conjunction with the information found in this news release
Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from
those contained in the forward‐looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such forward‐looking information. Such forward‐
looking information has been provided for the purpose of assisting investors in understanding the Corporation's business,
operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue
reliance on forward‐looking information. Forward‐looking information is given as of the date of this press release, and the
Corporation does not undertake to update such forward‐looking information except in accordance with applicable securities
laws.