Takeover2014-06-30 08:49 ET - News Release
See News Release (C-ASM) Avino Silver & Gold Mines Ltd
Mr. David Wolfin reports
AVINO SILVER & GOLD MINES LTD. TO ACQUIRE BRALORNE GOLD MINES LTD.
Avino Silver & Gold Mines Ltd. and Bralorne Gold Mines Ltd. have entered into a letter of intent, pursuant to which it is contemplated that Avino will acquire all of the outstanding common shares of Bralorne which Avino does not already own by way of a plan of arrangement. Upon completion of the transaction, it is anticipated that approximately 2,636,857 common shares of Avino will be issued to former Bralorne shareholders to acquire Bralorne, which holds an undivided 100-per-cent legal and beneficial interest in the operating Bralorne gold mine in British Columbia.
Avino will issue to each shareholder of Bralorne 0.14 of a common share in the capital of Avino in exchange for each Bralorne common share held by such shareholder.
David Wolfin, Avino president and chief executive officer, stated: "Avino intends to make the Bralorne gold mine our second production centre in North America. Our team has a good technical understanding and knowledge base of the Bralorne gold mine, and we see an opportunity to finance the expansion of this mine and substantially increase its production profile over time. By utilizing Avino's balance sheet and access to capital along with the strengths of the combined Avino and Bralorne operational teams, I believe that we can create value for both Avino and Bralorne shareholders by realizing the full potential of this quality asset. Avino has a strong track record of financing production growth at our flagship Avino mine in Mexico to create shareholder value as demonstrated by our strong financial performance thus far in 2014, and I look forward to working with the Bralorne team and continuing this type of success."
Mon 30 Jun 12:18:53 EDT - Trade times are ET. News times are ET. Bid/ask/vol sizes in thousands.
| BPM - V |
2.5 |
0.315 · 0.39 |
3.0 |
0.42 |
0.145 |
52.7 |
1.3 |
1 |
3 |
0.42 0.42 0.42 |
0.45 0.205 |
09:30:00 |
08:49 |
15 min RT 2¢ |
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V |
0.42 |
0.145 |
200 |
2 RBC |
59 PI |
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V |
0.42 |
0.145 |
100 |
7 TD Sec |
59 PI |
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V |
0.42 |
0.145 |
1,000 |
7 TD Sec |
7 TD Sec |
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