Maya Gold and Silver: Aya Gold & Silver Inc. Announces C$20,000,400 Underwritten Private Placement Offering

MONTREAL, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Aya Gold & Silver In. ("Aya" or "Company") is pleased to announce that it has entered into an agreement with Desjardins Capital Markets, to act as lead underwriter (the "Lead Underwriter") of a syndicate of underwriters (collectively with the Lead Underwriter, the "Underwriters"), whereby the Underwriters have agreed to purchase 9,524,000 units of the Company (the "Units") to be priced at C$2.10 per Unit for gross proceeds to the Company of approximately C$20,000,400 (the "Offering"). Each Unit will consist of one common share in the Company (each a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable for one Common Share at an exercise price of C$3.30 for a period of 36 months following the Closing Date (as defined below).The Underwriters will have the option, exercisable at any time prior to 48 hours before the Closing Date (as hereinafter defined), to acquire up to an additional 15% of the number of Units purchased under the Offering.The net proceeds from the Offering will be used by the Company for the continued optimization of the Zgounder Mine, exploration drilling and for general corporate purposes.The Offering is scheduled to close on or about September 3, 2020 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the Toronto Stock Exchange ("TSX"). The securities to be issued under this Offering will be offered by way of private placement exemptions in all the provinces of Canada. The Units may also be sold in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and in such other jurisdictions as may be permitted such that such sales are completed in manner so as to not require filing of a prospectus, registration statement, offering memorandum or similar document nor give rise to any disclosure obligations or submission to ...Full story available on Benzinga.com