Category: Investor’s Corner

Avino Silver & Gold Mines Ltd. further to the Company’s press release dated November 21, 2016, the Company is pleased to announce that it has closed the bought deal financing with Cantor Fitzgerald Canada Corporation, as sole bookrunner, and Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, as lead manager, Euro Pacific Capital, Inc., Roth Capital Partners, LLC, Echelon Wealth Partners Inc. and Haywood Securities Inc., as co-managers, for the issuance of 7,124,430 units of the Company at the price of US$1.57 per Unit for aggregate gross proceeds of US$11,185,355.10 in Canada and the United States of America. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Each whole Warrant is exercisable to purchase one additional Common Share at an exercise price of US$2.00, subject to adjustment, until November 28, 2019.

Canuc Resources Corporation is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange for the reverse takeover transaction previously announced on August 29, 2016. The Transaction involves the combination of Canuc and Santa Rosa Silver Mining Corp. by way of an amalgamation of Santa Rosa and a wholly-owned subsidiary of Canuc, to form one company as a wholly-owned subsidiary of Canuc. Completion of the Transaction and the listing of the combined entity remains subject to a number of conditions including those imposed by the TSXV, which include receipt by the TSXV of satisfactory final documentation in respect of the Transaction, completion of a concurrent equity financing for minimum gross proceeds of $1.3 million and receipt by the Company of the written consent of the holders of more than 50% of the issued and outstanding common shares of the Company held by disinterested shareholders.

Silver Spruce Resources Inc. is pleased to announce that its Board of Directors has approved the appointment of Karl J. Boltz as President and Chief Executive Officer of the Company. Mr. Boltz has also been appointed by the Board to serve as a Director of Silver Spruce.

BACANORA MINERALS LTD. – the Board of Bacanora, the Canadian and London listed company focused on developing the Sonora Project in Mexico, is pleased to announce changes to the composition of the Board. These are in line with the Company’s strategy to build a robust and independent Board with a complementary skill set to effectively facilitate the development of Sonora into a world class lithium carbonate operation.

Jim Culver, President of VVC commented that, “We are very pleased at the market reception to the Company’s placement, and the commitment of our existing shareholders to supporting the Company. With the recent increases in the price of copper, VVC’s prospects, with the Samalayuca Copper Project look especially bright.”

“I wish to thank the owners of the concessions for granting the extension of the option agreement and continuing strong support” said Brian Robertson, President and CEO of Source. “The extension, in conjunction with our previously announced proposed private placement and planned drilling program, will provide additional time for us to advance the property and complete a mineral resource estimate.”

Closing of the Offering is expected to occur on November 28, 2016, subject to obtaining customary TSX.V and NYSE MKT approvals. The Company intends to allocate the net proceeds of the Offering to advance the exploration and development of the Company’s Avino Mine and the exploration and development activities on the Bralorne Mine Property in British Columbia, and for general working capital.

Fred Davidson, President and CEO, stated, “IMPACT continues to focus its efforts on upgrading mining operations, improving efficiency, and sourcing superior grade feed from its mines in order to keep production economical and adapt to price fluctuations. Operationally, the Company continues to improve its mine operating income, achieving income of $1.6 million in the first three quarters of 2016 compared to a loss of $0.2 million in 2015. EBITDA improved 400% to $0.8 million in the first three quarters of 2016 from $0.02 million in 2015. The Company continues to achieve positive cash flows in each quarter of 2016. IMPACT is managing a lean operation during these challenging times in the mining industry. Our immediate goal is to enhance profitability in the next few quarters through: increasing our processing capacity, expanding our reserves, and carry out an exploration program which will include drilling a number of key targets.

“With the completion of our ATM equity offering and expected further reductions in our remaining debt levels, we plan to end the year with one of the stronger, more flexible balance sheets in the sector,” said Mitchell J. Krebs, President and Chief Executive Officer. “Following the completion of this partial redemption, our total debt will have declined by over 60% since the end of the third quarter 2015, translating to over $29 million in anticipated annual cash interest savings that will be invested in initiatives that will lead to high-quality future growth of our Company.”

Palamina Corp. has appointed Hugh Agro to the board of Palamina Corp. and accepted Glenton Masterman’s resignation. Palamina would like to thank Glen for his support and efforts in advising Palamina. Glen recently relocated to Australia and we want to wish him every success in his new endeavours. Palamina has granted Hugh Agro 150,000 options of Palamina Corp. under its Stock Option Plan. All options are exercisable at $0.16 per common share and expire on November 15, 2021.