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Title : Mining PRs and the Ottotrans™, Part 110
link : Mining PRs and the Ottotrans™, Part 110

Mining PRs and the Ottotrans™, Part 110

Another episode in the occasional series that tries to translate the English used in mining company news releases into English used by normal human beings. Today we feature Americas Gold & Silver (USAS) (USA.to)

This is what they said:

TORONTO, Sept. 4, 2020 /CNW/ -- Americas Gold and Silver Corporation (the "Company") (TSX: USA; NYSE American: USAS) is pleased to announce that it has closed its previously announced and upsized bought deal financing with a syndicate of underwriters co-led by Desjardins Capital Markets and Cormark Securities Inc., and including Stifel GMP, Clarus Securities Inc., and Laurentian Bank Securities Inc., (collectively the "Underwriters"). A total of 10,204,510 common shares of the Company (the "Common Shares"), including the partial exercise of the over-allotment option by the Underwriters, were sold at a price of C$3.86 per Common Share, for aggregate gross proceeds to the Company of C$39,389,409 (the "Offering").
The net proceeds from the sale of the Common Shares will be used for the exploration, development and/or improvement of the Company's existing mine properties, including those relating to bringing Relief Canyon into commercial production and for working capital and general corporate purposes, as detailed in the Prospectus (as defined below).

And this is what it means:

TORONTO, Sept. 4, 2020 /CNW/ -- Americas Gold and Silver Corporation (the "Company") (TSX: USA; NYSE American: USAS) is pleased to announce that it has closed its previously announced and upsized bought deal financing with a syndicate of underwriters co-led by Desjardins Capital Markets and Cormark Securities Inc., and including Stifel GMP, Clarus Securities Inc., and Laurentian Bank Securities Inc., (collectively the "Underwriters"). A total of 10,204,510 common shares of the Company (the "Common Shares"), including the partial exercise of the over-allotment option by the Underwriters, were sold at a price of C$3.86 per Common Share, for aggregate gross proceeds to the Company of C$39,389,409 (the "Offering").
The net proceeds from the sale of the Common Shares will be used to try and fix the mess we made with our new mine that doesn't work. It will also replace the cash we would have received if our Mexico mine were not on long-term strike because we treated our workforce like slaves for years and now under AMLO they are taking revenge.

Thus Article Mining PRs and the Ottotrans™, Part 110

That's an article Mining PRs and the Ottotrans™, Part 110 This time, hopefully can give benefits to all of you. well, see you in posting other articles.

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