Business Context and Reporting Period
Company: Avino Silver & Gold Mines Ltd.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: June 2025 (Specifically June 13, 2025)
Context: The Company entered into a Sales Agreement to establish an "at-the-market" (ATM) equity offering program.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, or debt levels. It is a disclosure of a capital raising mechanism.
- Maximum Offering Size: US$40.0 million in aggregate offering price.
- Commission Rate: Up to 3.0% of aggregate gross proceeds from each sale.
- Reimbursable Expenses: Up to US$100,000 for reasonable fees and expenses (including legal fees) payable upon execution.
Material Changes
The primary material change is the execution of a new Sales Agreement on June 13, 2025, with Cantor Fitzgerald & Co. (Designated Agent), H.C. Wainwright & Co., LLC, Roth Capital Partners, LLC, and A.G.P./Alliance Global Partners. This agreement supersedes or renews the Company's ability to sell common shares via an ATM program under a Registration Statement on Form F-10 declared effective on May 28, 2025.
Guidance, Outlook, and Risks
Management Commentary: The Company is not obligated to sell any shares under the agreement. Sales will be made at the Company's discretion based on market conditions and instructions regarding price, time, or size limits.
Termination: The agreement may be terminated by either party with 10 days' notice, or by an Agent under certain circumstances including a material adverse change.
Risks and Contingencies:
- There is no assurance the Company will sell all shares or any shares under the offering.
- Actual results and timing depend on market conditions and customary closing conditions.
- Forward-looking statements regarding the offering are subject to risks and uncertainties.
Investor Verification Checklist
- Verify the current market price of Avino Silver & Gold Mines Ltd. common shares to assess potential dilution impact.
- Review the full text of the Sales Agreement (Exhibit 10.1) for specific termination clauses and indemnification details.
- Monitor future filings for actual sales volumes and proceeds generated under this ATM program.
- Check the Company's latest financial statements (Form 40-F) for current liquidity needs, as this filing does not disclose cash position.