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Aya Gold & Silver Inc. (TSX: AYA) is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”). A total of 6,830,000 common shares (the “Common Shares”) were sold under the Offering at a price of $10.25 per Common Share for aggregate gross proceeds to Aya of $70,007,500.

The Offering was conducted by a syndicate of underwriters co-led by Desjardins Capital Markets (“Desjardins”) and Sprott Capital Partners (collectively, the “Co-Lead Underwriters”) with Desjardins acting as sole bookrunner, and including Cormark Securities Inc., National Bank Financial Inc., Stifel GMP, and BMO Capital Markets (together with the Co-Lead Underwriters, the “Underwriters”).

The Common Shares were issued pursuant to a short form prospectus (the “Prospectus”) dated September 9, 2021, filed in each of the provinces of Canada. A copy of the Prospectus is available under the Company’s profile on SEDAR at www.sedar.com.

Aya intends to use the net proceeds of the Offering for the expansion of its Zgounder Mine, for advancement of its other properties and for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

Aya's management team has been focused on maximising shareholder value by anchoring sustainability at the heart of its operations governance, and financial growth plans.

Disclaimer: AYA Gold and Silver is not a marketing client

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