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i-80 Gold Corp
Symbol IAU
Shares Issued 300,569,535
Close 2024-04-05 C$ 1.85
Market Cap C$ 556,053,640
Recent Sedar Documents

i-80 Gold arranges $85.6-million bought deal

2024-04-08 08:13 ET - News Release

Mr. Ewan Downie reports

I-80 ANNOUNCES C$86 MILLION BOUGHT DEAL PUBLIC OFFERING OF UNITS

i-80 Gold Corp. has entered into an agreement with National Bank Financial Inc., as lead underwriter on behalf of a syndicate of underwriters, under which the underwriters have agreed to purchase, on a bought deal basis, 51,882,000 units of the company at a price of $1.65 per unit for gross proceeds of $85,605,300. Each unit comprises one common share and one-half common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of $2.15 for a period of 48 months following the closing of the offering.

The company has also granted to the underwriters an overallotment option to purchase an additional 15 per cent of the base offering, for additional gross proceeds to the company of up to $12,840,795, to acquire units, common shares and/or warrants (or any combination thereof), at the underwriters' discretion, exercisable by the underwriters, in whole or in part, for a period of 30 days from and including the closing date.

The net proceeds of the offering, inclusive of the overallotment option if exercised, will be used to advance the development of the company's mineral properties and for general corporate purposes, as more particularly described in the short form prospectus. The units will be offered in all provinces of Canada, except for Quebec, by way of a short form prospectus, and in the United States to qualified institutional buyers pursuant to an exemption from registration under the United States Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada in accordance with applicable law.

The offering is expected to close on or about April 25, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American.

About i-80 Gold Corp.

i-80 Gold is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the company's advanced-stage property portfolio, with processing at i-80's centralized milling facilities.

We seek Safe Harbor.

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