Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG), headquartered in Vancouver, BC, is pleased to announce the completion of a bought deal private placement offering of 14,900,000 subscription receipts at a price of C$1.35 per Subscription Receipt, generating gross proceeds of approximately C$20 million. This Offering was managed by Stifel Nicolaus Canada Inc. and Eight Capital, along with a syndicate of underwriters including BMO Nesbitt Burns Inc., Desjardins Securities Inc., and Ventum Financial Corp.
The funds from the Offering have been placed in escrow with TSX Trust Company. Each Subscription Receipt represents the right to receive one common share in Integra, subject to certain release conditions being met by December 15, 2024. If the conditions are not met, the funds will be returned to holders of the Subscription Receipts, and the Receipts will be cancelled. The Subscription Receipts and Integra Shares are subject to a statutory hold period expiring on December 22, 2024.
Upon completion of the Transaction with Florida Canyon Gold Inc., the net proceeds from the Offering will be used to fund mine optimization opportunities at the Florida Canyon mine, advance DeLamar and Nevada North projects, and for general corporate purposes.
Integra is a precious metals exploration and development company focused on two flagship projects in the Western USA: the DeLamar Project in Idaho and the Nevada North Project in Nevada. The company also holds early-stage exploration projects in Idaho, Nevada, and Arizona with the goal of becoming a leading mid-tier gold and silver producer in the USA.
Jason Kosec, President, CEO, and Director of Integra Resources Corp., stated, “forward-looking statements in this news release contain forward-looking information concerning plans related to Integra’s business and other matters made as of the date of this news release.” Integra has applied material assumptions, including funding exploration and development activities as planned, to the forward-looking statements included in this release.
Integra Resources Corp. is not registered under the U.S. Securities Act and the securities offered through this Offering may not be sold in the United States without registration or exemption under U.S. securities law regulations.
For further information, please contact the company via email at [email protected], visit their website at www.integraresources.com, or call 1 (604) 416-0576.
SOURCE Integra Resources Corp.
