Integra Resources (ITR-V) Closes Upsize Bought Deal Financing for US$17 Million
Sept 17, '21 - NR
Integra Resources is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”). Pursuant to the Offering, Integra issued 6,785,000 common shares of the Company (the “Common Shares”), including 885,000 Common Shares issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) in connection with the Offering, at a price of US$2.55 per Common Share for gross proceeds of US$17,301,750.
Coeur Mining, Inc., which held approximately 6% of the issued and outstanding common shares of Integra prior to the Offering, exercised its participation right and has maintained its ownership of approximately 6% through the purchase of a total of 423,213 Common Shares in the Offering.
The Offering was completed through a syndicate of underwriters led by Raymond James Ltd., and including Cormark Securities Inc., National Bank Financial Inc., PI Financial Corporation, Stifel Nicolaus Canada Inc., Canaccord Genuity Corp., Desjardins Securities Inc., H.C. Wainwright & Co., LLC, iA Private Wealth Inc., and Roth Canada, ULC (collectively the “Underwriters”). The Underwriters received a cash commission equal to 5.5% of the gross proceeds of the Offering (other than from the issue and sale of the Common Shares to Coeur Mining, Inc., for which a 2.75% cash commission was paid).
The Company filed a preliminary prospectus supplement on September 13, 2021 (the “Preliminary Supplement”) to its short form base shelf prospectus dated August 21, 2020 (the “Base Shelf Prospectus”). The Company filed a final prospectus supplement (the “Final Supplement” and, together with the Preliminary Supplement, the “Supplements”) to its Base Shelf Prospectus on September 14, 2021. The Supplements were filed with the securities regulatory authorities in each of the provinces and territories of Canada, except Québec. The Supplements were also filed with the United States Securities and Exchange Commission (“SEC”) as part of the Company’s Registration Statement on Form F-10 (File No. 333-242483) (the “Registration Statement”) in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
The Company intends to use the net proceeds to fund exploration and development expenditures at the DeLamar Project and for working capital and general corporate purposes.
The Company has filed a registration statement on Form F-10 with the SEC for the Offering to which this communication relates. Before you invest, you should read the Registration Statement, the Supplements and other documents the Company has filed with the SEC for more complete information about the Company and this Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov or on the SEDAR website at www.sedar.com. Alternatively, the Company, any Underwriter or any dealer participating in the Offering will arrange to send you the Supplements or you may request it from Integra at 1050-400 Burrard Street, Vancouver, British Columbia, Canada, V6C 3A6, telephone (604) 416-0576.
About Integra Resources
Integra is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600 M in 2017. Since acquiring the DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and silver Deposits, in late 2017, the Company has demonstrated significant resource growth and conversion while providing a robust economic study in its maiden Preliminary Economic Assessment. The Company is currently focused on resource growth through brownfield and greenfield exploration and the completion of a Pre-Feasibility Study in Q4 2021 designed to advance the DeLamar Project towards permitting and a potential construction decision. For additional information, please reference the “Technical Report and Preliminary Economic Assessment for the DeLamar and Florida Mountain Gold – Silver Project, Owyhee County, Idaho, USA (October 22, 2019).”
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
CONTACT INFORMATION
Corporate inquiries: ir@integraresources.com
Office phone: 1-604-416-0576 |
