i-80 Gold Corp. announced the completion of the amendment and restatement of its convertible credit agreement with an affiliate of Orion Mine Finance. This action satisfies the conditions related to the previously announced deferral of gold and silver deliveries and the extension of the Orion Convertible Loan.
The maturity date of the amended and restated convertible credit agreement has been extended by six months, from December 13, 2025, to June 30, 2026. In connection with this extension, i-80 Gold has issued Orion five million common share purchase warrants, with an exercise price of C$1.01 and an expiry date of January 15, 2029.
Additionally, the company announced its intention to complete a prospectus financing of common shares for aggregate gross proceeds of US$10,000,000. The net proceeds from this offering are anticipated to be used for the development of the company's projects in Nevada, as well as for working capital and general corporate purposes, supporting the second phase of its recapitalization plan targeted for March 31, 2025.
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