i-80 Gold Corp. announced it has entered into an agreement for a bought deal public offering of 270,000,000 units at a price of US$0.50 per unit, aiming for aggregate gross proceeds of US$135,000,000. Each unit comprises one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share at US$0.70 for 30 months.
The company has also granted the underwriters an over-allotment option to purchase an additional 15% of the base offering, which could provide up to an additional US$20,250,000 in gross proceeds. The net proceeds from this offering are intended to be used for growth expenditures supporting i-80 Gold's new development plan in Nevada, as well as for general corporate purposes.
The offering is expected to close on or about May 16, 2025, subject to necessary corporate and regulatory approvals, including from the Toronto Stock Exchange and the NYSE American. This significant capital raise is a crucial step in the company's recapitalization strategy to fund its ambitious project pipeline and achieve mid-tier gold producer status.
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