i-80 Gold Corp. announced the closing of its previously announced prospectus offering, successfully issuing 28,212,593 common shares. The shares were priced at C$0.80 per share, generating aggregate gross proceeds of approximately C$22,570,074 for the company.
This capital infusion is a key component of i-80 Gold's ongoing recapitalization plan, which aims to strengthen its balance sheet and fund its extensive development pipeline in Nevada. The proceeds will be allocated towards advancing its high-grade gold projects and supporting general corporate purposes.
The company also anticipates the closing of its concurrent private placement offering to certain directors and officers in the first week of February 2025. This financing move underscores the company's commitment to unlocking the value of its assets and progressing towards its goal of becoming a mid-tier gold producer.
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