i-80 Gold Corp. announced the closing of its previously announced bought deal public offering, successfully issuing 345,760,000 units. The offering generated aggregate gross proceeds of US$172,880,000, which includes the full exercise of the over-allotment option.
Each unit in the offering was priced at US$0.50 and comprised one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of US$0.70 until November 16, 2027.
The company anticipates that a concurrent private placement of 22,240,000 units, aiming for US$11,120,000 in gross proceeds, will close around May 20, 2025. The combined net proceeds from both offerings are intended for growth expenditures supporting i-80 Gold's new development plan in Nevada and for general working capital and corporate purposes.
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