Business
i-80 Gold Secures Financing Package of up to $500 Million to Advance Development Plan
i-80 GOLD CORP. (TSX: IAU) (NYSE American: IAUX) ("i-80 Gold" or the "Company") is pleased to announce that it has secured a financing package (the "Financing Package") of up to $500 million, comprised of a royalty sale for $250 million and a gold pre-payment facility for up to $250 million. The Financing Package marks a significant milestone in achieving the Company's recapitalization plans.
About this update from I-80 Gold Corp
[{"type":"text","content":"Recapitalization plan anticipated to close by the end of the first quarter 2026 ","length":79,"tagName":"p","attribs":{}},{"type":"text","content":"All amounts referenced herein are expressed in United States dollars unless otherwise stated.","length":93,"tagName":"p"},{"type":"text","content":"TORONTO, Feb. 12, 2026 /CNW/ - i-80 GOLD CORP. (TSX: IAU) (NYSE American: IAUX) ("i-80 Gold" or the "Company") is pleased to announce that it has secured a financing package (the "Financing Package") of up to $500 million, comprised of a royalty sale for $250 million and a gold pre-payment facility for up to $250 million. The Financing Package marks a significant milestone in achieving the Company's recapitalization plans.","length":480,"tagName":"p"},{"type":"text","content":"The proceeds of the Financing Package, combined with the previously disclosed equity offerings completed by the Company in the second quarter of 2025(1) (the "Equity Offerings"), represent over $800 million in funding to support i-80 Gold's objective of creating a mid-tier gold producer in Nevada. The final steps to complete the recapitalization plan targeting an overall amount of $900 million to $1 billion, include the Company's plan to retire and replace its existing convertible debentures with new convertible debentures on terms more favourable to the Company and the potential sale of a non-core asset. This is expected to fully fund Phase 1 and Phase 2 of the development plan(2,3), which is expected to increase annual production to approximately 300,000 – 400,000 ounces of gold(3) from less than 50,000 ounces currently, driven by the Company's three underground mines and one oxide open pit operation all located in Nevada (see Figure 1 in Appendix).","length":992,"tagName":"p"},{"type":"text","content":"Highlights ","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Franco-Nevada Corporation ("Franco-Nevada") commitment letter to provide $250 million in royalty financing, of which $225 million is expected to be available at closing.","length":179,"tagName":"p"}]},{"val":[{"type":"text","content":"National Bank of Canada ("National Bank") and Macquarie Bank Limited ("Macquarie") commitment to provide a gold prepayment faci...