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i-80 Gold Announces C$12,576,000 Top-Up Subscription by Equinox Gold
i-80 Gold Announces C$12,576,000 Top-Up Subscription by Equinox Gold Canada New...
About this update from I-80 Gold Corp
[{"type":"text","content":"\n \n \n \n i-80 Gold Announces C$12,576,000 Top-Up Subscription by Equinox Gold\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n RENO, Nev.\n \n ,\n \n Dec. 10, 2021\n \n /CNW/ -\n \n i-80 GOLD CORP.\n \n (TSX: IAU) (OTCQX: IAUCF)\n \n (\"i-80\", or the \"Company\")\n \n is pleased to confirm that Equinox Gold Corp. (\"\n \n Equinox\n \n \") has exercised its right under the support agreement (the \"\n \n Agreement\n \n \") dated\n \n April 7, 2021\n \n between the Company and Equinox to defend its\n \n pro rata\n \n ownership of i-80 shares on a partially-diluted basis following the recent issuance of shares by the Company in connection with the acquisitions of the Lone Tree and Buffalo Mountain gold deposits from Nevada Gold Mines LLC and the Ruby Hill mine from affiliates of Waterton Global Resource Management. In connection with the Agreement, Equinox subscribed for 4,800,000 new common shares of the Company at a price of\n \n C$2.62\n \n per common share, for gross proceeds to the Company of\n \n C$12,576,000\n \n (the \"\n \n Subscription\n \n \").\n \n \n \n \n \n \n \n \n \n As a consequence of its level of ownership of the Company's shares, Equinox is considered a \"related party\" of i-80 pursuant to applicable Canadian securities laws, including Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n of the Canadian Securities Regulators (\"\n \n MI 61-101\n \n \"), as well as an 'insider' of i-80 for the purposes of the rules and regulations of the Toronto Stock Exchange (the \"\n \n TSX\n \n \"). The exercise by Equinox of its top-up right and Subscription for additional shares of i-80 is considered a \"related-party transaction\" for the purposes of MI 61-101. The Company is relying on exemptions from the formal valuation and minority securityholder approval requirements otherwise necessary for \"related party transa...