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i-80 Gold Announces Closing of Upsized Private Placement
i-80 Gold Announces Closing of Upsized Private Placement Canada NewsWire RE...
About this update from I-80 Gold Corp
[{"type":"text","content":"\n \n \n \n i-80 Gold Announces Closing of Upsized Private Placement\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n RENO, Nev.\n \n \n ,\n \n \n Feb. 22, 2023\n \n \n /CNW/ -\n \n i-80 GOLD CORP.\n \n (TSX: IAU) (NYSE: IAUX)\n \n (\"i-80\", or the \"Company\")\n \n is pleased to announce the closing of the previously announced upsized \"best efforts\" private placement offering (the \"\n \n Offering\n \n \") of\n \n US$65,000,000\n \n principal amount of secured convertible debentures (the \"\n \n Convertible Debentures\n \n \") of the Company (see press releases dated\n \n February 2, 2023\n \n and\n \n February 3, 2023\n \n ).\n \n \n The Convertible Debentures will bear a fixed interest of 8.00% per annum and will mature on\n \n February 22, 2027\n \n , being the date that is four years from the Offering closing date (the \"\n \n Maturity Date\n \n \"). The Convertible Debentures\n \n will be the senior unsecured obligation of the Company, and\n \n will be secured on a limited recourse basis by Premier Gold Mines\n \n USA\n \n , Inc., the Company's wholly-owned subsidiary, with recourse limited to a pledge of all present and future\n \n limited liability company units\n \n issued by its wholly-owned subsidiary, Au-Reka Gold LLC (\"\n \n Au-Reka\n \n \"). The Convertible Debentures will be guaranteed on a full recourse basis by Au-Reka which is secured by a first ranking security over all of Au–Reka's present and future real and personal property (including the McCoy-Cove project).\n \n \n The Convertible Debentures are not redeemable prior to the Maturity Date; provided, however, that, if the Company has not executed the security documents relating to the security being provided in connection with the Offering within 90 days from the date hereof, the Company shall be obligated to repurchase the Convertible Debentures, by the date that is 120 days from the date hereof, at a price equal to 100% of the principal amount of the Convertible Debentures then outstanding plus any accrued and unpaid interest thereon u...