i-80 Gold Announces Upsizing of Previously Announced Bought Deal Public Offering of Units

About this update from I-80 Gold Corp

[{"type":"text","content":"i-80 Gold Announces Upsizing of Previously Announced Bought Deal Public Offering of UnitsThe base shelf prospectus is accessible, and the shelf prospectus supplement and any amendment to the documents will be accessible within two business days through SEDAR+\n\n\n\n RENO, Nev., May 09, 2025 (GLOBE NEWSWIRE) --\n \n i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80” or the “Company”)\n \n is pleased to announce that as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Cormark Securities Inc. to increase the size of its previously announced bought deal financing. i-80 will now issue 320,000,000 units of the Company (“Units”) at a price of US$0.50 per Unit for aggregate gross proceeds of US$160,000,000 (the “Offering”).\n \n\n Each Unit is comprised of one common share (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of US$0.70 for a period of 30 months following the closing of the Offering.\n \n\n The Company has also granted to the Underwriters an over-allotment option to purchase an additional 15% of the base Offering, for additional gross proceeds to the Company of up to US$24,000,000, to acquire Units, Common Shares and/or Warrants (or any combination thereof), at the Underwriters’ discretion, and shall be exercisable by the Underwriters, in whole or in part, for a period of 30 days from and including the closing date.\n \n\n In all other respects, the terms of the Offering and use of proceeds therefrom will remain as previously disclosed in the original press release dated May 9, 2025. The Offering is expected to close on or about May 16, 2025 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE American.\n \n\n The Offering will be made in the United States pursuant to an effective shelf registration statement on Form S-3 (No. 333-286531) that was filed by i-80 with the Securities and Exchange Commission (the “SEC”) on April 14, 2025, as amended...

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