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i-80 Gold Closes $250 Million Royalty Financing with Franco-Nevada and Completes Retirement of Certain Legacy Debt Obligations
i-80 Gold Closes $250 Million Royalty Financing with Franco-Nevada and Completes Retirement of Ce...
About this update from I-80 Gold Corp
[{"type":"text","content":"\n\n\ni-80 Gold Closes $250 Million Royalty Financing with Franco-Nevada and Completes Retirement of Certain Legacy Debt Obligations\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\nCanada NewsWire\n\n\nAll amounts referenced herein are expressed in United States dollars unless otherwise stated.TORONTO, March 16, 2026 /CNW/ - i-80 GOLD CORP. (TSX:IAU) (NYSE American:IAUX) (\"i-80 Gold\" or the \"Company\") is pleased to announce that it has successfully completed the closing of the previously announced $250 million royalty financing (the \"Royalty Financing\") with a wholly-owned U.S. subsidiary of Franco-Nevada Corporation (\"Franco-Nevada\"). The Company used a portion of the Royalty Financing proceeds to complete the mandatory redemption of its 8% secured convertible debentures due in 2027 (\"2027 Convertible Debentures\") and to settle a convertible loan and Gold Prepay Agreement held by affiliates of Orion Mine Finance (\"Orion\").\n\n\n\n\n\n\n\n\"Together, these transactions represent a major step forward in the Company's recapitalization, significantly strengthening the balance sheet and positioning i-80 Gold to continue advancing its development plan towards becoming a mid-tier gold producer in Nevada,\" said Richard Young, President & Chief Executive Officer. \"We thank Orion, Franco-Nevada and our debenture holders for assisting the Company in advancing its prospective portfolio of projects.\" Completion of Franco-Nevada Royalty FinancingPursuant to the Royalty Financing, Franco-Nevada is paying $250 million to the Company in exchange for a 1.5% life-of-mine (\"LOM\") net smelter return royalty (\"NSR\"), stepping up to a 3.0% LOM net smelter return royalty on January 1, 2031. The royalty payable to Franco-Nevada applies to production from all mineral properties in the Company's portfolio. At closing, a total of $225 million of the Royalty Financing was advanced to the Company with approximately $165 million used to extinguish the legacy debt obligations described below, with the remaining balance to be used to advance the Mineral Point open pit o...