Business
ORION MINE FINANCE PROVIDES UPDATE ON ITS BENEFICIAL OWNERSHIP OF COMMON SHARES OF I-80 GOLD CORP.
Orion Mine Finance announced that Orion Mine Finance Fund II LP, a limited partnership managed by Orion Mine Finance Management II Limited and Orion Mine Finance Fund III LP, a limited partnership managed by Orion Mine Finance Management III LLC (collectively, "Orion"), sold a total of 3,350,800 common shares (each a "Common Share") of i-80 Gold Corp. ("i-80") from August 13, 2025 to August 15, 2025 (with 702,619 Common Shares sold on August 13, 2025, 1,257,543 Common Shares sold on August 14, 2
About this update from I-80 Gold Corp
[{"type":"text","content":"TORONTO, Aug. 18, 2025 /CNW/ - Orion Mine Finance announced that Orion Mine Finance Fund II LP, a limited partnership managed by Orion Mine Finance Management II Limited and Orion Mine Finance Fund III LP, a limited partnership managed by Orion Mine Finance Management III LLC (collectively, "Orion"), sold a total of 3,350,800 common shares (each a "Common Share") of i-80 Gold Corp. ("i-80") from August 13, 2025 to August 15, 2025 (with 702,619 Common Shares sold on August 13, 2025, 1,257,543 Common Shares sold on August 14, 2025 and 1,390,638 Common Shares sold on August 15, 2025) over the facilities of the Toronto Stock Exchangeat prices of C$0.8017 on August 13, 2025, C$0.8272 on August 14, 2025 and C$0.9056 on August 15, 2025 in cash per Common Share for aggregate gross proceeds of C$2,862,889.94 (collectively, the "Transactions").","length":886,"tagName":"p"},{"type":"text","content":"Immediately prior to the Transactions, Orion and its affiliates (collectively, the "Orion Group") owned 20,727,351 Common Shares and 16,808,788 Warrants. Additionally, immediately prior to the Transactions, US$67,133,712 (the "Loan Amount") was outstanding under the convertible credit agreement, dated December 13, 2021 (the "Convertible Loan") between, among others, OMF Fund III (F) Ltd. (a member of the Orion Group) and i-80. The Loan Amount is comprised of the US$50 million initial principal amount and interest that has accrued since December 13, 2021, which results in additional Common Shares being issuable upon conversion of the Loan Amount. The principal amount of the Convertible Loan or any portion thereof is convertible intoCommon Shares at the option of the lenders at a conversion price of C$3.275 per CommonShare (the "Conversion Price")at any time prior to the earlier of (a) the business daypreceding maturity date of the Convertible Loan and (b) the date of repayment in full of the principal amountof the Convertible Loan and all accrued and unpaid interest thereon (the "ConversionRight Expiry Date").Accrued and unpaid interest on the principal amount of the Convertible Loan is alsoconvertible, in whole or in part, into Common Shares at the option of the lenders at anytime prior to the Conversion Right Expiry Date at a conversion price eq...