Beedie Investments Limited Acquires Subscription Receipts in Integra Resources Corp

About this update from Integra Resources Corp

[{"type":"text","content":"Beedie Investments Limited Acquires Subscription Receipts in Integra Resources CorpVancouver, British Columbia--(Newsfile Corp. - March 16, 2023) - Beedie Investments Limited (the \"Beedie\") has acquired ownership of 3,375,000 subscription receipts (\"Subscription Receipts\") of Integra Resources Corp. (the \"Company\"), at a price of $0.70 per Subscription Receipt for aggregate consideration of $2,362,500 pursuant to the Company's bought deal private placement of 35,000,000 Subscription Receipts (the \"Offering\"). The gross proceeds from the Offering have been placed into escrow with TSX Trust Company (the \"Subscription Receipt Agent\"). Each Subscription Receipt represents the right of a holder to receive, upon satisfaction or waiver of certain release conditions (including the satisfaction of all conditions precedent to the completion of the business combination transaction (the \"Transaction\") involving the Company and Millennial Precious Metals Corp. (\"Millennial\"), other than the issuance of the consideration shares to shareholders of Millennial) (the \"Escrow Release Conditions\"), without payment of additional consideration, one common share in the capital of the Company (the \"Common Shares\") subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement entered into amongst the Company and the Subscription Receipt Agent. If the Escrow Release Conditions are satisfied on or before June 9, 2023 (the \"Termination Date\"), the escrowed funds, together with interest earned thereon, will be released to the Company. If the Escrow Release Conditions are not satisfied prior to the Termination Date, the escrowed funds, together with interest earned thereon, will be returned on a pro rata basis to the holders of the Subscription Receipts, and the Subscription Receipts will be cancelled and have no further force and effect.Immediately prior to the completion of the Offering and assuming conversion in full of the initial advance under the credit agreement dated July 28, 2022 between Beedie and the Company, as amended on February 26, 2023 (the \"Credit Agreement\"), into Common Shares in accordance with the terms of the Credit Agreement at Cdn$0.945 per Common Share and using the Bank of Canada's Canadian dollar / U.S. dollar daily average exchange rate on February 24, 2023 of Cdn$...

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