i-80 Gold Corp. Closes C$115 Million Bought Deal Public Offering
Summary
Each Warrant is exercisable to acquire one Common Share (each, a "Warrant Share") for a period of 48 months from closing of the Offering at an exercise price of C$2.15 per Warrant Share.The Offering was led by National Bank Financial Inc. as lead underwriter and sole bookrunner, together with Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. as co-lead underwriters, and BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Cormark Securities Inc. and PI Financial Corp. (collectively, the "Underwriters"). The Underwriters were paid a cash commission equal to 5% of the gross proceeds of the Offering, excluding proceeds from sales of Units to certain presidents list purchasers.The Offering was completed pursuant to a short form prospectus dated April 25, 2024 (the "Prospectus") in all of the provinces of Canada, except the province of Qu\xe9bec, and offered in the United States to "qualified institutional buyers" pursuant to an exemption from registration under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and in those other jurisdictions outside Canada and the United States pursuant to exemptions from prospectus and registration requirements.The net proceeds of the Offering will be used to advance the development of the Companys mineral properties and for general corporate purposes, as more particularly described in the Prospectus.Certain directors and officers of the Company named below (collectively, the "Insiders") purchased an aggregate of 300,000 Units pursuant to the Offering (the "Insider Participation"). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders participation in the Offering pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of any securities issued to, nor the consideration paid by, the Insiders exceeded 25% of i-80s market capitalization. Further information about i-80 Gold Corp.s portfolio of assets and long-term growth strategy is available at www.i80gold.com or by email at [email protected].Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the use of proceeds in connection with the Companys material properties. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.