i-80 Gold Corp. upsizes offering to $160 million due to demand

RENO, Nev. - i-80 Gold Corp. (TSX:IAU) (NYSE:IAUX), a Nevada-focused mining company with a market capitalization of $46.49 billion, has announced an increase in its previously announced bought deal financing due to high demand. According to InvestingPro data, the company’s stock is trading near its 52-week high of $64.98, reflecting strong investor confidence. The company will now issue 320 million units at $0.50 each, aiming to raise aggregate gross proceeds of $160 million.

Each unit consists of one common share and a half warrant, with each full warrant allowing the holder to purchase an additional common share at $0.70 within 30 months post-closing. The underwriters, led by National Bank Financial Inc. and Cormark Securities Inc., have also been granted an over-allotment option for an additional 15% of the base offering, potentially adding up to $24 million in gross proceeds.

The offering, expected to close on or about May 16, 2025, is subject to customary conditions, including approvals from the Toronto Stock Exchange and NYSE American. It is part of a shelf registration statement on Form S-3 filed with the SEC on April 14, 2025, and declared effective on May 7, 2025. A prospectus supplement relating to the offering will be filed with the SEC.

Prospective investors in the United States and Canada can access the prospectus supplements and accompanying base prospectuses via the SEC and SEDAR+ websites, respectively. The offering is also available to offshore investors through private placement.

i-80 Gold Corp. is the fourth largest gold mineral resource holder in Nevada and is working towards becoming a mid-tier gold producer. The company is executing a hub-and-spoke mining and processing strategy to maximize efficiency and growth, leveraging its fully permitted central processing facility. InvestingPro analysis shows the company maintains a P/E ratio of 3.72 and has been profitable over the last twelve months, with an overall financial health score rated as "GREAT". Want to discover more insights about i-80 Gold’s financial health and growth potential? Access additional ProTips and detailed metrics with an InvestingPro subscription.

This news is based on a press release statement from i-80 Gold Corp. and does not constitute an offer to sell or a solicitation of an offer to buy the securities. The sale of these securities will not be lawful in any jurisdiction without registration or qualification under the applicable securities laws. For comprehensive analysis and real-time updates on i-80 Gold Corp.’s performance, including exclusive ProTips and advanced valuation metrics, visit InvestingPro.

In other recent news, i-80 Gold Corp has announced a significant financial development by securing $135 million through a bought deal offering. This agreement involves National Bank Financial Inc. and Cormark Securities Inc. as co-bookrunners, who will purchase 270 million units of the company at $0.50 each. The offering also includes an over-allotment option, allowing the underwriters to acquire an additional 15% of the units within 30 days, potentially raising an extra $20.25 million. Each unit comprises one common share and one-half of a common share purchase warrant, with the latter allowing holders to buy one common share at $0.70 for 30 months post-closing. The funds raised are earmarked for growth expenditures to support the company’s development plans in Nevada and for general corporate purposes. This offering is expected to close around May 16, 2025, subject to customary approvals from the Toronto Stock Exchange and NYSE American. The prospectus supplements detailing the use of proceeds will be filed in the U.S. and Canada on May 13, 2025. This development aligns with i-80 Gold Corp’s strategy to advance its high-grade exploration projects and ramp up production.

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