Integra Resources Corp. (TSX-V:ITR) (OTCQX:IRRZF) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option. A total of 14,375,000 common shares of the Company were sold at a price of $0.80 per Common Share, for aggregate gross proceeds of $11,500,000.
The Company plans to use the net proceeds from the Offering to fund exploration and development expenditures at the DeLamar Project and for general corporate purposes.
George Salamis, President and CEO of Integra Resources commented, “Given the difficult market conditions currently facing companies in the mining sector, we are extremely pleased with the investor demand shown in this recent financing, completing a financing with no warrants and at a minimal discount to the market share price. We are very happy to have added a new group of shareholders to our share registry, highlighted by the addition of several prominent European and North American institutional funds and large retail investors.” Mr. Salamis continued, “Integra has enjoyed a very successful 2018 on the exploration front, and we are keen to build on the momentum from our first exploration program at DeLamar as we look to grow the current inferred gold-silver resource in Idaho and explore new areas of the highly prospective DeLamar district.”
The Offering was made through a syndicate of underwriters led by Raymond James Ltd., including PI Financial Corp., BMO Capital Markets, and GMP Securities L.P. (the “Underwriters”). The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering (other than from the issue and sale of the Common Shares to certain purchasers on a president’s list, for which a 3% cash commission was paid). The Offering was completed by way of a short form prospectus filed in all of the provinces and territories of Canada, except Québec, and offered and sold elsewhere outside of Canada on a private placement basis. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Integra Resources
Integra Resources Corp. is a development-stage company engaged in the acquisition, exploration and development of mineral properties in the Americas. The primary focus of the Company is advancement of its DeLamar Project, consisting of the neighbouring DeLamar and Florida Mountain Gold and Silver Deposits in the heart of the historic Owyhee County mining district in south western Idaho. The first exploration program in over 25 years is currently underway on the DeLamar Project with more than 20,000 meters planned for 2018. The management team comprises the former executive team from Integra Gold Corp.
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