- Integra Resources Corp. (ITR) has closed its overnight marketed public offering
- Integra issued 16,666,667 common shares at US$0.66 per share for gross proceeds of US$11 million
- Regarding its convertible loan facility of up to $20 million from Beedie Investments Ltd., Integra intends to draw an initial advance of $10 million today
- Integra plans to use the initial advance along with the net proceeds from the offering to advance the development of the DeLamar Project
- Integra Resources Corp. is a development-stage mining company
- Integra Resources Corp. was up 0.588 per cent, trading at C$0.855 at 10:33 AM ET
Integra Resources Corp. (ITR) has closed its previously announced overnight marketed public offering.
Integra issued 16,666,667 common shares at US$0.66 per share for gross proceeds of US$11 million.
The company issued 1,515,152 shares in connection with the exercise of the over-allotment option.
Integra intends to draw an initial advance of $10 million of the up to $20 million convertible loan facility agreed to between Integra and Beedie Capital.
Integra plans to use the initial advance along with the net proceeds from the offering to advance the development of the DeLamar Project.
“With both the offering and initial advance complete, Integra now has the treasury to continue advancing DeLamar towards the plan of operations while demonstrating the gold-silver upside potential of the project in the low-stockpiles and backfill left behind by previous operators,” said Integra President and CEO, George Salamis.
The convertible facility bears annual interest at a rate of 8.75 per cent on advanced funds and carries a standby fee equal to 2.00 per cent annually on the unadvanced portion of the convertible facility.
Integra Resources Corp. is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar gold-silver project in Idaho, USA.
Integra Resources Corp. was up 0.588 per cent, trading at $0.855 at 10:33 AM ET.