VANCOUVER - Integra Resources Corp. (TSXV: ITR) (NYSE American: ITRG) has announced a bought deal public offering, securing gross proceeds of approximately C$10 million. The agreement involves a syndicate of underwriters purchasing 11,112,000 units of the company at C$0.90 per unit.
Each unit includes one common share and one-half of a common share purchase warrant. Holders of these warrants are entitled to acquire an additional common share at a price of C$1.20 within a 36-month period following the offering's close. The underwriters also retain a 30-day option to purchase up to an additional 15% of the units sold to manage market stabilization and potential over-allotments.
The net proceeds from this offering are earmarked for exploration and development activities at Integra's DeLamar Project and Nevada North Project, as well as for working capital and general corporate purposes.
The offering is expected to close on or about March 13, 2024, contingent on regulatory approvals, including from the TSX Venture Exchange. Efforts will also be made to list the warrants on the TSXV.
This offering is being made through a prospectus supplement to Integra's base shelf prospectus in Canada, excluding Quebec, and will be available on SEDAR+. The securities mentioned are not registered under the U.S. Securities Act of 1933 and are not being offered in the United States, barring registration or an exemption.
The company's forward-looking statements indicate plans for the use of proceeds and the listing of warrants on the TSXV. However, these plans are subject to risks and uncertainties, including regulatory approvals and market conditions.
This news is based on a press release statement from Integra Resources Corp.
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