Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V: ITR; NYSE American: ITRG) today announced that it
has entered into an at-the-market Equity Distribution Agreement
(the “Agreement”) with Stifel, Nicolaus &
Company, Incorporated (“Stifel”) to establish an at-the-market
equity program (the “ATM Program”). The ATM Program, if used, will
allow Common Shares to be issued in an opportunistic manner from
treasury to the public from time to time, at the Company’s
discretion. If the Company decides to utilize the ATM Program, net
proceeds would be expected to fund additional exploration drilling.
Any Common Shares sold under the ATM Program will be sold at the
prevailing market price at the time of sale, when sold through the
NYSE American LLC (“NYSE American”) or any other existing trading
market for the Common Shares in the United States. No common shares
will be offered or sold in Canada.
The Company has filed a prospectus supplement
(the “Supplement”) dated December 30, 2020 to a short form base
shelf prospectus dated August 21, 2020 (the “Base Prospectus”) and
in the United States pursuant to a registration statement on Form
F-10, which was declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on August 24, 2020 (the
“Registration Statement”), in accordance with the
Multijurisdictional Disclosure System established between Canada
and the United States.
Copies of the Supplement and accompanying Base
Prospectus may be obtained by contacting Stifel, Nicolaus &
Company, Incorporated, Attn: Syndicate Department, 1 South Street,
15th Floor, Baltimore, MD 21202, by telephone at 855-300-7136 or by
email at syndprospectus@stifel.com. The Sales Agreement, the
Supplement and the accompanying Base Prospectus can also be found
on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities, nor will
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Integra Resources
Integra 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 is led by the
management team from Integra Gold Corp. which successfully grew,
developed and sold the Lamaque Project, in Quebec, for C$600 M in
2017. Since acquiring the DeLamar Project, which includes the
adjacent DeLamar and Florida Mountain gold and silver Deposits, in
late 2017, the Company has demonstrated significant resource growth
and conversion while providing a robust economic study in its
maiden Preliminary Economic Assessment. The Company is currently
focused on resource growth through brownfield and greenfield
exploration and the start of pre-feasibility level studies designed
to advance the DeLamar Project towards a potential construction
decision. For additional information, please reference the
“Technical Report and Preliminary Economic Assessment for the
DeLamar and Florida Mountain Gold – Silver Project, Owyhee County,
Idaho, USA (October 22, 2019).”
ON BEHALF OF THE BOARD OF DIRECTORSGeorge
SalamisPresident, CEO and Director
CONTACT INFORMATIONCorporate Inquiries:
ir@integraresources.comCompany website:
www.integraresources.comOffice phone: 1 (604) 416-0576
Forward looking and other cautionary
statements
This news release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of the applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that involves discussion with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often, but
not always using phrases such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved) are not statements of
historical fact and may be forward-looking statements. In this news
release, forward-looking statements relate, among other things, to:
statements about raising funds through the ATM Program, use of
proceeds from the ATM Program, the estimation of mineral resources;
magnitude or quality of mineral deposits; anticipated advancement
of mineral properties or programs; future operations; future
exploration prospects; the completion and timing of mineral
resource estimates and PEA; future growth potential of Integra; and
future development plans.
These forward-looking statements, and any
assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our
business. Management believes that these assumptions are
reasonable. Forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include, among others: risks related to
the speculative nature of the Company’s business; the Company’s
formative stage of development; the Company’s financial position;
possible variations in mineralization, grade or recovery rates;
actual results of current exploration activities; actual results of
reclamation activities; conclusions of future economic evaluations;
business integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of gold, silver, base metals or certain
other commodities; fluctuations in currency markets (such as the
Canadian dollar to United States dollar exchange rate); change in
national and local government, legislation, taxation, controls
regulations and political or economic developments; risks and
hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formation pressures, cave-ins and
flooding); inability to obtain adequate insurance to cover risks
and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties. Although the forward-looking statements contained in
this news release are based upon what management of Integra
believes, or believed at the time, to be reasonable assumptions,
Integra cannot assure its shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be anticipated, estimated
or intended.
Forward-looking statements contained herein are
made as of the date of this news release and the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or results, except as
may be required by applicable securities laws. There can be no
assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
information.
Cautionary Note to U.S. Investors
Concerning Estimates of Measured, Indicated and Inferred
Resources
The terms “mineral resource”, “measured mineral
resource”, “indicated mineral resource”, “inferred mineral
resource” used herein are Canadian mining terms used in accordance
with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects ("NI 43-101") under the guidelines set out in the
Canadian Institute of Mining and Metallurgy and Petroleum (the
“CIM”) Standards on Mineral Resources and Mineral Reserves, adopted
by the CIM Council, as may be amended from time to time (the “CIM
Definition Standards”). Inferred mineral resources' have a great
amount of uncertainty as to their existence, and as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an inferred mineral resource will ever be upgraded to a
higher category. These definitions differ from the definitions in
the United States Securities and Exchange Commission (the "SEC")
Industry Guide 7 ("Industry Guide 7"). United
States investors are cautioned not to assume that all or any
part of measured or indicated mineral resources will ever be
converted into mineral reserves. United States investors are
also cautioned not to assume that all or any part of an inferred
mineral resource exists, or is economically or legally
mineable.
Under Industry Guide 7, a mineral reserve is
defined as a part of a mineral deposit which could be economically
and legally extracted or produced at the time the mineral reserve
determination is made. While the terms “mineral resource”,
“measured mineral resource”, “indicated mineral resource”, and
“inferred mineral resource” are recognized and required by Canadian
regulations, they are not defined terms under Industry Guide 7 and
historically they have not been permitted to be used in reports and
registration statements filed with the SEC. As such, information
contained herein concerning descriptions of mineralization and
resources under Canadian standards may not be comparable to similar
information made public under Industry Guide 7 by U.S. companies in
SEC filings.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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