Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V:ITR; NYSE American:ITRG) is pleased to announce
that it has closed its previously announced bought deal financing
(the “Offering”). Pursuant to the Offering, Integra issued
6,785,000 common shares of the Company (the “Common Shares”),
including 885,000 Common Shares issued in connection with the
exercise in full of the over-allotment option granted to the
Underwriters (as defined below) in connection with the Offering, at
a price of US$2.55 per Common Share for gross proceeds of
US$17,301,750.
Coeur Mining, Inc., which held approximately 6%
of the issued and outstanding common shares of Integra prior to the
Offering, exercised its participation right and has maintained its
ownership of approximately 6% through the purchase of a total of
423,213 Common Shares in the Offering.
The Offering was completed through a syndicate
of underwriters led by Raymond James Ltd., and including Cormark
Securities Inc., National Bank Financial Inc., PI Financial
Corporation, Stifel Nicolaus Canada Inc., Canaccord Genuity Corp.,
Desjardins Securities Inc., H.C. Wainwright & Co., LLC, iA
Private Wealth Inc., and Roth Canada, ULC (collectively the
“Underwriters”). The Underwriters received a cash commission equal
to 5.5% of the gross proceeds of the Offering (other than from the
issue and sale of the Common Shares to Coeur Mining, Inc., for
which a 2.75% cash commission was paid).
The Company filed a preliminary prospectus
supplement on September 13, 2021 (the “Preliminary Supplement”) to
its short form base shelf prospectus dated August 21, 2020 (the
“Base Shelf Prospectus”). The Company filed a final prospectus
supplement (the “Final Supplement” and, together with the
Preliminary Supplement, the “Supplements”) to its Base Shelf
Prospectus on September 14, 2021. The Supplements were filed with
the securities regulatory authorities in each of the provinces and
territories of Canada, except Québec. The Supplements were also
filed with the United States Securities and Exchange Commission
(“SEC”) as part of the Company’s Registration Statement on Form
F-10 (File No. 333-242483) (the “Registration Statement”) in
accordance with the Multijurisdictional Disclosure System
established between Canada and the United States.
The Company intends to use the net proceeds to
fund exploration and development expenditures at the DeLamar
Project and for working capital and general corporate purposes.
The Company has filed a registration statement
on Form F-10 with the SEC for the Offering to which this
communication relates. Before you invest, you should read the
Registration Statement, the Supplements and other documents the
Company has filed with the SEC for more complete information about
the Company and this Offering. You may get these documents for free
by visiting EDGAR on the SEC website at www.sec.gov or on the SEDAR
website at www.sedar.com. Alternatively, the Company, any
Underwriter or any dealer participating in the Offering will
arrange to send you the Supplements or you may request it from
Integra at 1050-400 Burrard Street, Vancouver, British Columbia,
Canada, V6C 3A6, telephone (604) 416-0576.
About Integra ResourcesIntegra
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
completion of a Pre-Feasibility Study in Q4 2021 designed to
advance the DeLamar Project towards permitting and 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
DIRECTORS
George SalamisPresident, CEO and Director
CONTACT INFORMATIONCorporate
inquiries: ir@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 and U.S. 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:
the use of the net proceeds from the Offering; anticipated
advancement of mineral properties or programs; future operations;
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 impact of COVID-19 on the
timing of exploration and development work; 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. Such factors are described
in detail in the Supplements and the documents incorporated by
reference in the Supplements.
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 and there may
be other factors that cause results not to be anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking information.
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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