/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TSXV: ITR; NYSE American:
ITRG
www.integraresources.com
VANCOUVER,
BC , March 6, 2024 /CNW/ - Integra
Resources Corp. ("Integra" or the "Company")
(TSXV: ITR) (NYSE American: ITRG) is pleased to announce that it
has entered into an amended agreement with Cormark Securities Inc.,
as lead and sole bookrunner, on behalf of a syndicate of
underwriters (collectively, the "Underwriters"), pursuant to
which the Underwriters have agreed to purchase, on a "bought deal"
basis, 14,445,000 units (the "Units") of the Company at a
price of C$0.90 per Unit (the
"Offering Price") for gross proceeds of approximately
C$13 million (the
"Offering").
Each Unit will consist of one common share of the
Company (a "Common Share") and one-half of one Common Share
purchase warrant (each whole Common Share purchase warrant, a
"Warrant"). Each Warrant will entitle the holder thereof to
purchase one Common Share at an exercise price of C$1.20 for a period of 36 months from the closing
of the Offering.
The Underwriters also have an option to purchase
that number of additional Units equal to 15% of the number of Units
sold pursuant to the Offering at Offering Price, for market
stabilization purposes and to cover over-allotments for a period
expiring 30 days after the date of closing.
The Company intends to use the net proceeds from
the Offering to fund exploration and development expenditures at
the DeLamar Project, the Nevada North Project, and for working
capital and general corporate purposes.
The Offering will be qualified by way of a
prospectus supplement (the "Prospectus Supplement") to the
Company's existing base shelf prospectus (the "Base Shelf
Prospectus") in each of the provinces and territories of
Canada (other than the province of
Quebec). The Prospectus Supplement
(together with the Base Shelf Prospectus) will be available on
SEDAR+ at www.sedarplus.ca.
Closing is expected on or about March 13, 2024 and is subject to TSX Venture
Exchange (the "TSXV") and other necessary regulatory
approvals. The Company will also use its best efforts to list the
Warrants on the TSXV.
This news release does not constitute an offer to
sell or a solicitation of an offer to buy any of the securities in
the United States. The securities
have not been registered under United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state
securities laws and may not be offered or sold within the United States, or to, or for the account
or benefit of, U.S. Persons (as defined in Regulation S under the
U.S. Securities Act), absent such registration or an applicable
exemption from such registration requirements.
About Integra
Integra is one of the largest precious metals
exploration and development companies in the Great Basin of the
Western USA. Integra is currently
focused on advancing its two flagship oxide heap leach projects:
the past producing DeLamar Project located in southwestern
Idaho and the Nevada North
Project, comprised of the Wildcat and Mountain View deposits,
located in northwestern Nevada.
The Company also holds a portfolio of highly prospective
early-stage exploration projects in Idaho, Nevada, and Arizona. Integra's long-term vision is to
become a leading USA focused
mid-tier gold and silver producer.
ON BEHALF OF THE BOARD OF DIRECTORS
Jason Kosec
President, CEO and Director
Some statements ("forward-looking
statements") in this news release contain forward-looking
information concerning plans related to Integra's business and
other matters that may occur in the future, made as of the date of
this news release including closing of the Offering and the use of
proceeds thereof; and listing of the Warrants on the TSXV.
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause
actual events or results to differ from those expressed or implied
by the forward-looking statements. Such factors include, among
others, risks related to regulatory approval of the Offering and
legislative and/or regulatory changes; actual results and timing of
exploration and development, mining, environmental services and
remediation and reclamation activities; future prices of silver,
gold, lead, zinc and other commodities; possible variations in
mineral resources, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; Native American
rights and title; continued capitalization and commercial
viability; global economic conditions; competition; and delays in
obtaining governmental approvals or financing or in the completion
of development activities. Forward-looking statements are based on
certain assumptions that management believes are reasonable at the
time they are made. In making the forward-looking statements
included in this news release, Integra has applied several material
assumptions, including, but not limited to, the assumptions that
all regulatory approvals of the Offering will be obtained and all
conditions precedent to completion of the Offering will be
fulfilled in a timely manner; that Integra will be able to raise
additional capital as necessary, that the proposed exploration and
development activities will proceed as planned, and that market
fundamentals will result in sustained silver, gold, lead and zinc
demand and prices. There can be no assurance that forward-looking
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Integra expressly disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as
otherwise required by applicable securities legislation.
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 news release.
SOURCE Integra Resources Corp.