RENO,
Nev., Aug. 12, 2024 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to announce that is has established
an at-the-market equity program (the "ATM Program").
The ATM Program has been implemented pursuant to the terms of an
equity distribution agreement dated August
12, 2024 (the "Equity Distribution Agreement"), among the
Company, National Bank Financial Inc., Canaccord Genuity, Stifel
Nicolaus Canada Inc., RBC Dominion Securities Inc., Scotia Capital
Inc., National Bank of Canada Financial Inc., Stifel, Nicolaus
& Company, Incorporated, RBC Capital Markets, LLC and Scotia
Capital (USA) Inc. (collectively,
the "Agents"). The ATM Program will allow i-80, through the Agents,
to, from time to time, offer and sell in Canada and the
United States through the facilities of the Toronto Stock
Exchange (the "TSX") and the NYSE American stock exchange (the
"NYSE American") such number of common shares in the capital of the
Company (the "Shares") as would have an aggregate offering price of
up to US$50 million. Sales of the
Shares, if any, will be made in transactions that are deemed to be
"at-the-market distributions" as defined in National Instrument
44-102 – Shelf Distributions and an "at-the-market offering" as
defined in Rule 415 under the United States Securities Act of 1933,
as amended, including sales made by the Agents directly on the TSX,
the NYSE American or any other trading market for common shares in
Canada or the United States or as otherwise agreed
between the Agents and the Company. The Shares that may be issued
by the Company under the ATM Program have been conditionally
approved for listing on the TSX and the NYSE American.
The offering of Shares under the ATM Program is being made
pursuant to a prospectus supplement dated August 12, 2024 (the "Canadian Prospectus
Supplement") to the final short form base shelf prospectus filed on
June 21, 2024 (the "Canadian Shelf
Prospectus"), each filed with the securities commissions in each of
the provinces and territories of Canada, and in the
United States pursuant to a prospectus supplement dated
August 12, 2024 (the "U.S. Prospectus
Supplement") to the Company's U.S. base prospectus contained in its
registration statement on Form F-10 (the "U.S. Base Prospectus")
filed with the United States Securities and Exchange Commission
("SEC") on June 24, 2024.
The ATM Program is expected to be effective until the earlier of
the date that the aggregate gross sales proceeds of the Shares sold
under the ATM Program reaches the aggregate amount of US$50.0 million (or the equivalent in Canadian
dollars) and on or about the end of the Company's first quarter,
unless terminated before such time or otherwise in accordance with
the Equity Distribution Agreement. The timing and extent of the use
of the ATM Program will be at the discretion of the Company.
Accordingly, total gross proceeds from equity offerings under the
ATM Program, if any, could be significantly less than US$50 million.
The Company intends to use any proceeds from the ATM Program to
advance the exploration, development, expansion, the repayment of
debt, and working capital requirements of the Company's McCoy Cove
Project, Granite Greek Project, Lone Tree Project, Ruby Hill
Project and for general corporate and working capital purposes.
Actual allocation of the proceeds may vary depending on the amount
raised, the time periods during which the proceeds are raised and
future developments in relation to the Company's projects and
unforeseen events.
Potential investors should read the Canadian Prospectus
Supplement, the Canadian Shelf Prospectus, the U.S. Prospectus
Supplement, the U.S. Base Prospectus and other documents the
Company has filed with the securities commissions of the provinces
and territories of Canada and the
SEC for more complete information about i-80 and the ATM Program.
Copies of the Canadian Shelf Prospectus and the Canadian Prospectus
Supplement can be found on i-80's profile on SEDAR+ at
www.sedarplus.ca and copies of the U.S. Base Prospectus and U.S.
Prospectus Supplement can be found on i-80's profile on EDGAR at
www.sec.gov. Potential investors can also request printed or
electronic copies of these documents by contacting National Bank
Financial Inc., Gavin Brancato by
email at gavin.brancato@nbc.ca or by phone at +1 416-869-7568.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful before registration
or qualification under the securities laws of any such
jurisdiction.
About i-80 Gold Corp.
i-80 Gold Corp. is a Nevada-focused mining company with a goal of
achieving mid-tier gold producer status through the development of
multiple deposits within the Company's advanced-stage property
portfolio with processing at i-80's centralized milling facilities.
i-80 Gold's common shares are listed on the TSX and the NYSE
American under the trading symbol IAU:TSX and IAUX:NYSE. Further
information about i-80 Gold's portfolio of assets and long-term
growth strategy is available at www.i80gold.com or by email at
info@i80gold.com.
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws, including but not limited to, the
future issuance of Shares sold under the ATM Program; the aggregate
gross proceeds of the ATM Program; and the use of proceeds from any
sales of Shares under the ATM Program, and the Company's other
future plans and expectations. Such statements and information
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of
the company, its projects, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements or
information. Such statements can be identified by the use of words
such as "may", "would", "could", "will", "intend", "expect",
"believe", "plan", "anticipate", "estimate", "scheduled",
"forecast", "predict" and other similar terminology, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. These statements reflect
the Company's current expectations regarding future events,
performance and results and speak only as of the date of this
release.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to: material adverse
changes, unexpected changes in laws, rules or regulations, or their
enforcement by applicable authorities; the failure of parties to
contracts with the company to perform as agreed; social or labour
unrest; changes in commodity prices; and the failure of exploration
programs or studies to deliver anticipated results or results that
would justify and support continued exploration, studies,
development or operations.
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SOURCE i-80 Gold Corp
