Integra Resources Increases Bought Deal Financing to C$22.0 Million
16 November 2019 - 1:58AM
Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V:ITR; OTCQX:IRRZF) is pleased to announce that it
has increased the size of its previously announced bought deal
public offering (the “Public Offering”) of common shares to
approximately C$22.0 million.
The Company has agreed to grant the Underwriters
an over-allotment option to purchase up to an additional 15% of
Public Offering Common Shares under the Public Offering at the
Issue Price, exercisable in whole or in part at any time for a
period ending 30 days from the closing of the Offering. In the
event the over-allotment option is exercised in full, the aggregate
gross proceeds of the Public Offering will be approximately C$25.3
million.
The net proceeds from the offerings will be used
to fund exploration and pre-feasibility level study expenditures at
the DeLamar Project and for general corporate purposes.
The Public Offering is expected to close on or
about December 4th, 2019.
The Company anticipates closing on the
non-brokered private placement with Coeur Mining Inc. on November
25, 2019 (the “Strategic Placement”). The Strategic Placement
will consist of the issuance of 5,760,236 common shares of the
Company at a price of C$1.15 per share.
The Public Offering and Strategic Placement are
subject to certain conditions including, but not limited to, the
receipt of all necessary approvals, including the approval of the
TSX Venture Exchange.
The securities have not been, and will not be,
registered under the 1933 Act, as amended, or any U.S. state
securities laws, and may not be offered or sold in the United
States without registration under the 1933 Act and all applicable
state securities laws or compliance with the requirements of an
applicable exemption therefrom. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities in the United States, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
ON BEHALF OF THE BOARD OF
DIRECTORS
George SalamisPresident, CEO and
Director604-416-0576
Forward looking and other cautionary
statements
This news release contains “forward-looking
information” which may include, but is not limited to, statements
with respect to the activities, events or developments that the
Company expects or anticipates will or may occur in the future.
Forward-looking information in this news release includes
statements regarding the use of proceeds from the Offering. Such
forward-looking information is often, but not always, identified by
the use of words and 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.
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 and the Company’s financial
position.
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.
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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