Integra Resources Corp. (“
Integra” or the
“
Company”) is pleased to announce that it has
applied to list its issued and outstanding common shares (the
"
Common Shares") on the NYSE American, LLC (the
"
NYSE American").
In advance of listing on the NYSE American,
Integra will file a Form 40-F Registration Statement with the
United States Securities and Exchange Commission. Subject to the
approval of the NYSE American and the satisfaction of all
applicable listing and regulatory requirements, the Company expects
its Common Shares to commence trading on the NYSE American by the
end of July.
Integra’s Common Shares would trade on the NYSE
American under the ticker symbol “ITGR”. A trading date will be
announced once all regulatory requirements are satisfied. The
trading on the OTCQX will cease concurrent with the NYSE American
listing.
George Salamis, President and CEO of Integra
Resources, commented, “Given the Company’s focus on the
advanced-stage DeLamar Gold-Silver Project situated in southwestern
Idaho, USA, listing on the NYSE American will further enhance
Integra’s presence in the United States.” Mr. Salamis added,
“Assets like DeLamar are rare, and there is an increased demand for
development stage projects located in North America. The NYSE
American listing will provide enhanced trading access to U.S.-based
funds and retail investors, further enhancing Integra’s stock
market visibility. This co-listing is a natural step in the growth
and evolution of the Company.”
Share Consolidation
In connection with the planned listing on the
NYSE American, the Company will consolidate all of its Common
Shares on the basis of one (1) new post-consolidation Common Share
for every two and a half (2.5) existing pre-consolidation Common
Shares (the "Consolidation").
The Board of Directors of the Company have
approved the Consolidation, which will be effective as of July 9,
2020. The Consolidation reduces the number of outstanding Common
Shares from 119,557,943 to approximately 47,823,177. Proportionate
adjustments will be made to the Company's outstanding stock
options. No fractional Common Shares will be issued pursuant to the
Consolidation and any fractional Common Shares that would have
otherwise been issued will be rounded to the nearest whole Common
Share.
A letter of transmittal with respect to the
Consolidation will be mailed to the Company's registered
shareholders. All registered shareholders will be required to send
their certificate(s) representing pre-Consolidation Common Shares,
along with a properly executed letter of transmittal, to the
Company's registrar and transfer agent, TSX Trust Company, in
accordance with the instructions provided in the letter of
transmittal. Shareholders who hold their Common Shares through a
broker, investment dealer, bank or trust company should contact
that nominee or intermediary for their post-consolidation
positions. A copy of the letter of transmittal is posted on the
Company's issuer profile on SEDAR at www.sedar.com. It is
anticipated that the post-Consolidation Common Shares will commence
trading on the TSX Venture Exchange (the "TSXV") under its new
CUSIP number 45826T301 (ISIN CA45826T3010) on July 9, 2020. The
Company’s ticker symbol "ITR" will remain the same.
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 DIRECTORS
George Salamis President, CEO and Director
CONTACT INFORMATION
Corporate Inquiries: ir@integraresources.com Company website:
www.integraresources.com Office 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 United States 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 with respect to the
timing, receipt of regulatory approval for, and completion of the
Consolidation and listing of the Company’s common shares on NYSE
American; anticipated advancement of the DeLamar Gold-Silver
Project; future operations; future exploration prospects; the
completion and timing of future development studies, including a
pre-feasibility study; future growth potential of DeLamar; and
future development and construction 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. 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.
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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