i-80 Announces CAD$32M Private Placement Of 11,852,000 Shares Of Common Stock At A Price Of CAD$2.70/Share
Portfolio Pulse from Benzinga Newsdesk
i-80 GOLD CORP. (NYSE:IAUX) has announced a private placement of 11,852,000 common shares at a price of $2.70 per share, raising gross proceeds of $32.0 million. The company has also granted the underwriters an option to purchase up to an additional 15% of the offering. The net proceeds will be used for the exploration, development, and ramp-up of the Corporation's mineral projects and for general corporate purposes. The offering is expected to close on August 1, 2023.
July 18, 2023 | 8:46 pm
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i-80 GOLD CORP. is raising $32M through a private placement of shares. The funds will be used for exploration and development of mineral projects. This could potentially increase the company's value if the projects are successful.
The private placement will provide i-80 GOLD CORP. with the necessary funds for exploration and development of its mineral projects. If these projects are successful, it could increase the company's value and potentially its stock price. However, it's important to note that these are potential outcomes and there are risks involved in exploration and development.
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