I-80 Gold Corp. has successfully completed a private placement of 22,240,000 units, priced at US$0.50 per unit, raising gross proceeds of US$11,120,000. Each unit comprises one common share and one-half of a common share purchase warrant, allowing the purchase of an additional share at US$0.70 until November 2027. This transaction, along with a prior public offering, generated a total of US$184,000,000 in gross proceeds. The funds are earmarked for growth expenditures related to i-80's development plans in Nevada and general corporate purposes. Certain directors and officers participated in the placement, acquiring a total of 1,825,000 units, with Richard Young, Director and Senior Officer, purchasing the largest share. These insider transactions are exempt from specific regulatory requirements due to their size relative to the company's market capitalization.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.