i-80 Gold Announces Expiry of At-The-Market Equity Program; Upcoming Filing of Preliminary Economic Assessments for Five Gold Projects by End of March
i-80 Gold Announces Expiry of At-The-Market
Equity Program; Upcoming Filing of
Preliminary Economic Assessments for Five
Gold Projects by End of March
This news release constitutes a "designated news release" for the purposes of the Company's
prospectus supplement dated
August 12, 2024
, to its short form base shelf prospectus dated
June
21, 2024
.
RENO, Nev.
,
March 12, 2025
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80 Gold",
or the "Company")
announces that its previously established at-the-market equity program (the
"ATM Program") will expire with the filing of its financial statements for the year ended
December
31, 2024
on
March 27, 2025
. The Company has been in a trading blackout since
February 14, 2025
following the announcement of the results of the Preliminary Economic Assessment ("PEA") for the
Cove Project and has elected to remain in a blackout period until the end of the first quarter.
The ATM Program, originally implemented on
August 11, 2024
to provide the Company with financial
flexibility to support its growth strategy, has satisfied its intended purpose.
i-80 Gold remains engaged in constructive discussions with both current and potential debt providers
to advance its previously announced recapitalization plan and looks forward to providing a market
update in the near future. While the ATM Program was one of several options available to i-80 Gold
for raising funds over the short term, the Company has elected to remain in a blackout period and
not reactivate it. The Company's potential financing plans will seek to ensure an efficient capital
structure reinforcing its commitment to maximizing shareholder value.
Since its inception, a total of 26.7 million shares were issued under the ATM Program for total gross
proceeds of
$25.1 million
.
Preliminary Economic Assessments to be Filed by End of Month
i-80 Gold recently announced economic and operating highlights from PEAs for all five of its gold
projects: Cove Underground Project, Archimedes Underground Project, Mineral Point Open Pit
Project, Granite Creek Underground Project, and Granite Creek Open Pit Project. These updated
PEAs demonstrate the significant value of the Company's gold portfolio. The full PEAs for all five
projects are expected to be filed by the end of
March 2025
, under the Company's issuer profile on
SEDAR+ at
www.sedarplus.ca
. Additionally, an S-K 1300 Report has been prepared for each
project in accordance with S-K 1300 and Item 601 of Regulation S-K and will be filed on EDGAR at
www.sec.gov
. All reports will also be available on the Company's website at
www.i80gold.com
.
About i-80 Gold Corp.
i-80 Gold Corp. is a
Nevada
-focused mining company committed to building a mid-tier gold producer
through a new development plan to advance its high-quality asset portfolio. The Company is the
fourth largest gold mineral resource holder in the state with a pipeline of high-grade development
and production-stage projects strategically located in
Nevada's
most prolific gold-producing trends.
Leveraging its fully permitted central processing facility following an anticipated refurbishment, i-80
Gold is executing a hub-and-spoke regional mining and processing strategy to maximize efficiency
and growth. i-80 Gold's shares are listed on the Toronto Stock Exchange (TSX: IAU) and the NYSE
American (NYSE: IAUX). For more information, visit
www.i80gold.com
.
Forward-Looking Information
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, statements
regarding the updated results of the PEAs, such as the significant value demonstrated, the use of
proceeds in connection with the ATM Program, and the Company's recapitalization and potential
financing plans, such as seeking to ensure an efficient capital structure. Furthermore, forward-
looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the date of such statements, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. 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 and are expressly
qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the
Company does not assume any obligation to update or revise the forward-looking statements
contained herein to reflect events or circumstances occurring after 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. For a more detailed discussion of
such risks and other factors that could cause actual results to differ materially from those expressed
or implied by such forward-looking statements, refer to i-80's filings with Canadian securities
regulators, including the most recent Annual Information Form, available on SEDAR+ at
www.sedarplus.ca
.
SOURCE
i-80 Gold Corp
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For further information:
For further information, please contact: Leily Omoumi, VP Corporate
Development & Strategy, 1.866.525.6450, [email protected], www.i80gold.com
CO: i-80 Gold Corp
CNW 06:00e 12-MAR-25