i-80 Gold Corp. announced the closing of its previously announced concurrent private placement, issuing 22,240,000 units at a price of US$0.50 per unit. This transaction generated gross proceeds of US$11,120,000 for the company.
The units were sold to certain directors, officers, and other current individual shareholders, with insider participation totaling 1,825,000 units. This insider involvement reflects continued confidence in the company's strategic direction and growth potential.
Combined with the recently closed public offering, these financings generated aggregate gross proceeds of US$184,000,000. These funds are intended to be used for growth expenditures supporting i-80 Gold's new development plan in Nevada and for general working capital and corporate purposes, bolstering the company's financial position for its development pipeline.
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