i-80 Gold Corp. announced the completion of certain amendments to its $65 million convertible debenture indenture, as previously disclosed on January 13, 2025. These amendments are a crucial step in supporting the company's recapitalization plan by improving its near-term liquidity and facilitating refinancing flexibility.
The amendments to the indenture include revised conversion prices for accrued and unpaid interest on the Convertible Debentures, providing a 15% discount to the volume weighted average price on the TSX. Additionally, the company's right to grant security against the McCoy-Cove Project will now rank subordinate to the debenture holders' security, and a new redemption right allows the company to redeem debentures for cash at a 104% premium.
The company also announced the closing of its concurrent private placement, issuing 997,871 common shares to certain directors and officers at C$0.80 per share, generating gross proceeds of approximately C$798,297. The NYSE American provided a waiver from requiring shareholder approval for this insider participation, reflecting continued confidence in the company's strategic direction and growth potential.
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