i-80 GOLD announces $200 million convertible notes offering

i-80 Gold Corp. (TSX: IAU) (NYSE American: IAUX) announced an offering of $200 million in unsecured convertible senior notes due 2031. The company will grant initial purchasers an option to purchase up to an additional $30 million in notes for 20 days.

The company plans to use proceeds to advance five gold projects through development stages, refurbish the Lone Tree processing plant, fund resource expansion and infill drilling, and support general corporate and working capital purposes.

The notes will bear cash interest payable semi-annually at a fixed rate and will be convertible into i-80 Gold common shares. The company may redeem the notes under certain circumstances, while holders can require repurchase upon specific events. Interest rates, initial conversion rates and other terms will be determined based on market conditions at pricing.

The offering requires approval from the Toronto Stock Exchange and NYSE American, along with other customary closing conditions.

The notes will be offered only to qualified institutional buyers as defined in Rule 144A under the U.S. Securities Act. The securities have not been registered under the Securities Act or state securities laws, and will not be qualified by prospectus in Canada.

i-80 Gold operates as a Nevada-focused mining company with gold projects located in the state's mining trends. The company maintains a central processing facility and executes a hub-and-spoke regional mining strategy.

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