i-80 GOLD closes $287.5 million convertible notes offering

i-80 Gold Corp. (TSX: IAU) (NYSE American: IAUX) completed its offering of 3.75% unsecured convertible senior notes due 2031 for an aggregate principal amount of $287.5 million. The offering included an upsized amount of $250 million and the full exercise of a $37.5 million option by initial purchasers.

The notes carry an initial conversion rate of 519.4805 common shares per $1,000 principal amount, equivalent to a conversion price of approximately $1.93 per share. 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 were offered exclusively to qualified institutional buyers under Rule 144A of the U.S. Securities Act of 1933. The securities have not been registered under the Securities Act or qualified by prospectus in Canada.

i-80 Gold operates as a Nevada-focused mining company with gold projects located in the state's mining regions. The company maintains a central processing facility and executes a hub-and-spoke regional mining strategy. The company's shares trade on the Toronto Stock Exchange and NYSE American.

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