Skip to main content

Integra Resources Closes C$6.6 Million Strategic Placement With Coeur Mining

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, British Columbia, Nov. 25, 2019 (GLOBE NEWSWIRE) — Integra Resources Corp. (Integra” or the “Company) (TSX-V:ITR; OTCQX:IRRZF) is pleased to announce that today it has closed its previously announced strategic placement with Coeur Mining, Inc. (“Coeur”) (NYSE:CDE) whereby Coeur has invested C$6.6 million (US$5 million) in Integra by way of a non-brokered private placement of common shares (the “Strategic Placement”).Under the terms of the subscription agreement between Integra and Coeur, Coeur purchased 5,760,236 common shares of Integra (the “Strategic Placement Common Shares”) at a price of C$1.15 per Strategic Placement Common Share for gross proceeds of C$6,624,271. The Strategic Placement Common Shares issued in the Strategic Placement are subject to a four-month and a day hold period expiring March 26, 2020, as prescribed by applicable securities laws and TSX Venture Exchange rules. In connection with the investment, Coeur and Integra have entered into an Investor Rights Agreement which grants Coeur the following:Participation rights to maintain pro-rata share ownership interest for a two-year period; and
 
The right to appoint two members to a newly created five-person Technical Committee, which will be established to review ongoing exploration and pre-development activities on the DeLamar Project and other mineral properties that may be acquired in the future, so long as Coeur continues to hold at least 2.4% of Integra’s share capital.The net proceeds from the Strategic Placement will be used to fund exploration and pre-feasibility level study expenditures at the DeLamar Project and for general corporate purposes.The Strategic Placement is subject to final approval of the TSX Venture Exchange. The Company paid approximately C$198,728 in advisory fees in connection with the Strategic Placement.George Salamis
President, CEO and Director
604-416-0576
Forward looking and other cautionary statementsThis news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Strategic Placement and obtaining final approval of the Strategic Placement from the TSX Venture Exchange. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.