Integra is a precious metals exploration and development company. Credit: RHJPhtotos via Shutterstock.com.

Canada-based miner Integra Resources has boosted the size of its bought deal offering, aimed at funding its key mining projects in the US, to C$13m ($9.6m).

In this regard, the company signed an amended deal with Cormark Securities, acting as the lead and sole bookrunner, on behalf of an underwriters’ syndicate.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Under the agreed terms, Integra will issue 14,445,000 units at C$0.90 each.

Each unit comprises one common share and a half warrant, where each full warrant allows the purchase of an additional common share at C$1.20 within 36 months post-closing.

Additionally, the underwriters will have a 30-day option to buy up to an additional 15% of the units sold, to manage market stabilisation and over-allotments.

The proceeds are earmarked for exploration and development of the DeLamar Project and the Nevada North Project, as well as for working capital and general corporate needs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The expected closing date is on or about 13 March 2024, contingent upon regulatory approvals, including that of the TSX Venture Exchange.

Integra is a precious metals exploration and development company in the Great Basin of the Western US.

It maintains a portfolio of early-stage exploration projects in Idaho, Nevada and Arizona, aiming to establish itself as a leading mid-tier gold and silver producer in the US.

In February last year, Integra and Millennial Precious Metals reached an agreement for an at-market merger.

The merged entity is poised to become one of the largest precious metals development and exploration companies in the Great Basin, with its portfolio comprising Millennial’s Wildcat and Mountain View projects in Nevada, and Integra’s DeLamar Project in Idaho.