#United States #Reno #Private Placement #i-80 Gold #recapitalization

i-80 Gold Completes Recapitalization Steps

In a significant move towards improving its financial stability, i-80 Gold Corp. has completed critical amendments to its $65 million convertible debenture indenture, originally dated February 22, 2023. This announcement was made on February 28, 2025, highlighting the company's commitment to bolstering its recapitalization strategy. Following prior disclosures, these amendments are part of a larger initiative aimed at aligning the company's capital structure with its long-term growth plans.

Enhancements to the Convertible Debenture Indenture

The amendments to the indenture were formalized through a first supplemental indenture agreed upon with the TSX Trust Company, the trustee for these debentures. These adjustments include:

• - Revised definitions regarding conversion prices related to accrued interest on the convertible debentures. Notably, they establish how the conversion price will be calculated, considering the average prices on stock exchanges and incorporating a discount.
• - The company's right to secure the McCoy-Cove Project will now be subordinate to the security granted to debenture holders, an important step for risk management and operational flexibility.
• - Additionally, i-80 Gold now holds the right to redeem all outstanding convertible debentures for cash at a premium of 104% before each redemption date.

These changes reflect the strategic direction of i-80 Gold as it seeks to navigate current market challenges while securing its future growth.

Successful Completion of Concurrent Private Placement

In conjunction with the strategic amendments to its debenture structure, i-80 Gold successfully completed a concurrent private placement, raising approximately CAD $798,297. The placement included 997,871 common shares sold at a price of CAD $0.80 each to selected insiders. These insiders, primarily directors and officers, have shown faith in the company’s strategic development, reinforcing internal confidence in the future.

Despite the insider participation constituting a related party transaction under Multilateral Instrument 61-101, it qualifies for exemptions due to the modest scale relative to the company's market capitalization. This structure allows for swift execution of capital raising efforts, essential for ongoing operational needs.

All securities issued through this private placement come with a four-month hold period in Canada, and at least a six-month hold period in the United States, adhering to regulatory requirements.

Forward-Looking Considerations

As i-80 Gold positions itself for future opportunities, the recapitalization plan is set to unlock the value of its high-grade gold deposits, ultimately fostering its growth potential as a mid-tier gold producer in Nevada, a state renowned for its rich mineral resources. The company’s commitment to refining its capital structure suggests a proactive approach to meet both market demands and operational objectives.

Potential investors and stakeholders can find further details regarding i-80 Gold’s assets and strategic vision by visiting their official website at www.i80gold.com or contacting their corporate communications team.

As the landscape of mining continues to evolve, i-80 Gold’s strategic initiatives are indicative of a company poised to make significant strides in the highly competitive gold market. Investors will be watching closely as the company executes its recapitalization plans and explores pathways for growth and increased investor confidence.