#Canada #Toronto #Convertible Notes #mining #i-80 Gold

i-80 Gold Corp. Upsized Offering Announcement

In a recent financial development, i-80 Gold Corp. (traded on TSX as IAU and on NYSE American as IAUX) has announced a new offering of convertible senior notes, increasing the amount to $250 million. This initiative demonstrates the company's proactive approach to enhance its capital structure and advance its mining projects.

Details of the Offering

Originally set at $200 million, the offering now totals $250 million, and if the underwriters fully exercise their option to purchase additional notes, this figure could rise to $287.5 million. These unsecured notes will mature in 2031 and are designed to raise funds at a competitive interest rate of 3.75%, paid semi-annually. The initial conversion rate is set at 519.4805 shares per $1,000 principal, equating to a conversion price of approximately $1.93 per share, which reflects a premium of about 37.5% over the previous day’s closing share price.

Purpose of the Funds

The net proceeds from this offering will be pivotal for i-80 Gold Corp. to further its gold projects. The company plans to allocate these funds toward various purposes, including:

• - Advancement of gold projects through different developmental phases.
• - Refurbishing the Lone Tree processing plant, enhancing its operational capacity.
• - Funding resource expansion and infill drilling.
• - Supporting general corporate needs and working capital.

Market and Regulatory Compliance

The offering is expected to close on or about March 23, 2026, contingent upon customary closing conditions, which include the necessary approvals from the Toronto Stock Exchange and NYSE American. However, potential investors should note that the notes and any shares resulting from their conversion are not and will not be registered under the U.S. Securities Act of 1933, nor will they be qualified in Canada for sale.

These notes have been offered exclusively to qualified institutional buyers in compliance with Rule 144A. Importantly, offers and sales in Canada are subject to specific exemptions from the country’s securities regulations.

About i-80 Gold Corp.

i-80 Gold Corp. is recognized for its focus on the Nevada mining sector, where it holds the position of being the fifth largest gold mineral resource holder. The company is committed to evolving into a mid-tier gold producer, leveraging its high-quality portfolio of mining assets strategically located within Nevada's premier gold-producing areas. A significant advantage for i-80 Gold is its central processing facility, which is undergoing refurbishment to elevate its efficiency, thereby enabling a regional mining and processing model called hub-and-spoke for enhanced productivity and growth.

To conclude, i-80 Gold Corp.'s initiative to enhance its financial resources through this upsized offering of convertible senior notes signifies its commitment to growth and operational excellence within the gold mining industry. Investors and stakeholders are encouraged to monitor the development of this offering and its implications on the company's growth trajectory in the coming years.

Forward-Looking Statements

This announcement contains forward-looking statements pertaining to the future performance and development of the company, associated risks, and economic conditions. Actual results may differ materially from those projected, thus potential stakeholders are advised to consider these statements cautiously. For a more thorough understanding of the risks involved, refer to the company's filings on EDGAR and SEDAR+.

For more details on i-80 Gold Corp. and its ongoing projects, please visit SEDAR+ or EDGAR.