VANCOUVER, BRITISH COLUMBIA--(April 22, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Integra Gold Corp. ($ICG:CA) ($ICGQF) ("Integra Gold" or the "Company") is pleased to announce that it has closed the first tranche of its previously announced bought deal private placement, including partial exercise of the over-allotment option (the "Offering), for gross proceeds of C$11,676,848.
Pursuant to the amended agreement announced April 20, 2015, the syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and Paradigm Capital Inc. and including Beacon Securities Limited, Cormark Securities Inc., GMP Securities L.P. and Haywood Securities Inc. (together, the "Underwriters") purchased for their own account or arranged for substituted purchasers to purchase on a bought-deal private placement basis 17,998,848 flow-through common shares (the "Flow-Through Shares") and 20,490,100 common shares (the "Common Shares") from Integra Gold for aggregate gross proceeds to Integra Gold of C$11,676,848.
The second tranche of 4,200,000 Flow-Through Shares is expected to close on April 27, 2015 for total aggregate gross proceeds to Integra Gold of C$13,062,848.
The proceeds raised from the sale of the Flow-Through Shares will be used by the Company to finance qualified Canadian exploration expenditures at the Company's Lamaque Gold Project. The net proceeds raised from the sale of the Common Shares will be used for surface and underground exploration at the Company's Lamaque Gold Project and for general corporate purposes.
In consideration for their services, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds of the Offering, including any offered securities sold pursuant to the Underwriters' Option. As additional consideration, Integra Gold has agreed to pay to the Underwriters a number of broker warrants (the "Broker Warrants") equal to 5.0% of the Common Shares and Flow-Through Shares issued under the Offering. Each Broker Warrant is exercisable into one Common Share until April 22, 2016 at a price of $0.28.
The securities to be issued under the Offering, including the common shares issued on exercise of the Broker Warrants, will have a hold period of four months and one day from closing expiring on August 23, 2015.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, CEO & President
Visit the company website: www.integragold.com
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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 news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements including the timing and completion of the private placement. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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