Finance

Integra Resources Corp. Secures a Major Financial Boost with $10 Million Offering

VANCOUVER, BC (March 5, 2024) – Integra Resources Corp. ("Integra" or the "Company"), listed on both TSX Venture Exchange (TSXV: ITR) and NYSE American (ITRG), has today announced a remarkable financial milestone. The Company made public its entry into an agreement with a consortium of underwriters (the "Underwriters"), per which the Underwriters are set to acquire a significant number of the Company’s units on a 'bought deal' basis, in a transaction that propels Integra's financial capabilities further.

The agreement outlines that the Underwriters will purchase 11,112,000 units (the "Units") of Integra, priced confidently at C$0.90 per Unit, resulting in a noteworthy gross proceeds estimated around C$10 million (the "Offering"). This substantial amount is aimed at bolstering the Company's exploration and development endeavors.

Details of the Deal Explained

Diving into the specifics, each individual Unit comprises of one common share of Integra (a "Common Share"), coupled with half of a Common Share purchase warrant (each whole share referred to here as a "Warrant"). Holders of these Warrants are granted the right to acquire an additional Common Share at a set exercise price of C$1.20, over an exercise period spanning 36 months from the Offering’s closing date.

An over-allotment option is included in the deal as well, with the Underwriters having the opportunity to purchase an additional 15% of the Units at the Offering Price. This option, primarily for market stabilization purposes and to cover potential over-allotments, remains valid for 30 days post the closing date of the Offering.

Allocation of Proceeds

Integra has clearly earmarked the net proceeds from the transaction, setting its sights on funding exploration and development activities across its portfolio of projects, including the prominent DeLamar Project and the Nevada North Project. Moreover, the Company anticipates allocating a portion of the capital towards general working capital needs and various corporate objectives.

Regulatory Considerations and Closing Date

This financial propagation comes aligned with a key regulatory component. The Offering's success is contingent upon the procurement of appropriate regulatory endorsements, including that from the TSX Venture Exchange. March 13, 2024, is anticipated as the tentative closing date, provided all goes according to plan with required approvals and compliances.

In a move to elevate the transaction's accessibility to investors, the Company aspires to enlist the Warrants on the TSX Venture Exchange, utilizing all efforts within their capacity to ensure this listing post-closure.

Investing in the Canadian Landscape

For interested participants from the Canadian territory wishing to commit to the Offering, the Company has structured it in correlation with legislatory requisites. The offering is to be qualified by a prospectus supplement (the "Prospectus Supplement") attached to the Company’s pre-established base shelf prospectus (the "Base Shelf Prospectus"). This collaboration of documents will extend across every province and territory of Canada, the sole exception being the province of Quebec, and will be readily available on SEDAR+(www.sedarplus.ca).

Provisions for United States Investors

The release further clarifies that the Offering is not positioned to serve as an enticement for securities purchase or sale in the United States. Any securities tied to this Offering have not been registered under the United States Securities Act of 1933, amended (the "U.S. Securities Act"), nor under any state securities laws. Consequently, these securities may not be presented for sale within the United States, nor to any U.S. Persons, within the constraints defined by Regulation S under the U.S. Securities Act, unless they come under registered provisions or an applicable exemption from the registration stipulations.

A Forward-Looking Vision from Integra

Jason Kosec, President, CEO and Director of Integra Resources Corp., standing at the helm of the Company's operations, has voiced his confidence in this strategic move. He remarked that forward-looking statements were integral to the news release, echoing positive projections concerning the closure of the Offering and subsequent allocation of its proceeds, alongside the listing of the Warrants on the TSX Venture Exchange.

These statements, born out of forward-looking information, reflect substantial plans concerning Integra’s business and future outcomes, pegged to expectations as of the date of the news release. However, caution is exercised through acknowledgment of the potential disparities between expectations and reality, driven by known and unknown risks, uncertainties, and other dynamic factors that could shape the actual events or results in deviation from projected scenarios.

Addressing the Risks and Future Projections

These factors include the array of risks associated with attaining regulatory approval for the Offering, the potential for legislative and regulatory shifts, and the tangible outcomes of exploration and development exercises, whose efficiency remains at the mercy of fluctuating prices across commodities such as silver, gold, lead, and zinc. Additionally, the predictions also hinge on the persistence of market fundamentals in fueling silver, gold, lead, and zinc demand and prices.

Performance and operational risks also loom, entwined with concerns about equipment failures, unanticipated accidents, labor disputes, and broader risks typical within the mining industry. Cultural aspects, such as Native American rights and claims, the continuous demands of capitalization, the Company's commercial sustainability, global economic shifts, industrial competition, and inevitable delays in procuring governmental nods or acquiring financing, constitute a non-exhaustive list of catalysts that could steer results astray from anticipations.

Integra's Commitment Despite the Uncertainties

Remaining steadfast in the light of these variables, Integra continues to stand by its committed approach. The forward-looking statements are sustained by a set of principal assumptions believed by the management to be prudent at the moment. These include, but are not limited to, convictions that all the necessary regulatory endorsements for the Offering shall be secured and that all conditions precedent will be duly met within a systematic timeframe.

Furthermore, it is presupposed that Integra will be able to accrue additional funding as required, that its forecasted exploration and development plans will proceed as construed, and that market fundamentals will engender a sustained demand for precious metals alongside supportive pricing structures.

With these premises laid out, no assurance is claimed that the forward-looking statements will perfectly mirror future outcomes. The foreseeable events and potential developments are susceptible to variances marking a departure from those indicated within such statements. Integra openly acknowledges its lack of obligation to renew or reform these forward-looking statements, barring new information, future occurrences or as otherwise mandated by applicable securities legislation.

The TSX Venture Exchange and Regulatory Disclaimer

Interpreting the legal framework, neither the TSX Venture Exchange nor its Regulation Services Provider acknowledges responsibility for the adequacy or the precision of the content contained within this news release. This statement underscores the importance of investor due diligence, reaffirming that the views and information set forth here are furnished without warranties of completion or accuracy from the TSX Venture Exchange perspective.

Connect with Integra Resources Corp.

Integra Resources Corp., a mining industry name associated with growth and strategic financial management, invites parties interested in further company information to reach out through their official website at [www.integraresources.com](https://c212.net/c/link/?t=0&l=en& o=4108400-1&h=1798888172&u=http%3A%2F%2Fwww.integraresources.com&a=www.integraresources.com). Integra Resources Corp. is headquartered in Vancouver, British Columbia, and is driving forward with key projects at the forefront of precious metal exploration and development.

In Conclusion

This significant financial engagement marked by Integra Resources Corp. represents not only a pivotal advancement in the company's capitalization strategy but also a testament to the confidence that the investment community places in its projects and management. As Integra Resources Corp. plows ahead in the wake of this Offering announcement, investors and spectators in the mining realm keenly anticipate the unfolding of the projects' potential that these funds aim to harness.ulators accept responsibility for the adequacy or accuracy of this news release.