Saturday, July 12, 2025

Latest

Premier Gold To Conduct $84.0 Million Financing Under i-80 Gold Subsidiary

Premier Gold Mines (TSX: PG) this morning announced a private placement in connection with its i-80 Gold Corp spinout. The financing will see gross proceeds of $88.4 million raised in the subsidiary of the company ahead of its proposed spinout.

The financing will see units of i-80 sold at a price of $2.60 per subscription receipt, with subscription receipts to be automatically exchanged for one common share of the company upon completion of the spinout. A total of 34.0 million receipts are expected to be issued, with a 15% over-allotment option also having been granted.

Furthermore, Equinox Gold (TSX: EQX), the firm acquiring Premier Gold, has agreed to subscribe for 30% of the receipts to be issued under the offering, up to a maximum of $28.3 million. Management and its affiliates are to subscribe for a further $5.8 million.

Proceeds from the financing are to be used for working capital and general corporate purposes, including the exploration and development of the firms projects and to fund the cash portion of the purchase price of the Getchell gold property.

The financing is currently slated to close the week of March 15, 2021.

i-80 Gold will effectively spin-out of Premier Gold upon the completion of the acquisition of Premier by Equinox, with i-80 taking all of Premier’s US-based assets. These assets include the South-Arturo and McCoy-Cove properties in Nevada, as well as the previously announced acquisition of the Getchell Project.

Premier Gold last traded at $3.09 on the TSX.


Information for this briefing was found via Sedar and Premier Gold Mines. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

It’s Early Yet; Grading Discovery Hunters Pt. 2: Golden Lake Exploration

Part one of this series about early-stage, discovery-oriented company archetypes focused on Nexus Gold, and...

Thursday, August 13, 2020, 04:01:00 PM

Trillium Gold Announces 8,000 Metre Drill Program For Gold Centre Property

Trillium Gold Mines (TSXV: TGM) is set to begin drilling a new property. The firm...

Wednesday, May 19, 2021, 08:05:19 AM

Eclipse Gold Mining: A Potentially Shareholder Unfriendly M&A Transaction

On December 7, Northern Vertex Mining Corp. (TSXV: NEE) announced it would be acquiring Eclipse...

Wednesday, December 16, 2020, 02:57:00 PM

Freeman Gold Begins Lemhi Metallurgical Test Work

This morning Freeman Gold (CSE: FMAN) announced they have begun metallurgical test work on their...

Tuesday, January 19, 2021, 08:23:23 AM

GoGold Closes $28.8 Million Bought Deal Financing

GoGold Resources (TSX: GGD) this morning announced the closing of its previously announced bought deal...

Friday, May 7, 2021, 08:28:17 AM