Integra Resources completes $61 million equity offering

Integra Resources Corp. (NYSE American: ITRG) completed a bought deal public offering of 18.1 million common shares at $3.40 per share, raising gross proceeds of $61.6 million. The offering included the full exercise of the over-allotment option by underwriters.

Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. served as co-lead underwriters and joint bookrunners for the syndicate, which also included ATB Capital Markets Corp., Desjardins Securities Inc., and Raymond James Ltd. The company paid underwriters a 5% cash fee on gross proceeds, reduced to 2.5% for purchases on the president's list.

The shares were offered in Canadian provinces except Quebec and in the United States through prospectus supplements filed under existing registration documents. The offering remains subject to final approval from the TSX Venture Exchange.

Integra plans to use net proceeds to fund pre-production capital expenditures at the DeLamar Project, including procurement work, early works, and land purchases. The company cited recent permitting milestones, including receipt of a 15-month NEPA permitting timeline and FAST-41 project designation from U.S. federal regulators.

"This oversubscribed financing positions Integra to capitalize on a clear execution window," said George Salamis, president and CEO. "The Feasibility Study has defined the early works that can advance ahead of a Record of Decision, enabling us to fund procurement, land acquisition, and other low-risk activities."

Integra operates the Florida Canyon Mine in Nevada and is developing the DeLamar Project in Idaho and the Nevada North Project. The company focuses on precious metals production in the Western United States.

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