i-80 Gold Corp. (NYSE American: IAUX) closed a gold prepayment facility worth up to $250 million with National Bank of Canada and Macquarie Bank Limited, the company announced.

The facility includes an initial advance of $150 million and a $100 million accordion feature. The company received the initial funding and must deliver 39,978 ounces of gold over 30 months beginning in January 2028.

The accordion feature provides access to additional funding for 24 months from closing, subject to customary conditions and lender approval. i-80 Gold anticipates executing this feature in the first half of 2027.

The facility completes i-80 Gold's recapitalization plan, which raised over $1 billion in capital through multiple financing arrangements. The funding includes approximately $184 million in gross proceeds raised in May 2025, a $250 million royalty financing with Franco-Nevada, and convertible senior notes for $287.5 million issued on March 23.

"We are pleased to announce the closing of the Gold Prepay Facility, marking the final step in achieving our recapitalization goals," said Richard Young, President and CEO.

The financing supports i-80 Gold's three-phase development plan for its Nevada projects. Phase 1 and Phase 2 include advancing three underground projects and one open pit project, plus refurbishing the company's Lone Tree processing plant. The company targets average annual production of 300,000 to 400,000 ounces of gold by 2031, up from less than 50,000 ounces currently.

The information is based on a company press release statement.