i-80 Gold is undertaking a private placement of 22.24 million units to generate an additional $11.12m. Credit: Maksim Safaniuk/Shutterstock.

US-based mining company i-80 Gold will raise a total of $184m through a bought deal public offering and a concurrent private placement.

The proceeds are earmarked for the company’s growth initiatives, particularly advancing a new development plan in Nevada, as well as for general corporate purposes.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The previously announced public offering saw the issuance of 345.76 million units at $0.50 each, resulting in gross proceeds of $172.88m, including the full exercise of the over-allotment option.

Each unit consists of one common share and half of one common share purchase warrant, with each full warrant allowing the purchase of an additional common share at $0.70 until 16 November 2027.

In addition to the public offering, i-80 Gold is undertaking a private placement of 22.24 million units to generate an additional $11.12m.

This private placement mirrors the terms of the public offering and involves certain directors, officers and individual shareholders.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Subject to regulatory approvals, the private placement is expected to close around 20 May 2025 and will adhere to a six-month US and a four-month plus one-day Canadian hold period.

The offering was spearheaded by National Bank Financial and Cormark Securities as co-bookrunners, alongside Canaccord Genuity and SCP Resource Finance as co-lead underwriters.

Other financial institutions including BMO Nesbitt Burns, RBC Dominion Securities, Scotia Capital, Stifel Nicolaus Canada and Ventum Financial also played key roles.

The public offering was facilitated by a shelf registration statement filed with the Securities and Exchange Commission on 14 April 2025, which became effective on 7 May 2025.

The Canadian prospectus supplement was filed in all provinces and territories excluding Québec, based on the final base shelf prospectus dated 21 June 2024.

Last year, in May, i-80 Gold closed its bought deal public offering, raising around C$115m ($83.8m).

Mining Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Mining Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now