Integra is a precious metals exploration and development company. Credit: RHJPhtotos via Shutterstock.com.

Canada-based miner Integra Resources has boosted the size of its bought deal offering, aimed at funding its key mining projects in the US, to C$13m ($9.6m).

In this regard, the company signed an amended deal with Cormark Securities, acting as the lead and sole bookrunner, on behalf of an underwriters’ syndicate.

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Under the agreed terms, Integra will issue 14,445,000 units at C$0.90 each.

Each unit comprises one common share and a half warrant, where each full warrant allows the purchase of an additional common share at C$1.20 within 36 months post-closing.

Additionally, the underwriters will have a 30-day option to buy up to an additional 15% of the units sold, to manage market stabilisation and over-allotments.

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The proceeds are earmarked for exploration and development of the DeLamar Project and the Nevada North Project, as well as for working capital and general corporate needs.

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The expected closing date is on or about 13 March 2024, contingent upon regulatory approvals, including that of the TSX Venture Exchange.

Integra is a precious metals exploration and development company in the Great Basin of the Western US.

It maintains a portfolio of early-stage exploration projects in Idaho, Nevada and Arizona, aiming to establish itself as a leading mid-tier gold and silver producer in the US.

In February last year, Integra and Millennial Precious Metals reached an agreement for an at-market merger.

The merged entity is poised to become one of the largest precious metals development and exploration companies in the Great Basin, with its portfolio comprising Millennial’s Wildcat and Mountain View projects in Nevada, and Integra’s DeLamar Project in Idaho.