Combined with the previously completed financing segments, one of which involved Sprott Asset Management, i-80 now has approximately $165 million in cash and restricted cash. The entire financing package also provides for access to an additional $100 million potentially available via an accordion feature.
“The closing of the final pieces of the financing package has strengthened our balance sheet and positioned the company to advance our comprehensive plan to create a Nevada-focused gold mining company,” said i-80 CFO Ryan Snow in a news release.
At the time of signing the financing agreement, Snow said “the financing package will position i-80 to aggressively pursue the development of the company’s portfolio of advanced-stage deposits, all located in Nevada, one of the world’s most favorable mining jurisdictions.”
i-80 was formed in early 2021 as a spin-out company following Equinox Gold’s (TSX, NYSE: EQX)…
