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Title : Integra Resources (ITR.v) and a Coeur placement and a bought deal
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Integra Resources (ITR.v) and a Coeur placement and a bought deal

This is an excellent deal for Integra Resources (ITR.v) and raises my fawning fanboy bromance admiration one notch higher for George Salamis, ITR's dashingly handsome CEO. It's like being a competent club player and watching a chess grandmaster, after a while you get a feel for how many moves ahead of you he thinks.

VANCOUVER, British Columbia, Nov. 14, 2019 (GLOBE NEWSWIRE) -- Integra Resources Corp. (“Integra” or the “Company”) (TSX-V:ITR; OTCQX:IRRZF) is pleased to announce that it intends to raise C$21.6 million via a C$6.6 million non-brokered placement of common shares (the “Strategic Placement”) with Coeur Mining, Inc. (“Coeur”) (NYSE:CDE) at a price of C$1.15 per Strategic Placement Common Share, and a concurrent C$15.0 million bought deal public offering (the “Public Offering”) of common shares (the “Public Offering Common Shares”) of the Company at a price of C$1.15 per Public Offering Common Share (the “Issue Price”).

C$6.6 Million Strategic Placement with Coeur

The Strategic Placement with Coeur will consist of the issuance of C$6.6 million in common shares at a price of C$1.15 per share on a private placement basis. The common shares issued in the Strategic Placement will be subject to a four month hold period from the date of issue. In connection with the investment, Coeur and Integra will enter into an Investor Rights Agreement which will grant to Coeur the following:

• Participation rights to maintain pro rata share ownership interest for a two-year period;

• The right to appoint two members to a newly created five person Technical Committee, which will be established to review ongoing exploration and pre-development activities on the DeLamar Project and other mineral properties that may be acquired in the future, so long as Coeur continues to hold at least 3% of Integra’s share capital.

C$15.0 Million Bought Deal Public Offering

Raymond James Ltd. is acting as lead underwriter and sole bookrunner under the Public Offering on behalf of continues here

Disclosure: I am long ITR, nicely in the green on the trade so far (thanks for asking), not selling anytime soon no matter what happens in 2019.

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