i-80 Gold (US:IAUX) Prnewswire·2026-03-16 13:10Core Viewpoint - i-80 Gold Corp. has successfully closed a $250 million royalty financing with Franco-Nevada, which will significantly strengthen its balance sheet and support its development plans to become a mid-tier gold producer in Nevada [2][3]. Financing Details - The $250 million royalty financing involves Franco-Nevada paying the company for a 1.5% life-of-mine net smelter return royalty, increasing to 3.0% on January 1, 2031 [3]. - At closing, $225 million was advanced, with approximately $165 million used to extinguish legacy debt obligations, and the remaining funds allocated for advancing the Mineral Point project and the Archimedes underground project [3]. Debt Redemption - The company completed the mandatory redemption of its 2027 Convertible Debentures for a total cash payment of $73 million, which includes a principal amount of $65 million and accrued interest of approximately $5.3 million [4]. - About 70% of the debenture holders opted to receive their accrued interest in common shares, resulting in the issuance of approximately 8.1 million shares [4]. Repayment to Orion - i-80 Gold has fully repaid the Gold Prepay Agreement and Convertible Loan Instruments held by Orion, totaling $92 million, which includes a principal amount of $50 million and approximately $20 million of accrued interest [5]. - An additional 3 million common shares were issued to Orion as part of the early redemption [5]. Company Overview - i-80 Gold Corp. is focused on becoming a mid-tier gold producer in Nevada, holding a significant portfolio of high-grade multi-stage projects [7]. - The company is the fifth largest gold mineral resource holder in Nevada and is executing a hub-and-spoke regional mining and processing strategy to maximize efficiency and growth [7].