ENP Newswire -
Release date- 27062014 -
'The capital raised in this offering will provide Integra with a great deal of flexibility as we advance the
The Company issued 30,156,758 Units (the 'Units') for gross proceeds of
Each Unit consists of one common share of the Company ('Common Share') and one common share purchase warrant ('Warrant'). Each Warrant entitles the holder thereof to purchase one Common Share at a price of
The Company intends to use the net proceeds of the Offering for continued exploration of the
Total finder's fees of
All Common Shares issued and issuable hereunder (including those issuable upon the exercise of Warrants and the Compensation Warrants), the Warrants and the Compensation Warrants are subject to a hold period expiring
Certain directors and officers of the Company have acquired securities under the private placement. Such participation is considered to be a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101'). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization.
In addition to the Offering outlined above, the Company has entered into a share purchase agreement (the 'Agreement'), dated
This transaction is scheduled to close on or about
The Company also announces it has granted 300,000 stock options in accordance with its stock option plan to employees and consultants of the Company. The options are priced at
Project and Company Profile
Integra's Lamaque gold project is located in the heart of the
The Company's primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of mineralization, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine Zones and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South Zones.
Cautionary Note Regarding Forward Looking Statements
Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements.
In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and the Company's planned and ongoing exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations.
Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements.
Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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