07:13 AM EST, 01/16/2025 (MT Newswires) -- i-80 Gold ( IAUX ) overnight Wednesday said it has amended its convertible credit agreement with Orion Mine Finance, satisfying all the conditions. The company also intends to raise US$10 million.

The maturity date of the credit agreement has been extended by six months to June 30, 2026 as long as additional security against i-80's Ruby Hill and Granite Creek projects are put in place by March 31. i-80 has also issued 5 million 4-year warrants to Orion, with an exercise price of $1.01.

Additionally, the company intends to complete a prospectus financing to raise US$10 million. The offering will close by Jan. 31. Proceeds will be used to develop i-80's Nevada projects as the company works to complete the second phase of its recapitalization plan by March 31.