06:49 AM EST, 03/03/2025 (MT Newswires) -- i-80 Gold ( IAUX ) late on Friday said it has completed steps in support of its recapitalization plan to align its capital structure and long-term growth strategy.

The company completed amendments to its $65 million convertible debenture indenture and closed a private placement undertaken concurrently. In the private placement, which closed on Jan. 31, the company sold 997,871 common shares to directors and officers of the company at $0.80 per share for gross proceeds of about $798,297. Net proceeds of will be used for working capital and general corporate purposes.

The developments support the company's recapitalization plan by improving its near-term liquidity and facilitating its refinancing flexibility, i-80 Gold ( IAUX ) said.