03:35 PM EDT, 08/21/2024 (MT Newswires) -- Integra Resources ( ITRG ) said Wednesday it completed a CA$20 million ($14.7 million) bought deal private placement offering of 14.9 million subscription receipts at CA$1.35 a piece.

The offering was conducted in connection with Integra's intention to acquire Florida Canyon Gold, according to the company.

Each subscription receipt comprises a right to own an Integra share conditional on satisfaction or waiver of certain release conditions.

Integra said it placed the gross proceeds in escrow with TSX Trust and if all prerequisites are met before Dec. 15 escrowed funds along with accrued interest will be released to the company.

Otherwise, the funds will be returned to receipt holders, and the receipts will be canceled.