Canadian Mining Journal

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GOLD: Integra gets $14.6M boost from Eldorado Gold

VANCOUVER – Integra Gold Corp. is issuing 52.1 million common shares to Eldorado Gold Corp. in return for Eldorado's $14.6-million investment in Integra. Upon completion of the private placement, Eldorado will hold an undiluted 15% of...


VANCOUVER – Integra Gold Corp. is issuing 52.1 million common shares to Eldorado Gold Corp. in return for Eldorado’s $14.6-million investment in Integra. Upon completion of the private placement, Eldorado will hold an undiluted 15% of interest in Integra.

The price of each share is $0.28, a 5.7% premium to the closing price and 11% premium to the 20-day volume weighted average price of Integra on the TSX-V as of Aug. 17, 2015.

Eldorado will appoint one member to a newly formed, three-member Integra technical committee, and this right will continue as long as Eldorado holds at least a 10% interest in Integra. Should Eldorado increase its interest to 19% or more, it will have the right to appoint a director to Integra’s board. Eldorado has also been granted to the right to participate in any future equity offerings by Integra so that it will maintain its pro rata interest in the company.

Integra says the money will be used to continue exploration and development of the Triangle zone at the former Lamaque gold mine in Val d’Or, QC.

Comprehensive information about the Triangle zone is available at IntegraGold.com


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