Integra Resources and Millennial Precious Metals have entered into a definitive agreement for an at-market merger, which would see the companies combine to create one of the largest precious metals mining companies in the Great Basin.
With these projects, the combined company would boast one of the largest gold-silver endowments in the Great Basin not controlled by a major mining company. In addition to the development pipeline, meaningful exploration potential exists in the BlackSheep, War Eagle and non-oxide targets at DeLamar, and the Dune, Eden, Marr, Ocelot, Cerro Colorado and Red Canyon projects from Millennial.
‘The merger with Millennial is an exciting combination that provides balanced benefits to both sets of shareholders and streamlines the permitting and development of three high-quality, oxide, heap leach projects,” George Salamis, president and CEO of Integra, stated in a news release. Concurrent to the merger agreement, the companies have also announced equity financings for aggregate gross proceeds of C$35 million and welcomed a new cornerstone investor in Wheaton Precious Metals , which has agreed to invest an amount equal to up to 9.9% of the issued and outstanding Integra shares. .The equity financing also includes participation by Beedie Investments, an existing lender and shareholder of Integra.
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