Vancouver, British Columbia--(Newsfile Corp. - March 13, 2024) - Beedie Investments Ltd. ("Beedie") has acquired 2,500,000 units ("Units") of Integra Resources Corp. ("Integra") at a price of $0.90 per Unit. The Units were acquired by Beedie in connection with a public offering (the "Offering") of Units announced by Integra on March 5, 2024. Each Unit consists of one common share in the capital of Integra (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share of Integra at a price of Cdn$1.20 for a period of 36 months following the closing date of the Offering.
Immediately prior to the Offering, Beedie held or exercised control or direction over: (i) 3,777,681 Common Shares, representing approximately 5.3% of the issued and outstanding Common Shares (on a non-diluted basis); and (ii) assuming conversion in full of the aggregate principal amount outstanding under the convertible loan facility made available by Beedie to Integra (the "Loan Facility") of US$10 million using the applicable conversion price under the Loan Facility, Beedie, directly or indirectly, would own or control a total of 9,543,607 Common Shares, representing approximately 12.3% of the issued and outstanding Common Shares on a partially diluted basis.
Immediately following the Offering and assuming: (i) conversion in full of the aggregate principal amount outstanding under the Loan Facility of US$10 million using the applicable conversion price under the Loan Facility, and (ii) exercise in full of the 1,250,000 Warrants, Beedie, directly or indirectly, would own or control a total of 13,293,862 Common Shares, representing approximately 13.9% of the issued and outstanding Common Shares on a partially diluted basis.
All of the securities held by Beedie in Integra, including the Common Shares, are being held for investment purposes. Beedie may in the future take such actions in respect of its Company securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Integra through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving Integra, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie may continue to hold its current positions.
A copy of the early warning report relating to the Credit Agreement will be available under Integra's profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Beedie Investments Limited at 604-435-3321. Beedie's head office is located at Suite 900 - 1111 West Georgia St. Vancouver, BC V6E 4M3.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201644
SOURCE: Beedie Investments Ltd.
