i-80 Gold terminated its gold offtake agreement, eliminating its obligation to deliver up to 40,000 ounces of refined gold annually through December 2028 and freeing it to optimize sales based on market prices. The company will issue 3,453,237 common shares valued at US$4.8 million to settle obligations, boosting financial flexibility.
i-80 Gold has entered into a Settlement Agreement that terminates its existing gold offtake agreement, removing the fixed obligation to sell and deliver up to 40,000 ounces of refined gold per year from its Granite Creek and Ruby Hill properties through December 31, 2028.
The termination is expected to generate cash flow savings based on the average offtake margin per ounce sold in 2026 to date, enabling the company to manage future gold sales strategically, consider stockpiling, and capitalize on favorable gold prices ahead of Lone Tree Plant commissioning.
To satisfy its remaining obligations under the terminated agreement, i-80 Gold will issue 3,453,237 common shares to Vox Cayman’s nominee, representing aggregate consideration of US$4.8 million at US$1.39 per share under its existing U.S. shelf registration.
