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i-80 Gold Corp., together with its wholly-owned Delaware subsidiary Premier Gold Mines USA, Inc. (PG USA), has completed a purchase agreement with affiliates of Waterton Global Resource Management, Inc. to acquire from Waterton all of the outstanding membership interests of Osgood Mining Company LLC, for consideration consisting of US$50 million in cash and common shares, plus contingent value rights and warrants.
Osgood is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada. The Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999 and underground test mining (the Pinson Mine) was conducted in the early 2010s. The project currently hosts both a high grade open-pit and underground deposits, and the Pinson Mine has been in care and maintenance since 20
i-80 GOLD CORP. (TSX: IAU) ( i-80 , or the Company ) is pleased to announce that, together with its wholly-owned Delaware subsidiary Premier Gold Mines USA, Inc. (
PG USA ), it completed the previously announced purchase agreement with affiliates of
Waterton Global Resource Management, Inc. (
Waterton ) to acquire from Waterton all of the outstanding membership interests of Osgood Mining Company LLC (
Osgood ). Osgood is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada (
Getchell or the
Getchell Project ) for consideration consisting of US$50 million in cash and common shares, plus contingent value rights and warrants as described in more detail below (the Transaction ).