Beedie Capital to provide $20m facility to mining company Integra

Beedie Capital is a Canadian family office.

  • The deal’s net proceeds will be used to advance the development of the DeLamar Project as well as for working capital and general corporate purposes
  • Also, concurrent to this financing, Integra will run a public offering of up to $10 million with a lead order from Beedie Capital
  • Upon the closing of the offering, Beedie will own a stake in Integra of about 8 percent

Vancouver-based mining company Integra Resources Corp has entered into a $20 million convertible facility with existing shareholder Beedie Capital, a Canadian family office. The financing will be completed in two tranches.

The deal’s net proceeds will be used to advance the development of the DeLamar Project as well as for working capital and general corporate purposes.

Also, concurrent to this financing, Integra will run a public offering of up to $10 million with a lead order from Beedie. Raymond James is expected to be a co-lead underwriter and sole bookrunner. The price and number of shares that will be sold are yet to be determined.

Upon the closing of the offering, Beedie will own a stake in Integra of about 8 percent.

“We are very pleased to welcome Beedie Capital as a significant partner. The Offering and the Convertible Facility will provide visibility to additional capital in the future as needed. Furthermore, the structure of this financing minimizes share dilution and provides flexibility in future financings and provides the capital to advance the DeLamar Project towards a key development milestone, the filing of the Mining Plan of Operations,” noted President and CEO George Salamis, in a statement.