i-80 Gold Announces Pricing of Upsized Offering of US$250 Million Convertible Senior Notes

i-80 Gold Corp. has successfully priced its convertible senior notes offering at US$250 million aggregate principal amount, representing a 25% upsize from the previously announced US$200 million financing. The notes carry a 3.75% annual interest rate payable semi-annually and are due in 2031, with an initial conversion price of approximately US$1.93 per share representing a 37.5% premium to the previous day's closing price.

The financing structure provides i-80 Gold with flexible capital that can convert to equity under favorable conditions while maintaining a relatively low cost of debt at 3.75%. The oversubscription and upsizing of the offering demonstrates strong institutional investor confidence in the company's Nevada-focused gold development strategy. The notes were offered exclusively to qualified institutional buyers, indicating sophisticated investor participation in the financing.

Proceeds from the offering will be strategically deployed across i-80 Gold's Nevada asset portfolio, with specific allocations toward advancing gold projects through development stages, refurbishing the central Lone Tree processing plant, and conducting resource expansion and infill drilling programs. This capital deployment aligns with the company's hub-and-spoke regional mining strategy designed to maximize operational efficiency across its Nevada properties.

The successful completion of this financing significantly strengthens i-80 Gold's balance sheet and provides the financial flexibility needed to execute its development timeline across multiple Nevada gold projects. As the fifth largest gold mineral resource holder in Nevada, the company is well-positioned to benefit from the additional capital to advance its high-grade, multi-stage project pipeline in one of North America's most prolific gold-producing regions. The financing is expected to close on March 23, 2026, subject to exchange approvals and customary closing conditions.