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Integra Resources raising C$14M for DeLamar exploration, development

Integra Resources Corp. plans to raise C$14 million for exploring and developing its DeLamar gold-silver project in Idaho and for general corporate purposes.

The company will undertake a C$10 million bought-deal public offering priced at 80 Canadian cents per share and a C$4 million private placement of special warrants at the same price.

The public offering is expected to close around Nov. 6, while the nonbrokered private placement is subject to various conditions. The special warrants will be converted to common shares for no additional consideration, according to an Oct. 15 release.

Raymond James Ltd. is the lead underwriter and sole book runner for the public offering. Integra Resources granted the underwriters a 15% overallotment option, exercisable for 30 days from closing.

The company kicked off a 20,000-meter drill program at DeLamar earlier in the year, the first drilling on the property in 25 years.