Integra Gold Corp.
TSX VENTURE : ICG

Integra Gold Corp.

December 18, 2013 11:13 ET

Integra Gold Closes $4,082,300 First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 18, 2013) -

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Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") (TSX VENTURE:ICG) is pleased to announce that, subject to regulatory approval, it has closed the first tranche of its previously announced $4,500,000 non-brokered private placement financing (the "Offering").

In the first tranche the Company issued 14,031,539 Quebec flow through shares (the "Quebec FT Shares"), 1,225,000 National flow through shares (the "National FT Shares") and 1,112,350 non-flow through units (the "NFT Units") for a total of 16,368,889 shares or units and gross proceeds of $4,082,300. All shares are subject to a statutory four month hold period which expires on April 19, 2014.

"We are encouraged by the high level of demand and positive response received when raising capital for further development of the Lamaque project," commented Company President and CEO, Stephen de Jong. "2014 will be an extremely busy year for Integra as we continue to deliver on the milestones that have been established for the Company and its stakeholders. We are fortunate to have a resilient team that has been able to advance the Lamaque Project in spite of these difficult market conditions."

The Offering consists of FT Shares and NFT Units on a best efforts basis at a price of $0.20 per National FT Share, $0.26 per Quebec FT Share and $0.17 per NFT Unit. Each Quebec or National FT Share consists of one flow through common share and no warrant. Each NFT Unit consists of one common share and one-half of one non-transferable common share purchase warrant "NFT Warrant". Each whole NFT Warrant will entitle the holder to purchase one common share at an exercise price of $0.26 for 18 months following completion of the Offering. Should the Company's Shares trade on the TSX Venture Exchange at a weighted average price of greater than $0.45 for any ten consecutive trading day period the Company may, on written notice to the holders of the Warrants, reduce the exercise period of the Warrants to a date that is not less than 30 days from the date of the notice.

The Offering is scheduled to close on or about January 30, 2014 and is subject to certain conditions, including approval of the TSX Venture Exchange.

The proceeds from the issuance of the FT Shares will qualify as Canadian and/or Quebec exploration expenses which will be renounced to investors no later than December 31, 2013. The Company intends to use the net proceeds of the Offering primarily for expenditures on the Company's Lamaque property and for general working capital.

Finder's fees in the amount of $261,603.97 and 1,116,526 compensation warrants are payable in respect of these funds.

Project and Company Profile

Integra's Lamaque Gold Project is located in the heart of the Val-d'Or gold camp in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.

The Company's primary objective is to continue to prove up additional resources on the project while advancing the existing resource toward development. The project is split into two main clusters, the North Cluster composed of the Parallel, Fortune, No. 3 Mine and No. 5 Plug, and the South Cluster, consisting of the Triangle, South Triangle and No. 4 Plug, located approximately one km from each other.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, CEO & President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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