SOURCE: Integra Gold Corp.

Integra Gold Corp

December 11, 2014 15:51 ET

Integra Gold Corp. Announces Bought Deal Offering Upsized to $7 Million

VANCOUVER, BC--(Marketwired - December 11, 2014) -

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Integra Gold Corp. (TSX VENTURE: ICG)(OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce that it has entered into an amended agreement with Paradigm Capital Inc. and Cormark Securities Inc., on behalf of a syndicate of underwriters (together, the "Underwriters"), whereby the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 21,739,200 flow-through common shares of the Company (the "Flow-Through Shares") at a price of C$0.23 per Flow-Through Share and 7,407,400 Québec super flow-through common shares of the Company (the "Super Flow-Through Shares") at a price of C$0.27 per Super Flow-Through Share for total gross proceeds of C$7,000,014 (the "Offering"), subject to a right to substitute purchasers. The Underwriters have been granted the option to purchase up to an additional 15% of the number of Flow-Through Shares issuable in the Offering, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering. The Underwriters will seek to arrange for substituted purchasers for the Flow-Through Shares and Super Flow-Through Shares in one or more provinces of Canada.

The closing of the Offering is expected to occur on or about December 30, 2014 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.

The Company intends to use the gross proceeds of the Offering for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)) related to the Company's Québec mineral concessions. The Company will agree to renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2014.

Project and Company Profile

Integra's Lamaque South Gold Project and Sigma-Lamaque Milling Complex and Mine are located directly east from the city of Val d'Or along the prolific Abitibi Greenstone belt 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 focus is on production planning for its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. The primary targets are the high-grade Parallel Zone in the North Cluster and the Triangle Zone in the South cluster. The acquired Sigma Mill, located 1 kilometer from the Parallel Zone and 3 kilometers from the Triangle Zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. The Sigma-Lamaque Mill and Mining Complex include the historic Sigma and Lamaque Mines which operated for 60 and 50 years respectively and produced more than 9 million ounces of gold in total.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong
CEO & President

Follow Integra Gold on Twitter: http://twitter.com/integragoldcorp

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 disclosures in this release constitute forward-looking statements including the timing and completion of the private placement. 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. 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, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. 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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