i-80 Gold Corp. has terminated its gold offtake agreement with Vox Royalty, removing its fixed obligation to sell up to 40,000 ounces of refined gold per year from its Granite Creek and Ruby Hill properties through December 2028. The company will issue 3,453,237 common shares to Vox, valued at $4.8 million based on a price of $1.39 per share, to satisfy its obligations. The move is expected to provide greater financial and commercial flexibility and result in cash flow savings through 2028. Completion is expected before June 30.
i-80 Gold Corp.Termination of offtake removes fixed obligation, provides financial flexibility and cash flow savings.
Vox Royalty Corp. Common StockVox loses future royalty revenue from the terminated offtake agreement.