Equinox Gold Corp., the Company's largest shareholder, is expected to participate in the private placement financing through the exercise of its anti-dilution rights. At the closing of the asset exchange, NGM will reimburse i-80 an amount of approximately $7.3 million for certain expenditures previously advanced in relation to the South Arturo Property 2. The Company has entered into a non-binding term sheet with Orion for up to $140 million of acquisition financing, with an additional $100 million potentially available via an accordion feature, at the election of i-80. Concurrent with the closing of the asset exchange, NGM will subscribe for new i-80 treasury common shares representing up to a 9.9% interest in i-80 through a private placement for proceeds not to exceed $50 million. The Company is pursuing financing arrangements that complement the Company's strong cash position ( $70.1 million as at June 30, 2021) including:. NGM will provide i-80 with interim processing capacity at its autoclave facilities until the earlier of the three-year anniversary of the asset exchange closing and such time that the Lone Tree facility is operational and also at its roaster facilities for a period of 10-years, subject in each case to extension by mutual agreement. i-80 will produce gold from the Ruby Hill open pit and residual leaching at Lone Tree. The Lone Tree facility includes an autoclave, carbon–in-leach (CIL) mill, Floatation Plant, and heap leach facility Secures for i-80, the ability to process all types of gold bearing mineralization at the centrally located Lone Tree processing facility situated on Interstate 80 once the necessary refurbishment of the facility is completed. 
Ruby Hill deposits host more than 100 million ounces of indicated silver mineral resources and more than 70 million ounces of inferred silver mineral resources 1. i-80 increases overall Inferred gold Mineral Resource more than three and a half times and more than doubles i-80's overall gold Measured + Indicated Mineral Resources 1. Highlights of the transactions are as follows: Equinox Gold Corp ("Equinox") has also indicated that it will participate in the equity private placement through the exercise of a portion of its anti-dilute rights. 
Additionally, i-80 has entered into a private placement commitment with NGM whereby, conditional on the asset exchange transaction being completed, NGM will acquire from i-80 up to 9.9% interest in new i-80 treasury common shares for aggregate proceeds not to exceed $50 million, and a non-binding term sheet with Orion Mine Finance ("Orion") for up to $240 million in acquisition and development financing. The Company has also entered into an acquisition agreement to acquire the Ruby Hill Mine from affiliates of Waterton Global Resource Management ("Waterton"). (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is very pleased to announce that it has entered into definitive agreements to create a comprehensive Nevada mining complex through an asset exchange agreement to acquire certain processing infrastructure, including an autoclave, and the Lone Tree and Buffalo Mountain gold deposits from Nevada Gold Mines LLC ("NGM") via an asset exchange in consideration for: (i) the Company's 40% ownership in the South Arturo Property which will consolidate 100% ownership of South Arturo in NGM, providing NGM with flexibility to pursue potential operational synergies with NGM's other Nevada properties (ii) assignment of i-80's option to acquire the adjacent Rodeo Creek exploration property (iii) contingent consideration of up to $50 million based on production from the Lone Tree property and (iv) arrangement of substitute bonding (and release of NGM bonds) in respect of the Lone Tree and Buffalo Mountain reclamation obligations at closing. Planned financing packages will complement Company's strong balance sheetĪll currencies expressed as United States dollars unless otherwise stated
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