Integra Resources completes friendly merger of Millennial Precious Metals

May 10, 2023

Integra Resources Corp. and Millennial Precious Metals Corp. have completed a friendly at-market merger.

Under the terms of the Transaction, Integra acquired all of the issued outstanding common shares of Millennial. Millennial shareholders received 0.23 of a common share of Integra for each Millennial Share held. In aggregate, 42,180,139 Integra Shares were issued to former Millennial shareholders as consideration for their Millennial Shares.

As a result of the transaction, Millennial has become a wholly-owned subsidiary of Integra and the Millennial Shares are anticipated to be delisted from the TSX Venture Exchange.

“By combining Integra with Millennial, we have created one of the largest precious metals exploration and development companies in the Great Basin, with three high-quality heap-leach projects, an exciting portfolio of exploration properties, and a significantly enhanced capital markets profile,” said executive chairman and director of Integra, George Salamis.

President, Chief Executive Officer and Director of Integra, Jason Kosec, said, “The completion of this transaction represents a significant step toward our long-term vision of building an industry-leading, U.S.-focused mid-tier producer. 2023 will be a pivotal year for the company as we work to deliver an updated resource estimate and submit the mine plan of operations at DeLamar, as well as an updated resource estimate and PEA at Wildcat & Mountain View.”

Integra will be led by George Salamis, as executive chairman; Jason Kosec, as president and chief executive officer; Timothy Arnold, as chief operating officer and Andree St-Germain, as chief financial officer. Kosec, Sara Heston and Eric Tremblay have joined Integra's board of directors. The Board also includes Stephen de Jong, George Salamis, Anna Ladd-Kruger, Timo Jauristo, C.L. "Butch" Otter and Carolyn Clark Loder. David Awram has resigned from the Board and will assume the role of advisor to Integra.

The full press release of the merger can be found here.



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