Integra Resources closes acquisition of strategic claims at DeLamar project

Integra Resources announced that further to its news release dated February 28, 2024, the company, through its wholly owned subsidiary, DeLamar Mining Company, has completed the acquisition of seventeen patented claims in the Rich Gulch area. The Rich Gulch claims are located adjacent to the Florida Mountain Deposit at the DeLamar project in Owyhee County, State of Idaho. Under the terms of the option agreement dated November 1, 2023 as between DMC and an arm’s length vendor, DMC has the Option to purchase all of the member interests of Rich Gulch, LLC, pursuant to a membership interest purchase agreement, to be entered into as between DMC and the Vendor. Rich Gulch, LLC is the sole owner of the seventeen patented Rich Gulch claims. On February 28, 2024, DMC exercised the Option and on March 8, 2024, the parties entered into the MIPA. Under the terms of the MIPA, DMC acquired all of the Interests in exchange for $2,100,000. The Purchase Price was satisfied through the issuance of 2,959,769 common shares in the capital of the company. The Shares are subject to a statutory hold period of four months and a day expiring on July 9, 2024, and a voluntary lock-up from which 25% will be released 45 and 90 days, respectively, from closing, and 50% to be released on January 3, 2025. As consideration for the grant of the Option pursuant to the Option Agreement, DMC completed a $24,000 cash payment to the Vendor.