BOISE,
Idaho, Nov. 18, 2024 /PRNewswire/ - Perpetua
Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
the "Company") today announced the pricing of its previously
announced public offering of 3,439,465 shares of its common stock
(the "Common Shares") in the United
States ( the "Offering") at a price to the public of
US$10.17.
The gross proceeds to Perpetua Resources from the Offering,
before deducting commissions and expenses and other Offering
expenses, will be approximately $35
million, or approximately $40
million if the Underwriters exercise the Option (as defined
below) in full.
The Company expects to use the net proceeds of the Offering for
down payments on long lead time materials, detailed engineering for
its Stibnite Gold Project, and general corporate purposes.
The Common Shares will be offered by the Company with BMO
Capital Markets and National Bank of Canada Financial Markets
acting as joint lead book-running managers, RBC Capital Markets and
Cantor acting as joint book-running managers and B. Riley
Securities, H.C. Wainwright & Co. and Roth Capital Partners
acting as co-managers (collectively, the "Underwriters").
Perpetua Resources has also granted the Underwriters an option
(the "Option") to purchase up to an additional 515,919 Common
Shares representing up to 15% of the number of Common Shares to be
sold pursuant to the Offering. The Option is exercisable for
a period of 30 days from the date of the Underwriting Agreement,
dated November 18, 2024, between
Perpetua Resources and BMO Capital Markets as representative of the
several Underwriters (the "Underwriting Agreement").
The Offering is expected to close on or about November 20, 2024. Closing of the Offering will
be subject to a number of customary conditions included in the
Underwriting Agreement.
The Offering to the public in the
United States is being made pursuant to the Company's
effective shelf registration statement on Form S-3, including a
base prospectus, previously filed with the Securities and Exchange
Commission (the "SEC"). The Offering in the United States will be made only by means
of a prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended. You may obtain these documents for free by visiting EDGAR
on the SEC's website at www.sec.gov. Alternatively, copies of the
preliminary prospectus supplement and the base prospectus may be
obtained from BMO Capital Markets Corp., Attn: Equity Syndicate
Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy shares of Perpetua Resource's
common stock, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Perpetua Resources and the Stibnite Gold
Project
Perpetua Resources Corp., through its wholly owned subsidiaries,
is focused on the exploration, site restoration and redevelopment
of gold-antimony-silver deposits in the Stibnite-Yellow Pine
district of central Idaho that are
encompassed by the Stibnite Gold Project. The Stibnite Gold
Project is one of the highest-grade, open pit gold deposits in
the United States and is designed
to apply a modern, responsible mining approach to restore an
abandoned mine site and produce both gold and the only mined source
of antimony in the United States.
Further advancing Perpetua Resources' ESG and sustainable mining
goals, the Stibnite Gold Project will be powered by one of the
lowest carbon emissions grids in the nation and a portion of the
antimony produced from the Stibnite Gold Project will be supplied
to Ambri, a U.S.-based company commercializing a low-cost liquid
metal battery essential for the low-carbon energy transition.
Perpetua Resources has been awarded a Technology Investment
Agreement of $59.2 million in Defense
Production Act Title III funding to advance construction readiness
and permitting of the Stibnite Gold Project. Antimony trisulfide
from Stibnite is the only known domestic source of antimony that
can meet U.S. defense needs for many small arms, munitions, and
missile types.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS OR
INFORMATION
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding the conduct of the Offering;
the granting of the Underwriters' over-allotment option; and the
anticipated use of proceeds from the Offering. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases or variations of such words and phrases or statements
such as "anticipate", "expect" "plan", "likely", "believe",
"intend", "forecast", "project", "estimate", "potential", "could",
"may", "will", "would" or "should". Forward-Looking Information are
based on certain material assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results to be materially different from any future results
expressed or implied by the Forward-Looking Information. There can
be no assurance that Forward-Looking Information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. For further information on these and other risks and
uncertainties that may affect the Company's business, see the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of the Company's
filings with the SEC, including Perpetua's Annual Report on Form
10-K filed with the SEC on March 26,
2024 and subsequent Quarterly Reports on Form 10-Q filed
with the SEC, which are available at www.sec.gov and with the
Canadian securities regulators, which are available at
www.sedar.com. Except as required by law, Perpetua Resources does
not assume any obligation to release publicly any revisions to
Forward-Looking Information contained in this news release to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
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SOURCE Perpetua Resources Corp.