Perpetua Resources Secures $35 Million Offering for Growth

Perpetua Resources Announces Public Offering of Common Shares

Perpetua Resources Corp. (NASDAQ: PPTA) is excited to announce the successful pricing of its public offering of 3,439,465 shares of common stock at a price of US$10.17 per share. This offering is expected to generate gross proceeds of approximately $35 million.

Utilization of Offering Proceeds

The net proceeds from this offering are aimed at securing down payments on essential long-lead time materials and advancing the detailed engineering work for the company's Stibnite Gold Project. In addition, funds will support general corporate purposes, further cementing Perpetua's position as a leader in innovative and responsible mining practices.

Offering Details and Underwriters

The offering will be managed by a team of experienced underwriters, including BMO Capital Markets and National Bank of Canada Financial Markets, who will act as joint lead book-running managers. RBC Capital Markets and Cantor will also lend their expertise as joint book-running managers, alongside B. Riley Securities, H.C. Wainwright & Co., and Roth Capital Partners serving as co-managers.

Underwriters’ Over-Allotment Option

Perpetua Resources has granted the underwriters an option to purchase an additional 515,919 common shares, representing an additional 15% of the total offering. This option can be exercised within 30 days from the date of the Underwriting Agreement.

Project on Track for Success

The offering is anticipated to close soon, contingent upon customary conditions outlined in the Underwriting Agreement. Perpetua Resources is leveraging its effective shelf registration to facilitate this offering, ensuring compliance with the Securities and Exchange Commission requirements.

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp., through its subsidiaries, is at the forefront of exploring and redeveloping gold-antimony-silver deposits within the Stibnite-Yellow Pine district. The Stibnite Gold Project stands as one of the richest open-pit gold deposits in the country. The project’s modern, sustainable mining techniques are key to restoring the previously abandoned mine site, enhancing both economic and environmental outcomes.

Commitment to Sustainability and Innovation

Perpetua Resources is committed to enhancing its ESG (Environmental, Social, Governance) initiatives through responsible practices. The project's operations will be powered by one of the nation's lowest carbon emissions grids. Furthermore, the Stibnite Gold Project will contribute to the supply of antimony to Ambri, a US-based company focused on developing low-cost liquid metal batteries crucial in the transition to low-carbon energy.

Funding Support for Project Development

Significantly, Perpetua Resources has secured a Technology Investment Agreement worth $59.2 million through Title III funding to advance construction readiness and permitting efforts for the Stibnite Gold Project. This funding is a vital step towards meeting increasing US defense needs for antimony used in various military applications.

Frequently Asked Questions

What is the purpose of the common shares offering?

The proceeds will be used for down payments on materials, engineering for the Stibnite Gold Project, and general corporate needs.

Who is managing the underwriting for the offering?

The offering is managed by BMO Capital Markets and National Bank of Canada Financial Markets, among others.

What is the significance of the Stibnite Gold Project?

The project aims to utilize sustainable mining practices to redevelop a rich gold-antimony deposit while minimizing environmental impact.

How much funding has Perpetua Resources secured?

Perpetua Resources has announced approximately $35 million in gross proceeds from the offering, with additional options available for the underwriters.

What makes the Stibnite project environmentally friendly?

The Stibnite Gold Project is designed to operate with low carbon emissions and aims to restore a previously abandoned site sustainably.

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