Integra Completes Share Consolidation

VANCOUVER, British Columbia, May 26, 2023 (GLOBE NEWSWIRE) -- Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR; NYSE American: ITRG) is pleased to announce, further to its May 23, 2023 press release, the completion of the Company’s proposed consolidation of its Common Shares on the basis of one (1) new post-consolidation Common Share for every two and a half (2.5) existing pre-consolidation Common Shares (the “Consolidation").

The Consolidation reduces the number of outstanding Common Shares from 171,943,828 to approximately 68,777,531. Proportionate adjustments have been made to the Company’s outstanding stock options, restricted share units and deferred share units. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional Common Shares that would have otherwise been issued will be rounded to the nearest whole Common Share.

A letter of transmittal with respect to the Consolidation will be mailed to the Company’s registered shareholders. All registered shareholders will be required to send their certificate(s) or direct registration system advices (“DRS Advices”) representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company’s registrar and transfer agent, TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for their post-Consolidation positions. A copy of the letter of transmittal is filed on the Company’s issuer profile on SEDAR at www.sedar.com.

It is anticipated that the post-Consolidation Common Shares will commence trading on the TSX Venture Exchange (the “TSXV”) and the NYSE American under its new CUSIP number 45826T509 (ISIN CA45826T5098) at market open May 26, 2023. The trading symbol for the Company’s shares on the TSX-V will remain “ITR” and the trading symbol for the Company’s shares on the NYSE American will remain “ITRG”.

Millennial Warrants

Pursuant to the court-approved plan arrangement (the “Arrangement”) in connection with the at-market merger of Integra and Millennial Precious Metals Corp. (“Millennial”), each Millennial warrant to purchase common shares (a “Millennial Warrant”) will, upon the exercise of such rights, entitle the holder thereof to be issued and receive for the same aggregate consideration, upon such exercise, in lieu of the number of Millennial common shares (each, “Millennial Share”) to which such holder was theretofore entitled upon exercise of such Millennial Warrants, the kind and aggregate number of Common Shares that such holder would have been entitled to be issued and receive if, immediately prior to the effective time of the Arrangement, such holder had been the registered holder of the number of Millennial Shares to which such holder was theretofore entitled upon exercise of such Millennial Warrants. All other terms governing the warrants, including, but not limited to, the expiry date, exercise price and the conditions to and the manner of exercise, will be the same as the terms that were in effect immediately prior to the effective time of the Arrangement, and shall be governed by the terms of the applicable warrant instruments. Pursuant to the Consolidation, proportionate adjustments have been made to the aggregate number of Common Shares that such holder is entitled to upon exercise of such Millennial Warrants and to the exercise price of the Millennial Warrants.