Orion Mine Finance Provides Ownership Update on i-80 Gold Shares

Orion Mine Finance has provided an update on its beneficial ownership of i-80 Gold shares. Orion Mine Finance Fund II and Orion Mine Finance Fund III own beneficial interests in 4.4% and 2.5% of i-80 Gold's outstanding common shares, respectively.

On July 2, 2025, Orion Mine Finance provided an update on its beneficial ownership of i-80 Gold Corp. shares. The update revealed that Orion Mine Finance Fund II LP and Orion Mine Finance Fund III LP, collectively known as "Orion," sold a total of 3,350,800 common shares of i-80 Gold Corp. from August 13, 2025, to August 15, 2025 [1].

The transactions were executed over the Toronto Stock Exchange at prices ranging from C$0.8017 to C$0.9056 per share, generating aggregate gross proceeds of C$2,862,889.94. Prior to the transactions, Orion and its affiliates owned 20,727,351 common shares and 16,808,788 warrants. Additionally, a convertible loan of US$67,133,712 was outstanding between OMF Fund III (F) Ltd. and i-80 Gold Corp. [1].

The convertible loan allows the principal amount and accrued interest to be converted into common shares at a conversion price of C$3.275 per share. Assuming an exchange rate of C$1.27 to US$1.00, the loan amount was convertible into 46,713,024 common shares immediately prior to the transactions [1].

Following the transactions, Orion's ownership of common shares decreased, with the Orion Group owning 17,376,551 common shares and 16,808,788 warrants. The loan amount would be convertible into 46,713,024 common shares, representing approximately 9.20% of i-80's issued and outstanding common shares on a partially diluted basis [1].

Orion Mine Finance Fund II LP and Orion Mine Finance Fund III LP own beneficial interests in 4.4% and 2.5% of i-80 Gold's outstanding common shares, respectively. This update underscores Orion's commitment to managing its investment portfolio in alignment with market conditions and the company's future prospects [2].

References:
[1] https://finance.yahoo.com/news/orion-mine-finance-provides-beneficial-022300379.html
[2] https://www.newswire.ca/news-releases/orion-mine-finance-provides-update-on-its-beneficial-ownership-of-common-shares-of-i-80-gold-corp--845547989.html