Perpetua Resources Corp. Secures $400M Financing

By Tamara Parker • Thursday, June 12 10:10 • Permanent Link

Perpetua Resources Corp. (NASDAQ: PPTA / TSX: PPTA) has announced a comprehensive financing package for its Stibnite Gold Project, including a US$300 million bought deal financing and a US$100 million private placement. The company plans to use the proceeds for the development of the project and to support exploration activities, working capital, and general corporate purposes.

This financing comes in conjunction with a previously announced application for up to US$2 billion in project financing submitted to the Export-Import Bank of the United States (EXIM) in May 2025. The company intends to designate the proceeds of the offering and the private placement toward equity requirements for the EXIM debt financing.

The company is also in advanced discussions with potential partners for guarantees of the company’s obligations under reclamation bonds or other financial instruments. These discussions involve seeking a US$155 million guarantee and indemnification of the company’s obligations to surety providers in exchange for a gold net smelter return (“NSR”) royalty not to exceed 3.9% or a gold stream. The proposed royalty and financial assurance arrangement is expected to be formalized in the summer of 2025.

In addition to the bought deal financing and private placement, Perpetua Resources has also granted the underwriters an option to purchase up to an additional 3,409,200 common shares. The offering is expected to close on or about June 16, 2025, subject to customary conditions.

The Stibnite Gold Project 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. The company has been awarded a technology investment agreement of US$59.2 million in defense production act title III funding to advance construction readiness and permitting of the project.

For further information, please contact: Chris Fogg, Investor Relations Manager, [email protected] McKinsey Lyon, Vice President External Affairs, [email protected] As a result of these announcements, the company's shares have moved -0.24% on the market, and are now trading at a price of $16.49. If you want to know more, read the company's complete 8-K report here.

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