Business Context and Reporting Period
Company: I-80 Gold Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: February 25, 2026
Reporting Period: Specific event date (February 25, 2026)
Context: The filing discloses an extension of the deadline for holders of the Company's 8% secured convertible debenture notes due 2027 to submit interest conversion election notices in connection with a mandatory redemption.
Key Financial Metrics
This filing is a current report regarding a corporate action and does not contain audited financial statements, revenue, profit, cash flow, or liquidity metrics. The filing text does not provide a clear value for these items.
Material Changes and Corporate Actions
- Event: Extension of the deadline for the "Interest Election Right" regarding the 8% secured convertible debenture notes due 2027.
- New Deadline: 5:00 pm (EST) on Friday, March 6, 2026.
- Conversion Terms: The conversion price is calculated based on the volume-weighted average trading price of Common Shares on the TSX during the five trading days immediately preceding the receipt of the election notice, less a 15% discount, converted to U.S. dollars at the Bank of Canada rate.
- Default Outcome: Holders who do not submit an election notice by the deadline will be paid in cash for accrued and unpaid interest.
- Irrevocability: Previously submitted Interest Election Notices cannot be withdrawn.
Guidance, Outlook, and Risks
Management Commentary: The Company instructed debentureholders holding through intermediaries (banks, brokers) to contact them immediately, as intermediaries may have established cut-off times prior to the official deadline.
Risks/Contingencies: Failure to submit the election notice by the extended deadline results in cash payment rather than share conversion. The filing explicitly states it is not a notice of redemption or convertibility itself, which is governed by a separate Redemption Notice dated February 11, 2026.
Investor Verification Checklist
- Verify the specific cut-off times with brokers or intermediaries if holding debentures indirectly.
- Confirm the status of any previously submitted Interest Election Notices (noting they are irrevocable).
- Review the separate Redemption Notice dated February 11, 2026, for details on the mandatory redemption of the principal.
- Monitor the TSX trading price of Common Shares (IAU) in the five days preceding any election submission to estimate the conversion price.