CHEYENNE, Wyo.,
Dec. 6,
2024 /PRNewswire/ -- U.S. Gold Corp. ("U.S. Gold,"
the "Company," "we," "our" or "us") (NASDAQ: USAU), is pleased
to announce that it has closed the previously announced purchase
and sale of an aggregate of 1,457,700 shares of our common stock at
$7.00 per share and warrants to
purchase 728,850 shares of our common stock at an exercise price of
$9.50 per share (the "Transaction"),
in a registered direct offering. The aggregate gross proceeds from
the Transaction totaled approximately $10.2
million and closed on December 6,
2024. After the close of the Transaction, the Company's
common shares outstanding is 12,323,116.
The Company did not retain a placement agent in connection with
the Transaction.
U.S. Gold intends to use the net proceeds from the Transaction
for working capital and other general corporate purposes.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold and
copper exploration and development company. Its fully
permitted CK Gold Project is located in Southeast Wyoming and has a Preliminary
Feasibility Study technical report, which was completed by
Gustavson Associates, LLC. In addition, the Company has two
exploration projects: Keystone Gold located on the Cortez
Trend in Nevada about 11 miles
south of Nevada Gold Mines' Cortez
Hills Complex, and Challis Gold located in Idaho. For more information about U.S. Gold
Corp., please visit https://www.usgoldcorp.gold/.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated," and "intend," among others. These forward-looking
statements include statements related to our intended use of the
net proceeds from the Transaction. There are a number of factors
that could cause actual events to differ materially from those
indicated by such forward-looking statements. These factors
include, but are not limited to, risks arising from: market and
other conditions, the prevailing market conditions for metal prices
and mining industry cost inputs, environmental and regulatory
risks, COVID-19 risks, changes in interpretations of geological,
geostatistical, metallurgical, mining or processing information,
risks faced by junior companies generally engaged in exploration
activities, whether U.S. Gold Corp. will be able to raise
sufficient capital to develop the CK Gold Project and implement
future drilling programs, the success or failure of future drilling
programs, and other factors described in the Company's most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K filed with the Securities and Exchange
Commission, which can be reviewed at www.sec.gov. The Company has
based these forward-looking statements on its current expectations
and assumptions about future events. While management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory, and other risks, contingencies, and uncertainties, most
of which are difficult to predict and many of which are beyond the
Company's control. The Company undertakes no duty to correct or
update any information contained herein.
For additional information, please contact:
U.S. Gold Corp. Investor Relations
+1 800 557 4550
ir@usgoldcorp.gold
www.usgoldcorp.gold
View original content to download
multimedia:https://www.prnewswire.com/news-releases/us-gold-corp-closes-10-2-million-non-brokered-registered-direct-offering-302325325.html
SOURCE U.S. Gold Corp.