U.S. Gold (NASDAQ: USAU) on Monday announced its entry into a securities purchase agreement with certain institutional investors, providing for the purchase and sale of 357,143 shares of common stock, each at a price of $5.60, in a registered direct offering, resulting in total gross proceeds of $2.0 million. According to the update, U.S. Gold also agreed to issue unregistered warrants to the investors in a concurrent private placement to purchase up to 1 share of common stock for each share of common stock purchased with an exercise price of $7.00 per share. The warrants will be exercisable six months following the issuance and will expire five years following the initial exercise date.
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About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration company. U.S. Gold Corp. has a portfolio of exploration properties. Copper King is located in Southeast Wyoming and has a Preliminary Economic Assessment (“PEA”) technical report, which was completed by Mine Development Associates. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. For more information about U.S. Gold Corp., please visit www.USGoldCorp.gold.
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