#United States #U.S. Gold Corp #stock offering #mining #Elko, Nevada

U.S. Gold Corp. Announces $10.2 Million Registered Direct Offering

In a significant move aimed at enhancing its financial position, U.S. Gold Corp. (NASDAQ: USAU) has officially declared the commencement of a registered direct offering. The company has struck a securities purchase agreement with select investors, arranging for the sale of 1,457,700 shares of its common stock at $7.00 per share, alongside warrants to purchase an additional 728,850 shares at an exercise price of $9.50 per share. This strategic financial initiative is expected to yield approximately $10.2 million in gross proceeds.

The offering, which includes the shares and the warrants, will close around December 2, 2024, contingent upon standard closing conditions being met. Notably, the warrants will be exercisable six months post-issuance and will remain valid for a duration of three years.

This capital raise moves forward under a previously established shelf registration statement on Form S-3, which was authorized by the U.S. Securities and Exchange Commission (SEC) on May 12, 2022. Investors and interested parties can look forward to a final prospectus supplement that will shed more light on this registered direct offering. This document, along with the accompanying prospectus, will be readily accessible on the SEC's official website at www.sec.gov.

U.S. Gold Corp. emphasizes that this announcement does not constitute an offer or a solicitation for these securities in any jurisdiction where such offers or sales would be illegal prior to the appropriate registration or qualification.

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded company focused on gold and copper exploration and development within the United States. The company boasts a fully permitted CK Gold Project, situated in Southeast Wyoming. The project recently underwent a technical report evaluation by Gustavson Associates, LLC, which completed a Preliminary Feasibility Study. Additionally, U.S. Gold Corp. holds two exploratory projects: Keystone Gold, located along the Cortez Trend in Nevada, and Challis Gold, positioned in Idaho, approximately 11 miles south of Nevada Gold Mines’ Cortez Hills Complex.

The funds acquired through this offering are intended not only to bolster ongoing project developments but also to facilitate future exploration initiatives, which may yield promising returns in the mining industry.

Forward-Looking Statements

As a part of its press release, U.S. Gold Corp. included several forward-looking statements in accordance with the Private Securities Litigation Reform Act of 1995. These statements are projections that might involve certain expectations that differ from outcomes due to various factors. Considerations such as market conditions, the capability to fulfill standard closing conditions, and environmental regulations could all influence the actual results.

The company cautions that while these outlooks are based on present expectations, they are subject to significant uncertainties and risks that could materially affect actual performance. Potential investors are encouraged to review U.S. Gold Corp.’s recent reports filed with the SEC, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for further insights into the inherent risks in the exploration industry.

For further inquiries, stakeholders and interested investors can contact U.S. Gold Corp. Investor Relations at +1 800 557 4550 or visit their official website at www.usgoldcorp.gold.