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U.S. Gold Corp. Announces Closing of $2.5 Million Registered Direct Offering

No placement agent or broker dealer participated in the offering / Gross proceeds earmarked for general corporate purposes

ID: 1550091
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(PresseBox) - U.S. Gold Corp. (?U.S. Gold? or the ?Company?) (NASDAQ: USAU - https://www.commodity-tv.net/c/search_adv/?v=298829), a gold exploration and development company, announced today that it has agreed to sell, in a non-brokered offering, Date?) and will expire on a date that is the five (5) year anniversary of the Initial Exercise Date. The sale of the Units was priced at parity to the closing price of U.S. Gold common shares on June 19, 2019.

The net proceeds, after estimated expenses of the offering payable by the Company, will be approximately $2.425 million. broker dealer was used or participated in the offering of the Units.

U.S. Gold Corp. President and CEO Edward Karr stated, "We believe our ability to raise funds at parity to the Market supports the optimism that many of our shareholders share with management about the prospects of our two assets. We intend to use the net proceeds to advance our drilling and exploration program."

The Class X Warrants have a six-month term and provide a ?green shoe? to the Investors for up to an additional $1.25 million to the Company.

The offer and sale of the 0% Series F Preferred Stock, Class X Warrants, Class Y Warrants and common stock underlying these securities (the ?Registered Securities?), are being registered under the Company?s shelf registration statement on Form S-3 (File No. 333-217860), declared effective by the Securities and Exchange Commission (the ?SEC?) on May 16, 2017. ith the SEC and may be obtained by visiting EDGAR on the SEC?s website at www.sec.gov.

The Company issued investors in the Unit placement, Class A Warrants in a private placement.erlying the Class A Warrants have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold unless an exemption from such registration requirements is available.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.



About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded U.S.-focused gold exploration and development company. U.S. Gold Corp. has a portfolio of development and 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.www.usgoldcorp.gold.

Forward-looking and cautionary statements

Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. 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: changes in the price of gold and mining industry cost inputs, environmental and regulatory risks,www.sec.gov. We make no representation or warranty that the information contained herein is complete and accurate, and we have no duty to correct or update any information contained herein.

INVESTOR CONTACT:

U.S. Gold Corp. Investor Relations:

+1-800-557-4550

ir(at)usgoldcorp.gold

www.usgoldcorp.gold

In Europe:

Swiss Resource Capital AG

Jochen Staiger

info(at)resource-capital.ch

www.resource-cpaital.ch



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published by: PresseBox
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Date: 06/20/2019 - 16:04
Language: English
News-ID 1550091
Character count: 6678
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Firma: Swiss Resource Capital AG
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Stadt: Elko, NV
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