PRINCETON, N.J., June 28, 2016 /PRNewswire/ -- Dataram
Corporation (NASDAQ: DRAM), today announced that its acquisition
target US Gold Corp. ("USGC"), has engaged Nevada exploration geologist Dave
Mathewson to join the company as Vice President, Lead Geologist and
Head of Exploration for its Keystone Project, located in one of the
world's most highly prospective mineral trends.
Dave Mathewson is a well-known
and highly respected Nevada
geologist with more than 35 years of continually demonstrated gold
exploration experience in Nevada.
Notable discoveries made while Head of Newmont Nevada's Exploration
team from 1989 through 2001 include: Tess, Northwest Rain, Saddle
and South Emigrant in the Rain mining district. From 1999-2001 the
Mathewson-led team made important deposit extension discoveries at
Newmont's Gold Quarry and Mike deposits. Most recently his work at
Gold Standard Ventures led to the consolidation of the
Railroad-Pinion district and the North Bullion and Bald Mountain
discoveries. Before Gold Standard Ventures, Dave was VP of
Exploration at Tone Resources, which was acquired by McEwen
Mining.
"Dataram's acquisition target, US Gold, continues to assemble an
experienced and technically proficient team of junior gold
exploration and mining experts, which now includes Dave Mathewson," says Dave Moylan, Dataram's Chairman and Chief
Executive Officer. "Dave is a strong addition to the US Gold team
and brings more than 35 years of exploration experience in
Nevada. He is a well-known and respected exploration
geologist who is credited with many discoveries, and one of a
handful of world-class geologists that historically finds new gold
deposits. Dave's enthusiasm for Nevada and the Keystone project is very
exciting for the Dataram and US Gold Corp. teams. In
addition, we look forward to working with the entire US Gold Corp.
team, which consists of a seasoned team of experts in mining,
engineering, and operations planning and development. Their deep
industry knowledge and sector expertise will help to advance the
exploration program."
Dave Mathewson joins USGC's
already impressive, high-caliber management team and board of
directors, which includes David
Rector and Tim Janke.
Mr. Rector is USGC's Chief Operating Officer and has more than 30
years of general management experience. He has held numerous
officer and director positions with natural resource companies that
include Pershing Gold Corp, formerly known as Sagebrush Gold Ltd.
of which he was co-founder, and Valor Gold Corp. Mr. Janke is
a seasoned mining professional with nearly four decades of
experience in mining engineering and operations, with a proven
track record in junior mining companies. Tim was formerly
Chief Operating Officer for AuEx Ventures, Inc. where he was
responsible for operations planning and development of the Long
Canyon Project. Tim also has extensive Nevada operational experience including
General Manager at the Marigold, Florida Canyon, Ruby Hill, and Pinson mines as well as Special
Projects Engineer at the Round Mountain Mine.
Dataram's acquisition target, US Gold Corp., is a U.S. focused
junior gold exploration and development company which controls the
Copper King Project, an advanced stage gold exploration project
based in Wyoming, owns certain
mining leases and other mineral rights in the Silver Crown Mining
District of southeast Wyoming, and
owns a large package of mining claims referred to as the "Keystone
Project," located on the Cortez Gold Trend in Eureka County, Nevada.
Dataram and USGC entered into an Agreement and Plan of Merger on
June 13, 2016 pursuant to which and
if completed, Dataram will acquire 100% of USGC and its
subsidiaries. The closing of the merger is subject to usual
and customary conditions, including completion of an audit and
approximately $4 million in
cash. The Agreement and Plan of Merger can be examined on the
SEC Website www.sec.gov and has been filed as an exhibit to the
Company's current report on Form 8-K filed June 13, 2016. There can be no assurance the
terms and conditions of the Merger will be satisfied or the Merger
will be completed. The Merger is further subject to approval
of the shareholders of the Company.
About Dataram Corporation
Dataram is a leading independent manufacturer of memory products
and provider of performance solutions that increase the performance
and extend the useful life of servers, workstations, desktops and
laptops sold by leading manufacturers such as Dell, Cisco, Fujitsu,
HP, IBM, Lenovo and Oracle. Dataram's memory products and solutions
are sold worldwide to OEMs, distributors, value-added resellers and
end users. Additionally, Dataram manufactures and markets a line of
Intel Approved memory products for sale to manufacturers and
assemblers of embedded and original equipment. 70 Fortune 100
companies are powered by Dataram. Founded in 1967, the Company is a
US based manufacturer, with presence in the United States, Europe and Asia. For more information about Dataram,
visit www.dataram.com.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events, such as the
development of new products, pricing and availability of raw
materials or the future financial performance of the Company, the
pending acquisition of U.S. Gold Corp., and any anticipated
benefits of the merger, and the success of US Gold with respect to
any of its exploration activities. Actual results may differ
from such projections and are subject to certain risks including,
without limitation, risks arising from: changes in the price of
memory chips, changes in the demand for memory systems, increased
competition in the memory systems industry, order cancellations,
delays in developing and commercializing new products, risks
related to U.S. Gold faced by junior exploration companies
generally engaged in pre-production activities to include, among
other things, the inability to obtain external financing to fund
operations, planned exploration, permit modifications or to
maintain property rights; interpretations or reinterpretations of
geologic information, unfavorable exploration results, inability to
obtain permits required for planned production, exploration and
other activities; general economic conditions and conditions
affecting the industries in which US Gold operates; the uncertainty
of regulatory requirements and approvals; fluctuating mineral and
commodity prices; risks of junior exploration and pre-production
activities; maintenance of important business relationships; 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, including the Risk Factors with respect to U.S.
Gold contained in the Current Report on Form 8-K filed on
June 13, 2016, 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 does not assume any
obligations to update any of these forward-looking
statements.
For additional information, please
contact:
Robert Haag
Managing Director
IRTH Communications
866-976-4784
DRAM@irthcommunications.com
Dataram Contact:
Jeffrey Goldenbaum
Director,
Marketing
609-799-0071
info@dataram.com
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SOURCE Dataram Corporation