WINNEMUCCA, NV, Oct. 2, 2017 /CNW/ - Paramount Gold Nevada
Corp. (NYSE American: PZG) ("Paramount" or "the Company") announced
today that it has commenced a public offering of shares of its
common stock.
In addition, concurrently with the public offering of common
stock, the Company intends to sell, on a private placement basis,
up to 1.8 million shares of common stock to FCMI Parent Co. (up to
1.1 million shares) and Seabridge Gold Inc. (up to 700,000
shares) at the same price per share as the shares of common stock
sold to the public in the public offering.
The closings of the public offering and the private placement
are anticipated to occur on or about October
12, 2017 subject to the satisfaction of customary closing
conditions, including approval of the NYSE American.
Proceeds from the public offering and the private placement will
be used primarily to complete the Pre-feasibility Study on the
Grassy Mountain Project with a portion also going towards
permitting. Other uses of proceeds will include general
corporate purposes.
Canaccord Genuity Corp. and Cantor Fitzgerald Canada Corporation
are acting as joint-bookrunners of the offering and Roth Capital
Partners is acting as a co-manager.
The offering is being made in the
United States pursuant to a preliminary prospectus
supplement and the accompanying prospectus under the Company's
effective shelf registration statement on Form S-3 (File No.
333-218295) that was filed with the United States Securities and
Exchange Commission ("SEC") on May 26,
2017, and declared effective by the SEC on June 8, 2017 and in Canada pursuant to its preliminary
short-form prospectus filed with the securities regulatory
authorities in the Provinces of Ontario, Alberta and British Columbia.
Copies of these documents will be available at www.sec.gov and
www.sedar.com, respectively.
Investors may also obtain the final prospectus supplement and
final base short form shelf prospectus for the offering, when
available, by contacting Canaccord Genuity Corp. Attention:
Syndication Brookfield Place, 161 Bay Street, Suite 3100, P.O. Box
516 Toronto, ON M5J 2S1, Email:
ecm@canaccordgenuity.com, Cantor Fitzgerald Canada Corporation,
attention: Equity Capital Markets, 181 University Avenue, Suite
1500, Toronto, ON, M5H 3M7, email:
ecmcanada@cantor.com, or Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York, 10022, or by email at
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. Any offer to buy the securities
may be withdrawn or revoked, without obligation or commitment of
any kind, at any time prior to notice of its acceptance.
About Paramount
Paramount Gold Nevada Corp. is a U.S. based precious metals
exploration company. Paramount holds a 100% working interest
in the Grassy Mountain Project which consists of approximately
9,300 acres located on private and BLM land in Malheur County, Oregon. Additionally,
Paramount owns a 100% interest in the Sleeper Gold Project located
in Northern Nevada. The Sleeper Gold Project, which includes
the former producing Sleeper mine, totals 2,322 unpatented mining
claims (approximately 60 square miles or 15,500 hectares).
SOURCE Paramount Gold Nevada Corp.