ELKO, Nev., Jan. 22, 2018 /PRNewswire/ -- U.S. Gold
Corp. ("U.S. Gold" or the "Company") (NASDAQ: USAU), a gold
exploration and development company, announced today that it has
closed its previously announced $5.0
million sale of its Series E convertible preferred stock in
a non-brokered registered direct offering. Concurrently, the
Company also issued common stock purchase warrants in a private
placement.
The net proceeds, after estimated expenses of the offering
payable by the Company, are approximately $4.9 million. The Company expects to use
the net proceeds from the offering for general corporate purposes,
which may include working capital, capital expenditures and other
corporate expenses, although the Company does not have any current
plans, agreements or commitments at this time. No placement
agent or broker dealer was used or participated in the offering of
the shares of Series E convertible preferred stock or the private
placement of the warrants.
A shelf registration statement on Form S-3 (File No. 333-217860)
relating to the shares of Series E convertible preferred stock sold
was declared effective by the Securities and Exchange
Commission on May 16, 2017.
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, done
by Mine Development Associates. Keystone is an exploration
property on the Cortez Trend in Nevada, identified and consolidated by
Dave Mathewson. For more
information about U.S. Gold Corp., please visit
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: whether or not U.S. Gold Corp.
will be able to raise capital through this offering or consummate
this offering, the satisfaction of customary closing conditions,
prevailing market conditions, the anticipated use of proceeds from
the offering and the impact of general economic industry or
political conditions in the United
States or globally. A list and description of these
and other risk factors can be found 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 filed with the Securities and
Exchange Commission, which can be reviewed at 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@usgoldcorp.gold
www.usgoldcorp.gold
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SOURCE U.S. Gold Corp.