WINNEMUCCA, Nev., Oct. 4, 2023
/PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq:
HYMC) ("Hycroft" or "the Company") announces that, as
anticipated, today it received a notice from Nasdaq indicating the
Company's shares would be delisted on October 12, 2023, due to non-compliance with
Nasdaq's minimum bid price requirement as set forth in Nasdaq's
Listing Rule 5550(a)(2). However, the delisting process will be
stayed and the Company's stock will continue to trade if the
Company requests a hearing before the Nasdaq Hearings Panel (the
"Panel") no later than October 10,
2023. The Company intends to file its hearing request on
October 9, 2023. Further information
about this process can be found at
https://listingcenter.nasdaq.com/.
The Company is diligently working to regain compliance with the
minimum bid price requirement and will provide an update when
relevant information becomes available.
About Hycroft Mining Holding
Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver
company developing the Hycroft Mine, one of the world's largest
precious metals deposits located in northern Nevada, a Tier-One mining jurisdiction. After
a long history of oxide heap leaching operations, the Company is
focused on completing the technical studies to transition the
Hycroft Mine into a large-scale milling operation for processing
the sulfide ore. In addition, the Company is engaged in a robust
exploration drill program to unlock the full potential of our
expansive +64,000-acre land package, of which only 10% has been
explored.
www.hycroftmining.com
Cautionary Note Regarding
Forward-Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, Section 21E of the United States Securities
Exchange Act of 1934, as amended, or the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included herein and public
statements by our officers or representatives, that address
activities, events or developments that our management expects or
anticipates will or may occur in the future, are forward-looking
statements, including but not limited to such things as future
business strategy, plans and goals, competitive strengths and
expansion and growth of our business. The words "estimate", "plan",
"anticipate", "expect", "intend", "believe" "target", "budget",
"may", "can", "will", "would", "could", "should", "seeks", or
"scheduled to" and similar words or expressions, or negatives of
these terms or other variations of these terms or comparable
language or any discussion of strategy or intention identify
forward-looking statements. Forward-looking statements address
activities, events, or developments that the Company expects or
anticipates will or may occur in the future and are based on
current expectations and assumptions. Forward-looking
statements include, but are not limited to (i) risks related to
changes in our operations at the Hycroft Mine, including risks
associated with the cessation of mining operations at the Hycroft
Mine; uncertainties concerning estimates of mineral resources;
risks related to a lack of a completed feasibility study; and risks
related to our ability to re-establish commercially feasible mining
operations; (ii) industry related risks including fluctuations in
the price of gold and silver; the commercial success of, and risks
related to, our exploration and development activities;
uncertainties and risks related to our reliance on contractors and
consultants; availability and cost of equipment, supplies, energy,
or reagents. The exploration target does not represent, and
should not be construed to be, an estimate of a mineral resource or
mineral reserve, as ranges of potential tonnage and grade (or
quality) of the exploration target are conceptual in nature; there
has been insufficient exploration of the relevant property or
properties to estimate a mineral resource; and it is uncertain if
further exploration will result in the estimation of a mineral
resource. These risks may include the following, and the
occurrence of one or more of the events or circumstances alone or
in combination with other events or circumstances may have a
material adverse effect on the Company's business, cash flows,
financial condition, and results of operations. Please see our
"Risk Factors" outlined in our Annual Report on Form 10-K for the
year ended December 31, 2022, our Quarterly Report on Form
10-Q for the periods ended June 30, 2023, and other reports
filed with the SEC for more information about these and other
risks. You are cautioned against attributing undue certainty to
forward-looking statements. Although we have attempted to identify
important factors that could cause actual results to differ
materially from those described in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Although these forward-looking
statements were based on assumptions that the Company believes are
reasonable when made, you are cautioned that forward-looking
statements are not guarantees of future performance and that actual
results, performance, or achievements may differ materially from
those made in or suggested by the forward-looking statements in
this news release. In addition, even if our results, performance,
or achievements are consistent with the forward-looking statements
contained in this news release, those results, performance or
achievements may not be indicative of results, performance or
achievements in subsequent periods. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
these forward-looking statements. Any forward-looking statements
made in this news release speak only as of the date of those
statements. We undertake no obligation to update those statements
or publicly announce the results of any revisions to any of those
statements to reflect future events or developments.
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SOURCE Hycroft Mining Holding Corporation