Paramount Gold Nevada Announces Registered Direct Offering and Concurrent Best Efforts Placement in Canada
June 22 2020 - 5:00PM
Paramount Gold Nevada Corp. (NYSE American: PZG) (“Paramount” or
the “Company”) announced today that it has commenced a non-brokered
registered direct offering (“RD”) of shares to certain US based and
other eligible investors. Concurrent to the RD, the Company has
engaged Canaccord Genuity Corp. and Cantor Fitzgerald Canada
Corporation as agents for a Canadian best efforts offering for
minimum aggregate gross proceeds of US$3 million (the
“Offerings”).
Closing of the Offerings is anticipated to occur on or about
June 30, 2020, subject to the satisfaction of customary closing
conditions, including approval of the NYSE American stock
exchange.
Proceeds from the Offerings will be used primarily to advance
the ongoing permitting of the Company’s high-grade Grassy Mountain
gold project in eastern Oregon and for general corporate
purposes.
The Offerings are being made in the United States pursuant to a
preliminary prospectus supplement and the accompanying base
prospectus under the Company’s effective shelf registration
statement on Form S-3 (File No. 333-218295)
that was declared effective by the United States Securities and
Exchange Commission (the “SEC”) on June 8, 2017 and in Canada
pursuant to the Company’s preliminary short form prospectus filed
with the Ontario Securities Commission on June 22, 2020. Copies of
these documents and the final prospectus supplement and the final
short form prospectus will be available under the Company’s
profiles at www.sec.gov and www.sedar.com, respectively.
Canadian investors may also obtain the final short form
prospectus for the Offerings, 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, or Cantor Fitzgerald Canada
Corporation, attention: Equity Capital Markets, 181 University
Avenue, Suite 1500, Toronto, ON, M5H 3M7, email:
ecmcanada@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may be withdrawn or revoked, without obligation or commitment of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.
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About Paramount Gold Nevada Corp.Paramount Gold
Nevada Corp. is a U.S. based precious metals exploration and
development company. Paramount’s strategy is to create shareholder
value through exploring and developing its mineral properties and
to realize this value for its shareholders in three ways: by
selling its assets to established producers; entering into joint
ventures with producers for construction and operation; or
constructing and operating mines for its own account.
Paramount owns 100% of the Grassy Mountain Gold Project which
consists of approximately 11,000 acres located on private and BLM
land in Malheur County, Oregon. The Grassy Mountain Gold Project
contains a gold-silver deposit (100% located on private land) for
which results of a positive Pre-Feasibility Study have been
released and key permitting milestones accomplished.
Paramount owns a 100% interest in the Sleeper Gold Project
located in Northern Nevada, the world’s premier mining
jurisdiction. 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). The Sleeper
gold project is host to a large gold deposit (over 4 million ounces
of mineralized material) and the Company has completed and released
a positive Preliminary Economic Assessment.
Safe Harbor for Forward-Looking StatementsThis
release and related documents may include "forward-looking
statements" and “forward-looking information” (collectively,
“forward-looking statements”) pursuant to applicable United States
and Canadian securities laws. Paramount’s future expectations,
beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and other applicable
securities laws. Words such as "believes," "plans,"
"anticipates," "expects," "estimates" and similar expressions are
intended to identify forward-looking statements, although these
words may not be present in all forward-looking statements.
Forward-looking statements included in this news release include,
without limitation, statements with respect to: the use of proceeds
from the Offerings and the anticipated closing date of the
Offerings. Forward-looking statements are based on the reasonable
assumptions, estimates, analyses and opinions of management made in
light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which
may prove to be incorrect. Management believes that the assumptions
and expectations reflected in such forward-looking statements are
reasonable. Assumptions have been made regarding, among other
things: the conclusions made in the PFS; the quantity and grade of
resources included in resource estimates; the accuracy and
achievability of projections included in the PFS; Paramount’s
ability to carry on exploration and development activities,
including construction; the timely receipt of required approvals
and permits; the price of silver, gold and other metals; prices for
key mining supplies, including labor costs and consumables,
remaining consistent with current expectations; work meeting
expectations and being consistent with estimates and plant,
equipment and processes operating as anticipated. There are a
number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including, but not limited to:
uncertainties involving interpretation of drilling results;
environmental matters; the ability to obtain required permitting;
equipment breakdown or disruptions; additional financing
requirements; the completion of a definitive feasibility study for
the Grassy Mountain project; discrepancies between actual and
estimated mineral reserves and mineral resources, between actual
and estimated development and operating costs and between estimated
and actual production; and the other factors described in
Paramount’s disclosures as filed with the SEC and the Ontario,
British Columbia and Alberta Securities Commissions.
Except as required by applicable law, Paramount disclaims any
intention or obligation to update any forward-looking statements as
a result of developments occurring after the date of this
document.
Paramount Gold Nevada Corp. Rachel Goldman, Chief
Executive OfficerChristos Theodossiou, Director of
Corporate
Communications866-481-2233Twitter:
@ParamountNV
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