Hycroft Mining Announces $60 Million Non-Brokered Private Placement to Fund Mine Advancement and Corporate Growth
Reuters
Sep 03
Hycroft Mining Announces $60 Million Non-Brokered Private Placement to Fund Mine Advancement and Corporate Growth
Hycroft Mining Holding Corporation (Nasdaq: HYMC) has announced a non-brokered private placement priced at-the-market under Nasdaq rules, raising aggregate proceeds of US$60 million. The placement consists of 14,017,056 units, each priced at US$4.2805. Each unit includes one share of common stock and one-half of a common stock purchase warrant, with each whole warrant exercisable to purchase one share at US$6.00 for 24 months. The funds will support the advancement of the Hycroft Mine and general corporate purposes. Eric Sprott, through 2176423 Ontario Ltd., is a major participant, subscribing to approximately 66% of the placement, while Tribeca Global Natural Resources Ltd. is subscribing to about 34%. Upon completion, Sprott's ownership in Hycroft will increase to 33%, and Tribeca will hold 8%. The placement is subject to customary closing conditions.
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