CHEYENNE, Wyo., Might 9, 2025 /PRNewswire/ — U.S. Gold Corp. (“U.S. Gold,” the “Company,” “we,” “our” or “us”) (Nasdaq: USAU) is pleased to provide an update regarding the exercises of previously issued warrants subsequent to the Company’s latest Form 10-Q filing for the three months ended January 31, 2025, filed on March 17, 2025.
At January 31, 2025, the Company reported 4,788,112 warrants outstanding. Since then, the Company has benefited from the exercise of 1,864,668 warrants, generating gross proceeds for the Company of approximately $7.3 million. The exercises represent an approximate 39% reduction in warrants outstanding, decreasing the remaining balance to 2,923,444 warrants.
Mr. Eric Alexander, U.S. Gold’s CFO, commented on the recent warrant exercises, “The cash received from these warrant exercises provides the Company extra leeway to carry out its current planned activities of completing a Feasibility Study, developing a project execution plan, advancing financing discussions, and providing funds for elements of the project infrastructure. The reduction in the outstanding warrants helps to limit the overhang of dilutive securities. We appreciate the continued support of all our shareholders as we navigate down the development path on our flagship asset, the CK Gold Project in Southeast Wyoming.” Regarding our exploration projects, Mr. Alexander added, “We continue to keep our eyes on our Keystone exploration property in Nevada and the Challis Gold Project in Idaho, and with this additional cash infusion, we may look to deploy a portion to continue advancing these projects.”
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Our CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Samuel Engineering Inc. Our Keystone exploration property is on the Cortez Trend in Nevada. Our Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please https://www.usgoldcorp.com/.
Cautionary Observe Relating to Ahead-Taking a look Statements
Positive statements on this press let go are forward-looking inside the that means of the guard harbor provisions of the U.S. Non-public Securities Litigation Reform Employment of 1995. Those statements could also be recognized via the worth of forward-looking phrases reminiscent of “proposed,” “aims,” “anticipates”, “forecast,” “estimated,” “believes,” “continues” and “intend,” amongst others. Those forward-looking statements come with statements in regards to the anticipated worth of proceeds from the new warrant workout routines; the restricted overhang of dilutive securities from the aid in exceptional warrants; and the Corporate’s plans to go exploration actions on the Keystone exploration component and Challis Gold Challenge. The Corporate has primarily based those forward-looking statements on its tide expectancies and guesses about life occasions. Age control considers those expectancies and guesses to be cheap, they’re inherently topic to important industry, financial, aggressive, regulatory, and alternative dangers, contingencies, and uncertainties, maximum of which can be tough to are expecting and plenty of of which can be past the Corporate’s keep an eye on. The Corporate undertakes disagree responsibility to proper or replace any knowledge contained herein.
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