USAU - U.S. Gold Corp. unveils $5M registered direct offering

U.S. Gold Corp. (USAU -2.9%) slides at the open after entering into an agreement with a single institutional investor for the purchase and sale of 625K common shares at $8.00/share and warrants for 625K common shares at an $8.60 exercise price in a registered direct offering. The registered direct offering would result in $5M in total gross proceeds; closing of the sale of the securities is expected to take place on or about March 18. A month ago, U.S. Gold announced a stock and warrants offering for ~$2.5M in total gross proceeds.

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U.S. Gold Corp. unveils $5M registered direct offering