Argentina - Mexico - Nevada
A high growth, low cost mid-tier silver and gold producer in the Americas
Message: Announces the Closing of Its Public Offering of Common Stock
| May 19, 2009 | |
| US Gold Announces the Closing of Its Public Offering of Common Stock | |
|
TORONTO, ONTARIO--(Marketwire - May 19, 2009) - US GOLD CORPORATION (TSX:UXG)(NYSE Amex:UXG) (the "Company" or "US Gold"), a U.S. and Mexico focused gold and silver exploration company, announced today the closing of its previously announced public offering of common stock pursuant to the Company's shelf registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and a shelf prospectus filed with certain Canadian securities regulatory authorities. The Company sold 22.0 million shares of common stock at a price of US$2.00 per share. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to 3.3 million additional shares of common stock to cover over-allotments, if any. The over-allotment option must be exercised prior to June 12, 2009. Proceeds to the Company from the offering, net of commissions and expenses, were approximately US$40.8 million (assuming the underwriters' over-allotment option is not exercised). US Gold intends to use the majority of the net proceeds of this offering to fund its ongoing exploration in Nevada's Cortez Trend and in Mexico, as more particularly described in the final prospectus supplement dated May 12, 2009, filed with the SEC and certain Canadian securities regulatory authorities. The remaining proceeds will be used for general corporate purposes. GMP Securities L.P. and Dahlman Rose & Company, LLC acted as joint book-runners for the offering. Copies of the final prospectus supplement including the base prospectus relating to the offering may be obtained by either contacting the underwriters at the contact information below, by accessing the SEC website, www.sec.gov, or by accessing the website maintained by the Canadian securities regulatory authorities, SEDAR, at www.sedar.com. In the United States from: GMP Securities L.P. Attn: New Issues Department 145 King Street West, Suite 300 Toronto, Ontario M5H 1J8 Canada Phone: 416-943-6130 Fax: 416-943-6134 Email: ECM@gmpsecurities.com Dahlman Rose & Company, LLC Attn: Prospectus Dept. 142 West 57th Street 18th Floor New York, NY 10019 Phone: 212-702-4521 Fax: 212-920-2952 Email: ECM@dahlmanrose.com In Canada from: GMP Securities L.P. Attn: New Issues Department 145 King Street West, Suite 300 Toronto, Ontario M5H 1J8 Canada Phone: 416-943-6130 Fax: 416-943-6134 Email: ECM@gmpsecurities.com |
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