24 April 2023
Vancouver, British Columbia – April 24, 2023 – U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining") and GoldMining Inc. (TSX: GOLD; NYSE AMERICAN: GLDG) ("GoldMining") are pleased to announce the closing of U.S. GoldMining's initial public offering (the "IPO") today of 2,000,000 units of U.S. GoldMining (the "Units") at an initial public offering price of US$10.00 per Unit.
Each Unit is comprised of one share of common stock of U.S. GoldMining (a "Share") and one warrant to purchase one Share (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at an exercise price of US$13.00 per Share for a period of three years after issuance.
The Shares and Warrants of U.S. GoldMining began trading on the Nasdaq Capital Market on April 20, 2023, under the tickers "USGO" and "USGOW", respectively.
The gross proceeds from the offering were US$20.0 million before deducting underwriting discounts and commissions and other offering expenses. U.S. GoldMining plans to use the net proceeds from the offering to fund exploration and development activities at its Whistler gold-copper project, located in Alaska, U.S.A., repay funds advanced by GoldMining, and for working capital.