WINNEMUCCA, Nev., June 11,
2025 /PRNewswire/ -- Hycroft Mining Holding
Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company") is
pleased to announce a proposed public underwritten offering of
units of the Company (the "Units") for gross proceeds of
approximately $40 million (the
"Offering"). Each Unit will be comprised of one share of
common stock of the Company and one-half of one common stock
purchase warrant (each whole warrant, a "Warrant"). Each
Warrant will be exercisable to purchase one share of common stock
of the Company.
Hycroft intends to use the net proceeds from the Offering for
further exploration, working capital and general corporate
purposes.
BMO Capital Markets and Paradigm Capital Inc. are acting as
joint book-running managers for the Offering. SCP Resource Finance
LP is acting as a capital markets advisor to the Company. The
Offering will be priced in the context of the market with the
price, total size and other final terms of the Offering and the
Units to be determined at the time of entering into an underwriting
agreement for the Offering. Hycroft will also grant the
underwriters a 30-day option to purchase up to an additional 15% of
the base Offering, to acquire Units, shares of Common Stock and/or
Warrants (or any combination thereof), at the underwriters'
discretion. Closing of the Offering will be subject to a number of
customary conditions, including the entering into of a definitive
underwriting agreement.
The Offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-279292) that was filed
by the Company with the U.S. Securities and Exchange Commission
(the "SEC"), as amended. A preliminary prospectus supplement
relating to and describing the terms of the Offering will be filed
with the SEC and will be available on the SEC's website at
www.sec.gov. Copies of the preliminary prospectus supplement and
accompanying prospectus, as well as copies of the final prospectus
supplement, once available, may be obtained upon request by
contacting BMO Capital Markets Corp., Attn: Equity Syndicate
Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at
bmoprospectus@bmo.com.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Hycroft Mining Holding Corporation
Hycroft Mining Holding Corporation is a US-based gold and silver
company developing the Hycroft Mine, among the world's largest
precious metals deposits located in northern Nevada, a Tier-One mining jurisdiction. After
a long history of oxide heap leaching operations, the Company is
focused on completing the technical studies to transition the
Hycroft Mine into the next phase of commercial operations for
processing the sulfide ore. In addition, the Company is engaged in
a robust exploration drill program to further expand the newly
discovered high-grade dominant silver systems and unlock the full
potential of this worldclass asset, including oxide leaching
potential at Manganese.
For further information, please contact:
info@hycroftmining.com
Cautionary Note Regarding Forward-Looking
Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, Section 21E of the United States Securities
Exchange Act of 1934, as amended, or the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included herein and public
statements by our officers or representatives, that address
activities, events or developments that our management expects or
anticipates will or may occur in the future, are forward- looking
statements, including but not limited to such things as future
business strategy, plans and goals, competitive strengths and
expansion and growth of our business. The words "estimate", "plan",
"anticipate", "expect", "intend", "believe" "target", "budget",
"may", "can", "will", "would", "could", "should", "seeks", or
"scheduled to" and similar words or expressions, or negatives of
these terms or other variations of these terms or comparable
language or any discussion of strategy or intention identify
forward-looking statements. Forward-looking statements address
activities, events, or developments that the Company expects or
anticipates will or may occur in the future and are based on
current expectations and assumptions. Forward-looking statements in
this news release relate to, among other things, the completion of
the Offering and the terms thereof, the closing of the Offering,
the intended use of proceeds of the Offering and the strategic
vision and objectives for the Company and expectations regarding
exploration potential. Forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Such risks and uncertainties include, but are not
limited to, risks related to changes in our operations at the
Hycroft Mine, including risks associated with the cessation of
mining operations at the Hycroft Mine; uncertainties concerning
estimates of mineral resources; risks related to a lack of a
completed feasibility study; risks related to our ability to
re-establish commercially feasible mining operations; industry
related risks, including fluctuations in the price of gold and
silver; the commercial success of, and risks related to, our
exploration and development activities; uncertainties and risks
related to our reliance on contractors and consultants; and the
availability and cost of equipment, supplies, energy, or reagents.
The occurrence of one or more of the events or circumstances
described alone or in combination with other events or
circumstances may have a material adverse effect on the Company's
business, cash flows, financial condition, and results of
operations. Please see our "Risk Factors" outlined in our Annual
Report on Form 10-K for the year ended December 31, 2024, and other reports we have
filed with the SEC for more information about these and other
risks. You are cautioned against attributing undue certainty to
forward-looking statements. Although we have attempted to identify
important factors that could cause actual results to differ
materially from those described in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Although these forward-looking
statements were based on assumptions that the Company believed were
reasonable when made, you are cautioned that forward-looking
statements are not guarantees of future performance and that actual
results, performance, or achievements may differ materially from
those made in or suggested by the forward-looking statements in
this news release. In addition, even if our results, performance,
or achievements are consistent with the forward-looking statements
contained in this news release, those results, performance or
achievements may not be indicative of results, performance or
achievements in subsequent periods. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
these forward-looking statements. Any forward-looking statements
made in this news release speak only as of the date of those
statements. Readers cannot be assured that the Offering will be
completed on the terms described above, or at all. We undertake no
obligation to update those statements or publicly announce the
results of any revisions to any of those statements to reflect
future events or developments except as required by applicable law.
All forward-looking statements contained in this news release are
expressly qualified by the foregoing cautionary statements.
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