U.S. Gold Corp. announced on May 9, 2025, that it generated approximately $7.3 million in gross proceeds from the exercise of 1,864,668 previously issued warrants. These exercises occurred subsequent to the company's Form 10-Q filing for the three months ended January 31, 2025.
The exercises represent an approximate 39% reduction in outstanding warrants, decreasing the remaining balance to 2,923,444 warrants. CFO Eric Alexander stated that the cash received provides the company with additional leeway to complete its Feasibility Study, develop a project execution plan, advance financing discussions, and fund elements of the project infrastructure.
The reduction in outstanding warrants also helps to limit the overhang of dilutive securities, aligning with the company's priority to limit shareholder dilution as it navigates the development path for its flagship CK Gold Project.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.