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Hycroft Mining Announces US$60 Million Non-brokered Private Placement Priced At-The-Market Under Nasdaq Rules
Silver Designated a Critical Mineral by the U.S. Government WINNEMUCCA, Nev., Sept. 2, 2025 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("
About this update from Hycroft Mining Holding Corporation
[{"type":"text","content":" Silver Designated a Critical Mineral by the U.S. Government WINNEMUCCA, Nev., Sept. 2, 2025 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) (\"Hycroft\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Private Placement\"), priced at-the-market under Nasdaq rules, consisting of 14,017,056 units (\"Units\") at a price of U.S. $4.2805 per Unit for aggregate proceeds of U.S. $60 million. 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 at a price of U.S. $6.00 per share for a period of 24 months with an accelerator provision. The Private Placement is being primarily subscribed to by Eric Sprott through 2176423 Ontario Ltd., a corporation beneficially owned by him (approximately 66% of the placement) and approximately 34% of the placement is being subscribed to by Tribeca Global Natural Resources Ltd. (\"Tribeca\"). Upon closing, Mr. Sprott's beneficial ownership position in Hycroft increases from approximately 21% to 33%, and Tribeca will own approximately 8%. Diane Garrett, President and CEO, stated: \"We are very pleased with the strong support for Hycroft by Mr. Sprott and Tribeca. Mr. Sprott has been a valued supporter of the Company for several years. His ongoing commitment has been instrumental to the Company's advancement and enables us to accelerate development activities at the Hycroft Mine and continue exploration drilling to expand the two new high-grade silver systems. We welcome our newest shareholder, Tribeca, and we look forward to working closely with them to continue creating value at Hycroft. The new silver growth story at Hycroft is taking shape at a pivotal moment - silver prices have reached 15-year highs and silver was recently designated as a critical mineral by the U.S. Government, elevating its status from a traditional precious and industrial metal to a strategic resource vital for national security and the economy. This reclassification was prompted by the surging industrial demand for silver and concerns about the ability of global supply to meet that growing demand. Hycroft, among the world's largest gold and silver deposits, recentl...