Business
Paramount Gold Nevada Corp. Closes $3 Million Equity Financing
WINNEMUCCA, Nev., July 16, 2018 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) ("Paramount” or “the Company”) announced today that it has c
About this update from Paramount Gold Nevada Corp.
[{"type":"text","content":" WINNEMUCCA, Nev., July 16, 2018 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE American:PZG) (\"Paramount” or “the Company”) announced today that it has closed the previously announced (press release – June 25, 2018) non-brokered private placement funding of common stock and warrants (the “Transaction”) with accredited investors. The Company issued 2,400,000 units at $1.25 per unit for aggregate proceeds of $3,000,000. Each unit consists of one share of common stock and one warrant to purchase one-half of a share of common stock. Each warrant has a two-year term and is exercisable at the following exercise prices: in the first year at $1.30 per share and in the second year at $1.50 per share. There were no commissions or underwriting fees paid in connection with the Transaction. Proceeds from the Transaction will be used primarily to advance the mine permitting process for the proposed underground mine at Grassy Mountain. Other uses of proceeds will include an exploration program of several high priority targets which are in close proximity to Grassy Mountain and for general corporate purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the Transaction have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws. After giving effect to the Transaction, the number of shares of Paramount’s Common Stock issued and outstanding is 25,474,954. About Paramount Gold Nevada Corp. Paramount Gold Nevada is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account. Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 9,300 acres located on private and BLM land in Malheur County, Oregon...