WINNEMUCCA, Nev., June 22, 2020 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (NYSE:PZG) (“Paramount” or the “Company”) announced today that it has commenced a non-brokered registered direct offering (“RD”) of shares to certain US based and other eligible investors. Concurrent to the RD, the Company has engaged Canaccord Genuity Corp. and Cantor Fitzgerald Canada Corporation as agents for a Canadian best efforts offering for minimum aggregate gross proceeds of US$3 million (the “Offerings”).
Closing of the Offerings is anticipated to occur on or about June 30, 2020, subject to the satisfaction of customary closing conditions, including approval of the NYSE American stock exchange.
Proceeds from the Offerings will be used primarily to advance the ongoing permitting of the Company’s high-grade Grassy Mountain gold project in eastern Oregon and for general corporate purposes.
The Offerings are being made in the United States pursuant to a preliminary prospectus supplement and the accompanying base prospectus under the Company’s effective shelf registration statement on Form S-3 (File No. 333-218295) that was declared effective by the United States Securities and Exchange Commission (the “SEC”) on June 8, 2017 and in Canada pursuant to the Company’s preliminary short form prospectus filed with the Ontario Securities Commission on June 22, 2020. Copies of these documents and the final prospectus supplement and the final short form prospectus will be available under the Company’s profiles at www.sec.gov and www.sedar.com, respectively.
Canadian investors may also obtain the final short form prospectus for the Offerings, when available, by contacting Canaccord Genuity Corp. attention: Syndication Brookfield Place, 161 Bay Street, Suite 3100, P.O. Box 516 Toronto, ON M5J 2S1, Email: email@example.com, or Cantor Fitzgerald Canada Corporation, attention: Equity Capital Markets, 181 University Avenue, Suite 1500, Toronto, ON, M5H 3M7, email: firstname.lastname@example.org
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer to buy the securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance.
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