U.S. Gold to sell 1.4M shares at $3.50 in registered direct offering

U.S. Gold announced that it has entered into a securities purchase agreement with certain investors, providing for the purchase and sale of 1.4M shares of common stock at a price of $3.50 per share in a registered direct offering and, in a concurrent private placement transaction, unregistered warrants to purchase 1.4M shares of common stock at an exercise price of $4.48 per share, resulting in total gross proceeds of approximately $4.9M. The warrants will be exercisable six months following the issuance and will expire five years following the initial exercise date. The closing of the sale of the offered securities is expected to take place on or about April 19, subject to the satisfaction of customary closing conditions.