Golden Minerals Company (TSX: AUMN) (NYSE American: AUMN) is pleased to announce that it has closed its previously announced registered direct offering for the purchase and sale of an aggregate of 1,427,587 shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $1.45 per share (or common stock equivalents in lieu thereof) in a registered direct offering. In a concurrent private placement, the Company issued unregistered warrants to purchase up to 1,427,587 shares of common stock with an exercise price of $1.90 per share which are exercisable six months from the date of issuance and for a period of five years following initial exercise date.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds from the offering were approximately $2.1 million, prior to deducting placement agent’s fees and other offering expenses payable by Golden. Golden intends to use the net proceeds from the offering for working capital and other general corporate purposes.
The shares of common stock (and common stock equivalents) described above (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) described above were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-249218) that was filed with the Securities and Exchange Commission on October 1, 2020, and declared effective on October 14, 2020. The offering of the shares of common stock (or common stock equivalents in lieu thereof) was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering was filed with the SEC. Electronic copies of the prospectus supplement may be obtained on the SEC’s website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at firstname.lastname@example.org
The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Golden Minerals
Golden Minerals is a gold and silver producer based in Golden, Colorado. The Company is primarily focused on producing gold and silver from its Rodeo Mine, advancing its Velardeña and Yoquivo properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
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