Hycroft Announces Closing of $60 Million Private Placement

Core Viewpoint - Hycroft Mining Holding Corporation successfully closed a non-brokered private placement, raising gross proceeds of US$60 million, primarily to advance the Hycroft Mine and for working capital purposes [1][2]. Group 1: Private Placement Details - The private placement consisted of 14,017,056 units priced at $4.2805 per unit, with each unit comprising one common share and one-half common share purchase warrant [2]. - Each warrant is exercisable into one common share at a price of $6.00 per share for a period of 24 months, with an accelerator provision [2]. - The net proceeds will be used mainly for advancing the Hycroft Mine and general corporate purposes, with the company's unrestricted cash post-placement estimated at approximately $129 million [2]. Group 2: Investor Participation - Eric Sprott, through 2176423 Ontario Ltd., acquired 9,344,704 units for a total of $40 million, while Tribeca Global Natural Resources Ltd. acquired 4,438,734 units for $19 million [3]. - Following the private placement, Mr. Sprott beneficially owns approximately 33% of the outstanding shares, totaling about 17,535,528 common shares [2][3]. Group 3: Company Overview - Hycroft Mining Holding Corporation is focused on developing the Hycroft Mine, one of the largest precious metals deposits in northern Nevada, transitioning from oxide heap leaching to processing sulfide ore [6]. - The company is also engaged in exploration drilling to expand high-grade silver systems and unlock the mine's full potential [6].