Hycroft Mining Holding Corporation announced a non-brokered private placement of $60 million.
The private placement consists of 14,017,056 units priced at $4.2805 per unit.
Significant support for the placement comes from Eric Sprott through 2176423 Ontario Ltd. and Tribeca Global Natural Resources Ltd.
Private Placement Details
Consists of 14,017,056 units priced at $4.2805 per unit, generating $60 million in proceeds.
Major Subscribers
Eric Sprott's entity subscribes to around 66% of the placement, increasing his ownership position in Hycroft to 33%.
Silver Designation
Silver was designated as a critical mineral by the U.S. Government, enhancing its strategic importance.
Shareholder Commitment
Mr. Sprott's ongoing commitment and new support from Tribeca indicate confidence in Hycroft's growth potential.
- The private placement enables Hycroft to accelerate development activities at the Hycroft Mine and expand exploration drilling for high-grade silver systems.
- Silver's new status as a critical mineral, along with surging demand, positions Hycroft with significant value creation opportunities.
With the strong support from key investors and the new opportunities presented by silver's critical mineral designation, Hycroft Mining Holding Corporation is poised for enhanced growth and value creation in the mining sector.