Golden Minerals Company (“Golden Minerals”, “Golden” or the “Company”) (NYSE American: AUMN and TSX: AUMN) is pleased to announce the pricing of its public offering of an aggregate of 6,000,000 shares of its common stock (or common stock equivalents in lieu thereof), Series A warrants to purchase up to 6,000,000 shares of common stock and Series B warrants to purchase up to 3,000,000 shares of common stock, at a public offering price of $0.70 per share of common stock (or common stock equivalent in lieu thereof) and accompanying warrants. The Series A warrants will have an exercise price of $0.70 per share, will be exercisable immediately and will expire five years after the initial exercise date, and the Series B warrants will have an exercise price of $0.70 per share, will be exercisable immediately and will expire 18 months after the initial exercise date. The offering is expected to close on or about November 8, 2023, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds from the offering are expected to be approximately $4.2 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 securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-274403) that was initially filed with the Securities and Exchange Commission (the “SEC”) on September 7, 2023, and declared effective on November 6, 2023. The offering the securities described above is being made only by means of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus, when available, 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 placements@hcwco.com
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 mining company based in Golden, Colorado. The Company is primarily focused on resuming production at its Velardeña Properties and advancing its Yoquivo property in Mexico, and, through partner-funded exploration, advancing its El Quevar silver property in Argentina. The Company is also focused on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding the Company’s public offering of common stock and Series A and B warrants and gross proceeds from the public offering. These statements are subject to risks and uncertainties, including risks and uncertainties related to market conditions and the satisfaction of closing conditions related to the proposed public offering. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
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