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US Gold Mines (NYSEMKT:USGO), an offshoot of Canadian GoldMining (NYSE:GLDG), has updated terms for a proposed $20 million IPO, expected to take place later this week.
The Alaska-based miner plans to offer 2 million units priced at $10 per unit. Every Unit would consist of one share plus a warrant to purchase one share for $13.
The Company intends to list its shares on the Nasdaq under the symbol USGO. HC Wainwright and BMO Capital Markets are acting as joint bookrunners, according to the filing.
US GoldMining was formed by GoldMining in February 2022 to focus on the development of its Whistler gold-copper exploration project in the Yentna Mining District outside of Anchorage, Alaska.
US GoldMining will be GoldMining’s second spin-off in recent years. The mining assembly founded Gold Royalty (GROY) in 2020, which later raised $90 million through an IPO in March 2021.
For more information on US gold mining, see Donovan Jones’ US GoldMining Aims for US IPO Investment.
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