Austin Gold Corp. (AUST) Announces April 25th IPO

Austin Gold Corp. (AUST) is planning to raise $13 million in an initial public offering on the week of April 25th, IPO Scoop reports. The company plans to issue 3,300,000 shares at $4.00 per share.

The company has a market-cap of $62.6 million.

Roth Capital Partners acted as the underwriter for the IPO and Pacific Century Securities was co-manager.

Austin Gold Corp. provided the following description of their company for its IPO: “We are a gold exploration company focused on gold targets and making district-scale gold discoveries in Nevada. In specific, we were formed for the purposes of drilling the Kelly Creek Project, a mineral exploration project located on the Battle Mountain-Eureka (Cortez) gold trend in Humboldt County, Nevada. Upon developing an understanding of the prospect of discovering deposits of precious or base metals on the property, we entered into the Kelly Creek Letter of Intent on May 29, 2020. Thereafter, we entered into the JV Agreement. As a result of the foregoing, the Kelly Creek Project became our material mineral exploration project. Nonetheless, we continue to consider other regional opportunities in the event the Kelly Creek Project does not yield favorable results, and in connection therewith we have acquired three other non-material mineral explorations projects. Our other projects are located on the Independence-Jerritt Canyon gold trend in Elko County, Nevada (the Lone Mountain Project), on the Carlin gold trend in Elko County, Nevada (the Miller Project), and in Nye County, Nevada situated in Oligocene volcanic rocks that are roughly the same age as those that host the large Round Mountain gold deposit (the Fourmile Basin Project). *Note: Net loss figure is in U.S. dollars, converted from net loss reported in Canadian dollars in the prospectus, for the 12 months that ended Sept. 30, 2021.  (Note: Austin Gold revised its IPO to 3.265 million shares – removing warrants from its previous terms of 3.0 million units – and cut the IPO price to $4.00 – the bottom of its previous $4-to-$6 price range – to raise $13.06 million, according to an S-1/A filing dated April 13, 2022. That change represented a 13 percent cut from the deal’s previously estimated proceeds of $15.0 million.) “.

Austin Gold Corp. was founded in 2020 and has 0 employees. The company is located at 1021 West Hastings Street, 9th Floor Vancouver, BC Canada V6C 0C3 and can be reached via phone at 604-644-6579 or on the web at http://www.austin.gold/.

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