US Gold raises $31.2 Million in private placement to advance CK gold project

U.S. Gold Corp. Chairman Luke Norman joined Steve Darling from Proactive to provide an update on the company’s financing activities following the successful closing of a private placement that raised approximately $31.2 million in gross proceeds. The financing represents a significant step forward as the company advances toward development of its flagship CK Gold Project in Wyoming.

Norman explained that the offering was priced based on the closing price of U.S. Gold’s common shares on Monday, December 15, 2025, which was $16.91 per share. The pricing reflects an approximate 4% discount to the market close, a structure designed to balance investor participation while minimizing dilution. The warrants issued in connection with the private placement are immediately exercisable and have a two-year term from the date of issuance, providing additional potential upside for participants.

The company intends to deploy the net proceeds strategically across several priorities. A primary focus will be funding initial development costs at the CK Gold Project, which has now entered the final stage of its Definitive Feasibility Study (DFS). In addition, funds may be allocated toward potential land acquisitions, further exploration across the company’s property portfolio, and general working capital to support ongoing operations.

Norman emphasized that U.S. Gold is moving “full steam ahead” with the CK Gold Project, highlighting that site preparation activities are already underway. As the DFS progresses toward completion, the company believes it is well positioned to transition from advanced study work into the early stages of project development.

With a strengthened balance sheet and capital in place, U.S. Gold Corp. expects 2026 to be a pivotal year as it works to de-risk the CK Gold Project, advance permitting and development planning, and create long-term value for shareholders.

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