GoldMining Inc. Expands Capital-raising Efforts with Renewed ATM Program
VANCOUVER, BC, Dec. 20, 2024 /PRNewswire/ – GoldMining Inc. (the “Company” or “GoldMining”) GOLD GLDG has renewed its at-the-market equity program (the “ATM Program”), allowing the Company to issue up to US$50 million (or the equivalent in Canadian dollars) in common shares (the “Offered Shares”) to the public at its discretion. Shares will be sold at the market price prevailing at the time of the sale.
Sales Process and Agent Collaboration
The sale of Offered Shares will occur under an equity distribution agreement dated December 20, 2024 (the “Distribution Agreement”). A syndicate of agents led by BMO Nesbitt Burns Inc. and BMO Capital Markets Corp. will assist, including Canaccord Genuity, H.C. Wainwright & Co., LLC, Laurentian Bank Securities Inc., and Roth Capital Partners, LLC (collectively referred to as the “Agents”).
Intended Use of Proceeds
GoldMining plans to utilize the net proceeds from the ATM Program for exploration and development of its mineral properties. This includes completing minimum work programs, property payments, funding for future acquisitions, and general working capital.
Details of the Distribution Agreement
Sales will be conducted as “at-the-market distributions” according to National Instrument 44-102 – Shelf Distributions on various trading platforms such as the Toronto Stock Exchange and NYSE American. The Company is not obligated to sell any Offered Shares under this agreement. The agreement will end either when it has raised US$50 million (or the equivalent amount in Canadian dollars) or on December 24, 2025, whichever comes first.
Regulatory Compliance and Documentation
The ATM Program will take effect after filing a prospectus supplement related to the Company’s short form base shelf prospectus dated November 24, 2023, as well as a U.S. registration statement filed on November 28, 2023. Investors can access the documents on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov. The lead agent can provide copies upon request.
A Renewal of Previous Efforts
This renewed ATM Program replaces the previous equity initiative that began in November 2023 and was set to expire on December 31, 2024.
Contact Information in Canada
BMO Nesbitt Burns Inc.
Brampton Distribution Centre C/O
Attention: The Data Group of Companies
9195 Torbram Road
Brampton, Ontario L6S 6H2
Email: torbramwarehouse@datagroup.ca
Telephone: (905) 791-3151, ext. 4312
Contact Information in the United States
BMO Capital Markets Corp.
Attention: Equity Syndicate Department
151 W 42nd Street, 32nd Floor
New York, New York 10036
Email: bmoprospectus@bmo.com
This press release does not constitute an offer to sell or solicit offers to buy securities, nor will there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale is unlawful.
Overview of GoldMining Inc.
GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets across the Americas. Through its disciplined acquisition strategy, GoldMining has built a diversified portfolio, holding various resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company additionally owns about 21.5 million shares of Gold Royalty Corp. GROY, 9.9 million shares of U.S. GoldMining Inc. USGO, and 26.7 million shares of NevGold Corp. NAU. For more information, visit www.GoldMining.com.
Forward-looking Information
This news release contains forward-looking statements reflecting current views and expectations, including intended use of proceeds from the ATM Program and future share issuances. These statements are based on expectations, beliefs, assumptions, and forecasts about GoldMining’s business and market conditions.
GoldMining Inc. Issues Caution on Future Projections with ATM Program
In this news release, GoldMining Inc. shares important forward-looking statements regarding its activities and expectations. Such statements use terms like “estimates,” “plans,” and “anticipates,” signaling that these are predictions about future events. However, these projections are affected by a number of unknown factors, which means that actual results may vary significantly from what is expected. Investors should take note of several key uncertainties that could impact these forecasts.
Understanding the Risks Involved
Investors should be aware of the potential risks associated with GoldMining’s forecasts. The fulfillment of conditions necessary for the effectiveness of the ATM (At-the-Market) Program may not be met. Additionally, there is a chance that the Company might not sell any Offered Shares or that the total raising would fall short of the planned maximum amount. Management also enjoys considerable discretion on how to allocate any proceeds from the ATM Program.
Potential Hurdles Ahead
Other risks include possible delays in project timelines due to government regulations or unforeseen issues. The exploration and development of mineral properties inherently carry risks, including fluctuating metal prices. There is also the possibility that upcoming studies may not align with GoldMining’s expectations. Various other uncertainties—such as government regulations, environmental issues, and costs related to financing—could further influence the Company’s outcomes.
Proceed with Caution
For additional details, investors can refer to GoldMining’s Annual Information Form for the year ended November 30, 2023, along with other documents filed with Canadian securities regulators and the U.S. Securities and Exchange Commission. It is crucial for readers not to place excessive trust in forward-looking statements and to recognize that there are no guarantees these predictions will hold true. GoldMining does not commit to publicly updating any forward-looking information unless required to do so by law.
View original content: GoldMining Announcements
SOURCE GoldMining Inc.
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