US Gold Purchases Northern Panther
Concurrently with the closing of the merger, several Northern Panther shareholders led a financing where the company received subscriptions for shares of its preferred stock and warrants up to $5.5 million, bringing a total of up to $8 million in additional capital to the company. Northern Pantherís Challis Gold project provides U.S. Gold Corp. with its newest exploration project, located in Idaho.
The founding group of Northern Panther has significant experience in growing mining companies with Challis Gold being a high-priority drill-ready target in a premier and growing U.S. gold district, the company said. Shareholders include George Bee, a mining industry professional with more than 30 years of experience. Most recently serving as the president, CEO and director of Andina Minerals. Robert Schafer, who has more than 40 years of exploration and mergers and acquisition experience in both the junior and senior mining sectors, is also a shareholder.