United States Antimony Corporation Announces Closing of $14.3 Million Registered Direct Offering

Rhea-AI Summary

United States Antimony Corporation (NYSE:UAMY) announced the closing of a registered direct offering with institutional investors, raising approximately $14.3 million in gross proceeds. After fees, the net proceeds total $13.3 million. The company plans to allocate these funds for general corporate purposes, including infrastructure improvements at its operations in Mexico and Montana, a geochemical program at its Los Juarez property, and to retire some debt. The offering was facilitated by Roth Capital Partners.

Positive

• Raised net proceeds of approximately $13.3 million for capital improvements.
• Funds will enhance infrastructure at multiple operational sites.

Negative

• Dilution of existing shares due to the direct offering.

THOMPSON FALLS, MT / ACCESSWIRE / February 16, 2021 / United States Antimony Corporation (NYSE:UAMY), today announced that it closed its previously announced registered direct offering with certain institutional investors to purchase a total of approximately $14.3 million of its common stock.

Roth Capital Partners served as sole placement agent. After the placement agent fees and estimated offering expenses payable by the company, the company received net proceeds of approximately $13.3 million.

The Company intends to use the net proceeds from the offering for general corporate purposes and working capital, including to improve infrastructure at its Mexico and Montana antimony installations, to improve infrastructure at its Idaho zeolite operation, to fund a geochemical, geological and geophysical program at its Los Juarez property, to fund corporate governance expenses, and to retire certain indebtedness.

A shelf registration statement on Form S-3 (File No. 333-252193) relating to the shares of common stock issued in the registered direct offering was previously filed with the Securities and Exchange Commission (the "SEC") on January 19, 2021 and declared effective by the SEC on January 27, 2021. A prospectus supplement relating to and describing the terms of the registered direct offering has been filed with the SEC and is available on the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing the SEC's website, www.sec.gov.

About United States Antimony Corporation
US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony.

Safe Harbor / Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-K with the Securities and Exchange Commission.

Contact:
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
Phone: 406-827-3523
Fax: 406-827-3543
E-Mail tfl3543@blackfoot.net

SOURCE: United States Antimony Corporation

View source version on accesswire.com:
https://www.accesswire.com/630058/United-States-Antimony-Corporation-Announces-Closing-of-143-Million-Registered-Direct-Offering

FAQ

What was the purpose of the $14.3 million registered direct offering by UAMY?

The offering aims to fund general corporate purposes, infrastructure improvements, and retire certain debts.

Who was the placement agent for UAMY's offering?

Roth Capital Partners served as the sole placement agent for the registered direct offering.

How much net proceeds did UAMY receive from the offering?

United States Antimony Corporation received approximately $13.3 million in net proceeds after fees and expenses.

When was the offering announced by UAMY?

The offering was announced on February 16, 2021.