Canadian miner Austin Gold files for $13M US IPO

Canadian gold miner Austin Gold (AUST) has filed to raise $13.2M through an initial public offering on the US market.

Austin Gold said in a filing that it plans to offer 3.3M shares priced at $4 per share. Underwriters will be granted a 30-day option to buy up to 490K additional shares at the public price.

The company has applied to list its shares on NYSE under the symbol AUST. Roth Capital is serving as lead bookrunner on the deal.

Austin Gold said it plans to use proceeds from the deal for property exploration and maintenance and for general corporate purposes. The company’s activities have been focused on properties located in Nevada.

If the underwriter’s option is exercised in full, Austin Gold expects to receive net proceeds of approximately $13.7M from the deal.

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