US GoldMining updates stock offering capacity to $7.6 million

U.S. GoldMining Inc. (NASDAQ: USGO) filed a prospectus supplement to update its at-the-market stock offering program, according to a company filing.

The mining company can now sell up to $7.6 million worth of common stock through sales agents H.C. Wainwright & Co., LLC and co-agents under an existing sales agreement dated May 15, 2024. This amount excludes approximately $4.8 million in shares already sold under the program.

As of the filing date, the company's public float was valued at approximately $37.3 million, calculated based on 2,819,635 shares held by non-affiliates at $13.22 per share, the closing price on the Nasdaq Capital Market on September 26, 2025.

The prospectus supplement amends the original ATM prospectus dated May 28, 2024, which was part of the company's registration statement filed under Form S-3. The update reflects compliance with General Instruction I.B.6 of Form S-3, which limits the amount of securities a company can sell based on its public float.

U.S. GoldMining stated that no shares will be offered or sold in Canada under this prospectus supplement. The company indicated it may file additional prospectus supplements if it becomes eligible to sell more shares under the agreement in the future.

During the 12 months prior to the filing date, the company sold securities with an aggregate market value of approximately $4.8 million under the General Instruction I.B.6 provisions.

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