Gold exploration and development company US Gold has closed the acquisition of Nevada-based Northern Panther Resource Corporation in an all-share transaction pursuant to a merger agreement.
Northern Panther’s principal asset is the Challis Gold exploration project – an exploration project in Idaho – and it also has $2.5-million in cash. Concurrently with the closing of the merger, several Northern Panther shareholders have led a concurrent financing in which 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.