Dakota Gold Corp. Enters At-the-Market Offering Agreement with Sales Agents

On December 10, 2024, Dakota Gold Corp. announced that it has entered an Amended and Restated Equity Distribution Agreement with BMO Capital Markets Corp. and Canaccord Genuity LLC, acting as sales agents. Under this agreement, the company has the option to offer and sell shares of common stock, with an aggregate offering price of up to $50,000,000, from time to time through the Sales Agents acting as agents.

Per the terms outlined in the Distribution Agreement, the Sales Agents have committed to using their commercially reasonable efforts to sell all designated Common Stock as specified by the company. It has been agreed that the commission payable to the Sales Agents for these sales will be up to 3.0% of the gross offering proceeds for the Common Stock sold through this agreement.

Moreover, this Distribution Agreement comprises customary representations, warranties, indemnification, and contribution provisions, where both the Company and the Sales Agents have agreed to indemnify each other against specific liabilities, including those under the Securities Act of 1933. Both parties also retain the right to terminate the Distribution Agreement by providing written notice as stipulated in the contract.

The securities offerings will be registered under the Securities Act through the Company’s shelf registration statement on Form S-3 (File No. 333-266155), supplemented by a prospectus dated December 10, 2024, which details the sale of the Common Stock. The company retains the flexibility to sell Common Stock based on market conditions but is not obligated to make any sales.

It is essential to note that this description of the Distribution Agreement is not exhaustive, and the complete text of the Agreement can be referenced in Exhibit 1.1 filed alongside this report. Additionally, an opinion from Skadden, Arps, Slate, Meagher & Flom LLP regarding the validity of the securities issued under this Agreement is included as Exhibit 5.1.

Lastly, it is emphasized that this Current Report on Form 8-K does not serve as an offer to sell or a solicitation to buy the discussed securities. Moreover, no sale of such securities will occur in any jurisdiction where it would be deemed unlawful without prior registration or qualification under the relevant securities laws.

In compliance with the reporting obligations, the company has also included relevant financial statements and exhibits in this filing. This includes, among others, the Equity Distribution Agreement and the opinion of Skadden, Arps, Slate, Meagher & Flom LLP.

This information is provided to keep investors and stakeholders informed about Dakota Gold Corp’s recent developments in equity distribution arrangements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Dakota Gold’s 8K filing here.

Dakota Gold Company Profile

Dakota Gold Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold deposits. The company holds 100% interest in the Blind Gold, City Creek, Tinton, West Corridor, Ragged Top, Poorman Anticline, Maitland, South Lead/ Whistler Gulch, the Barrick Option, Richmond Hill and Homestake Paleoplacer Properties located in Homestake Mining District, South Dakota.