Gold Resource Corporation (NYSE American: GORO) has announced a registered direct offering of up to 15,625,000 shares of its common stock at US$0.16 per share, aiming to raise approximately US$2.5 million in gross proceeds.

The company expects to close the sale within the next 10 days, subject to customary closing conditions.

The shares are being offered and sold under a shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (SEC) on June 9, 2023.

A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and made available on their website.

Gold Resource Corporation, a gold and silver producer with operations centred on the Don David Gold Mine in Oaxaca, Mexico, plans to use the proceeds to support its ongoing projects and enhance its financial position.

The company’s focus includes unlocking the potential of its existing infrastructure and developing the Back Forty Project in Michigan, USA.

This announcement comes as Gold Resource Corporation seeks to strengthen its market position in the precious metals sector.

The offering price of US$0.16 per share represents current market conditions and the company’s recent performance.

Investors and interested parties should note that this press release does not constitute an offer to sell or a solicitation to buy these securities.

The sale of these securities is subject to registration or qualification under applicable state and jurisdictional securities laws.