WINNEMUCCA, Nev., July 13,
2023 /PRNewswire/ -- Hycroft Mining Holding
Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company"), a gold and
silver development company that owns the Hycroft Mine in the
prolific mining region of Northern
Nevada, announces that it has been working with Shareholder
Intelligent Services, LLC ("ShareIntel") for several months to
review the trading of the Company's common stock in order to track,
identify, and monitor for potentially illegal short selling
activities and deploy solutions to help combat any such
activities.
To date, ShareIntel's analysis has identified reporting
imbalances in Hycroft's shares which may be the by-product of
non-compliant or abusive short selling activity.
Diane Garrett, President and CEO
commented, "Based on the findings of ShareIntel's analysis to date,
we are deeply concerned that Hycroft may have been the target of a
market manipulation scheme involving illegal short selling.
Hycroft's Board and management are committed to protecting our
investors and maximizing shareholder value, and we will take all
actions necessary to ensure Hycroft is not the target of market
manipulation. We will continue to work with ShareIntel to
combat potentially manipulative and egregious illegal short selling
and trading activities to help ensure fair market conditions."
"ShareIntel tracks and monitors critical broker-dealer and
shareholder movements", said David
Wenger, President and Chief Executive Officer of
ShareIntel. "We look forward to continuing efforts to help
Hycroft identify parties to potentially abusive and illegal naked
short selling, implement action plans to mitigate such activity and
help maximize shareholder ownership transparency."
About Shareholder Intelligence Services, LLC
Shareholder Intelligence Services, LLC or "ShareIntel", is a
compliance-driven Software-as-a-Service ("SAAS") provider, retained
by public companies to track shareholder ownership, monitor
critical broker-dealer and shareholder movement. This process
is managed through a proprietary patented web-based application
known as the "Data Repository Information Link" system,
DRIL-Down™. The ShareIntel solution empowers public companies
with unique analytical tools and provides actionable analytic
metrics to help identify abusive short selling, coordinate, and
monitor for regulatory compliance and provide solutions to the
client. For more information:
www.shareintel.com
About Hycroft Mining Holding Corporation
Hycroft is a US-based, gold, and silver company developing the
Hycroft Mine located in the world-class mining region of
Northern Nevada.
Diane R. Garrett,
President & CEO
Cautionary Note Regarding Forward-Looking Statements.
This news release contains "forward-looking statements" within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, Section 21E of the United States Securities
Exchange Act of 1934, as amended, or the United States Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical facts, included herein and public
statements by our officers or representatives, that address
activities, events or developments that our management expects or
anticipates will or may occur in the future, are forward-looking
statements, including but not limited to such things as future
business strategy, plans and goals, competitive strengths and
expansion and growth of our business. The words "estimate", "plan",
"anticipate", "expect", "intend", "believe" "target", "budget",
"may", "can", "will", "would", "could", "should", "seeks", or
"scheduled to" and similar words or expressions, or negatives of
these terms or other variations of these terms or comparable
language or any discussion of strategy or intention identify
forward-looking statements. Forward-looking statements address
activities, events, or developments that the Company expects or
anticipates will or may occur in the future and are based on
current expectations and assumptions. Forward-looking
statements include, but are not limited to (i) risks related to
changes in our operations at the Hycroft Mine, including risks
associated with the cessation of mining operations at the Hycroft
Mine; uncertainties concerning estimates of mineral resources;
risks related to a lack of a completed feasibility study; and risks
related to our ability to re-establish commercially feasible mining
operations; (ii) industry related risks including fluctuations in
the price of gold and silver; the commercial success of, and risks
related to, our exploration and development activities;
uncertainties and risks related to our reliance on contractors and
consultants; availability and cost of equipment, supplies, energy,
or reagents. The exploration target does not represent, and
should not be construed to be, an estimate of a mineral resource or
mineral reserve, as ranges of potential tonnage and grade (or
quality) of the exploration target are conceptual in nature; there
has been insufficient exploration of the relevant property or
properties to estimate a mineral resource; and it is uncertain if
further exploration will result in the estimation of a mineral
resource. These risks may include the following and the
occurrence of one or more of the events or circumstances alone or
in combination with other events or circumstances may have a
material adverse effect on the Company's business, cash flows,
financial condition, and results of operations. Please see our
"Risk Factors" set forth in our Annual Report on Form 10-K for the
year ended December 31, 2022, our Quarterly Report on Form
10-Q for the periods ended March 31, 2023, and other reports
filed with the SEC for more information about these and other
risks. You are cautioned against attributing undue certainty to
forward-looking statements. Although we have attempted to identify
important factors that could cause actual results to differ
materially from those described in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Although these forward-looking
statements were based on assumptions that the Company believes are
reasonable when made, you are cautioned that forward-looking
statements are not guarantees of future performance and that actual
results, performance, or achievements may differ materially from
those made in or suggested by the forward-looking statements
contained in this news release. In addition, even if our results,
performance, or achievements are consistent with the
forward-looking statements contained in this news release, those
results, performance or achievements may not be indicative of
results, performance or achievements in subsequent periods. Given
these risks and uncertainties, you are cautioned not to place undue
reliance on these forward-looking statements. Any forward-looking
statements made in this news release speak only as of the date of
those statements. We undertake no obligation to update those
statements or publicly announce the results of any revisions to any
of those statements to reflect future events or
developments.
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SOURCE Hycroft Mining Holding Corporation