1.01
Item 1.01 | Entry into a Material Definitive Agreement |
On September 2, 2025, Gold Resource Corporation (the “Company”) entered into a securities purchase agreement (the “SPA”) with certain investors providing for the purchase and sale of up to 25,315,960 shares of its common stock at a price of $0.45 per share (the “Shares”) in a registered direct offering, resulting in estimated total gross proceeds to the Company of approximately $11.4 million (the “Offering”). The Offering closed on September 8, 2025.
The Shares were sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (File No. 333-271913), including an accompanying prospectus, declared effective by the United States Securities and Exchange Commission (the “SEC”) on June 9, 2023. The Offering of the Shares was made only by means of a prospectus, including a prospectus supplement, that forms a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering has been filed with the SEC and is available on the SEC’s website located at www.sec.gov.
The Company intends to use approximately $6.4 million of the net proceeds of the Offering to prepay in full the principal amount (including accrued interest) of the loan (the “Loan”) under that certain Loan Agreement, dated as of June 26, 2025, by and among the Company, Don David Gold Mexico S.A. de C.V., the Company’s wholly owned Mexican subsidiary (the “Don David Gold Mine”), and Francisco Javier Reyes de la Campa and Jaluca Limited, as the lenders. The Company has the right to prepay the Loan, in whole or in part, at any time without penalty. The remaining proceeds from the Offering after prepayment of the Loan will be used for working capital and general corporation purposes, including to continue the development of the Three Sisters vein system at the Don David Gold Mine and to support progress on the prefeasibility study and the permitting process for the Back Forty Project in Michigan.
A copy of the opinion of Davis Graham & Stubbs LLP relating to the legality of the issuance and sale of the Shares in the Offering is attached as Exhibit 5.1 to this Current Report on Form 8-K.
The foregoing description of the securities purchase agreement is not complete and is qualified in its entirety by reference to the full text of the form of securities purchase agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
This Current Report on Form 8-K does not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties. The statements contained in this Current Report on Form 8-K that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this Current Report on Form 8-K, the words “plan,” “target,” “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the intended use of proceeds from the Offering. All forward-looking statements in this Current Report on Form 8-K are based upon information available to Gold Resource Corporation as of the date of this Current Report on Form 8-K, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this Current Report on Form 8-K. Forward-looking statements are subject to risks and uncertainties that may be found in
