U.S. Gold sells subsidiary
U.S. Gold Corp., a publicly traded U.S.-focused gold exploration and development company headquartered in Elko, sold a subsidiary, Dataram Memory Corp.
Dataram Memory Corp. develops, manufactures and markets computer add-in memory products for use with workstations, minicomputers and servers.
Since the U.S. Gold’s acquisition of Gold King Corp. in May 2017, the company shifted its focus to gold exploration and Dataram Memory Corp. was no longer its core business.
The net proceeds from the sale, when finally determined after deducting expenses associated with the legacy business and the sale, will be distributed, on a pro rata basis, to shareholders of record as of May 8, 2017.
Global Alliance Securities, LLC arranged for this transaction.
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