- Well known and highly respected Nevada exploration geologist Dave Mathewson joins US Gold Corp.'s seasoned team of experts in mining, engineering, and operations planning and development
- Founder of Gold Standard Ventures to Head Company's Exploration Program
PRINCETON, N.J., June 28, 2016 /PRNewswire/ -- Dataram Corporation (NASDAQ: DRAM), today announced that its acquisition target US Gold Corp. ("USGC"), has engaged Nevada exploration geologist Dave Mathewson to join the company as Vice President, Lead Geologist and Head of Exploration for its Keystone Project, located in one of the world's most highly prospective mineral trends.
Dave Mathewson is a well-known and highly respected Nevada geologist with more than 35 years of continually demonstrated gold exploration experience in Nevada. Notable discoveries made while Head of Newmont Nevada's Exploration team from 1989 through 2001 include: Tess, Northwest Rain, Saddle and South Emigrant in the Rain mining district. From 1999-2001 the Mathewson-led team made important deposit extension discoveries at Newmont's Gold Quarry and Mike deposits. Most recently his work at Gold Standard Ventures led to the consolidation of the Railroad-Pinion district and the North Bullion and Bald Mountain discoveries. Before Gold Standard Ventures, Dave was VP of Exploration at Tone Resources, which was acquired by McEwen Mining.
"Dataram's acquisition target, US Gold, continues to assemble an experienced and technically proficient team of junior gold exploration and mining experts, which now includes Dave Mathewson," says Dave Moylan, Dataram's Chairman and Chief Executive Officer. "Dave is a strong addition to the US Gold team and brings more than 35 years of exploration experience in Nevada. He is a well-known and respected exploration geologist who is credited with many discoveries, and one of a handful of world-class geologists that historically finds new gold deposits. Dave's enthusiasm for Nevada and the Keystone project is very exciting for the Dataram and US Gold Corp. teams. In addition, we look forward to working with the entire US Gold Corp. team, which consists of a seasoned team of experts in mining, engineering, and operations planning and development. Their deep industry knowledge and sector expertise will help to advance the exploration program."
Dave Mathewson joins USGC's already impressive, high-caliber management team and board of directors, which includes David Rector and Tim Janke. Mr. Rector is USGC's Chief Operating Officer and has more than 30 years of general management experience. He has held numerous officer and director positions with natural resource companies that include Pershing Gold Corp, formerly known as Sagebrush Gold Ltd. of which he was co-founder, and Valor Gold Corp. Mr. Janke is a seasoned mining professional with nearly four decades of experience in mining engineering and operations, with a proven track record in junior mining companies. Tim was formerly Chief Operating Officer for AuEx Ventures, Inc. where he was responsible for operations planning and development of the Long Canyon Project. Tim also has extensive Nevada operational experience including General Manager at the Marigold, Florida Canyon, Ruby Hill, and Pinson mines as well as Special Projects Engineer at the Round Mountain Mine.
Dataram's acquisition target, US Gold Corp., is a U.S. focused junior gold exploration and development company which controls the Copper King Project, an advanced stage gold exploration project based in Wyoming, owns certain mining leases and other mineral rights in the Silver Crown Mining District of southeast Wyoming, and owns a large package of mining claims referred to as the "Keystone Project," located on the Cortez Gold Trend in Eureka County, Nevada.
Dataram and USGC entered into an Agreement and Plan of Merger on June 13, 2016 pursuant to which and if completed, Dataram will acquire 100% of USGC and its subsidiaries. The closing of the merger is subject to usual and customary conditions, including completion of an audit and approximately $4 million in cash. The Agreement and Plan of Merger can be examined on the SEC Website www.sec.gov and has been filed as an exhibit to the Company's current report on Form 8-K filed June 13, 2016. There can be no assurance the terms and conditions of the Merger will be satisfied or the Merger will be completed. The Merger is further subject to approval of the shareholders of the Company.
About Dataram Corporation
Dataram is a leading independent manufacturer of memory products and provider of performance solutions that increase the performance and extend the useful life of servers, workstations, desktops and laptops sold by leading manufacturers such as Dell, Cisco, Fujitsu, HP, IBM, Lenovo and Oracle. Dataram's memory products and solutions are sold worldwide to OEMs, distributors, value-added resellers and end users. Additionally, Dataram manufactures and markets a line of Intel Approved memory products for sale to manufacturers and assemblers of embedded and original equipment. 70 Fortune 100 companies are powered by Dataram. Founded in 1967, the Company is a US based manufacturer, with presence in the United States, Europe and Asia. For more information about Dataram, visit www.dataram.com.
The information provided in this press release may include forward-looking statements relating to future events, such as the development of new products, pricing and availability of raw materials or the future financial performance of the Company, the pending acquisition of U.S. Gold Corp., and any anticipated benefits of the merger, and the success of US Gold with respect to any of its exploration activities. Actual results may differ from such projections and are subject to certain risks including, without limitation, risks arising from: changes in the price of memory chips, changes in the demand for memory systems, increased competition in the memory systems industry, order cancellations, delays in developing and commercializing new products, risks related to U.S. Gold faced by junior exploration companies generally engaged in pre-production activities to include, among other things, the inability to obtain external financing to fund operations, planned exploration, permit modifications or to maintain property rights; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for planned production, exploration and other activities; general economic conditions and conditions affecting the industries in which US Gold operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; risks of junior exploration and pre-production activities; maintenance of important business relationships; and other factors described in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including the Risk Factors with respect to U.S. Gold contained in the Current Report on Form 8-K filed on June 13, 2016, filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company does not assume any obligations to update any of these forward-looking statements.
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SOURCE Dataram Corporation
Released June 28, 2016