Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces that the Company will undertake a Reverse Stock Split of its Class A Common Stock ("Common Stock") at a ratio of 1-for-10 (the "Reverse Stock Split"). The Reverse Stock Split is expected to become effective immediately after the close of trading on the Nasdaq Capital Market (the "Nasdaq") on November 14, 2023 (the "Effective Date") and the Common Stock is expected to begin trading on the Nasdaq on a Reverse Stock Split-adjusted basis on November 15, 2023, under the new CUSIP number 44862P208.

"We have been pursuing various strategies to regain compliance with Nasdaq's minimum bid price requirement; however, given the timing of these strategies and current market conditions, we believe that implementing a reverse stock split is the most effective course of action to regain compliance at this juncture," stated Diane Garrett, President and CEO of Hycroft. "Ensuring our listing remains intact is of significant importance to us. We believe that by promptly addressing the uncertainty regarding our listing and alleviating the overhang on our share price associated with this uncertainty, we will be better positioned to maximize value for our existing shareholders, the Hycroft Mine, and future investors."

Stockholder approval for the Reverse Stock Split was obtained at the Company's annual meeting of stockholders on May 24, 2023. After careful consideration in light of current market conditions, the Company's Board of Directors approved the Reverse Stock Split ratio of 1-for-10. The Company believes maintaining its Nasdaq listing will situate Hycroft more favorably and potentially attract a broader group of institutional and retail investors. With a strong treasury of $106.9 million at the end of the third quarter of 2023, a world-class asset, a successful ongoing exploration program, and a highly experienced management team, the Company believes it is well-positioned to deliver value for its shareholders.

About the Reverse Stock Split

The Company's transfer agent, Continental Stock Transfer & Trust Company ("Continental"), will serve as the exchange agent for the Reverse Stock Split. Contact information can be found on the Company's website at www.hycroftmining.com/contact/transfer-agent/.

As a result of the Reverse Stock Split, every 10 pre-split shares of common stock outstanding will become one share of Common Stock.

Registered stockholders holding pre-Reverse Stock Split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-Reverse Stock Split shares. Those stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Stockholders holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Continental with instructions as soon as practicable after the Effective Date.

No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who otherwise would be entitled to receive fractional shares will receive a cash payment in lieu of such fractional shares.

The Reverse Stock Split will not affect the number of authorized shares of Common Stock, the par value of the Common Stock, or modify any rights or preferences of the shares of the Company's Common Stock. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company's outstanding equity awards and warrants, as applicable.

Additional information about the Reverse Stock Split can be found in Hycroft's definitive proxy statement filed with the U.S. Securities and Exchange Commission (the "SEC") on April 13, 2023, which is available on the SEC's website at www.sec.gov and on Hycroft's website at www.hycroftmining.com.

10 to 1, so here's hoping they do as well as the AMC reverse split. New CUSIP and everything!

https://finance.yahoo.com/news/hycroft-mining-announces-reverse-stock-120000731.html

WINNEMUCCA, Nev., Oct. 26, 2023 /PRNewswire/ -- Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or "the Company") announces that the Company will undertake a Reverse Stock Split of its Class A Common Stock ("Common Stock") at a ratio of 1-for-10 (the "Reverse Stock Split"). The Reverse Stock Split is expected to become effective immediately after the close of trading on the Nasdaq Capital Market (the "Nasdaq") on November 14, 2023 (the "Effective Date") and the Common Stock is expected to begin trading on the Nasdaq on a Reverse Stock Split-adjusted basis on November 15, 2023, under the new CUSIP number 44862P208