# EDGAR Filing Document

**Accession Number:** 0001718405
**File Stem:** 0001493152-25-012587
**Filing Date:** 2025-9
**Character Count:** 188591
**Document Hash:** f7a9dcea761ac9eec94baa449751e24c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-012587.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001493152-25-012587

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20250902

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HYCROFT MINING HOLDING CORP
- **CENTRAL INDEX KEY:** 0001718405
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 822657796
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38387
- **FILM NUMBER:** 251287683

**BUSINESS ADDRESS:**
- **STREET 1:** 4300 WATER CANYON ROAD
- **STREET 2:** UNIT 1
- **CITY:** WINNEMUCCA
- **STATE:** NV
- **ZIP:** 89445
- **BUSINESS PHONE:** 7753040260

**MAIL ADDRESS:**
- **STREET 1:** 4300 WATER CANYON ROAD
- **STREET 2:** UNIT 1
- **CITY:** WINNEMUCCA
- **STATE:** NV
- **ZIP:** 89445

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mudrick Capital Acquisition Corp
- **DATE OF NAME CHANGE:** 20171002

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **<u>September 2, 2025</u>**

**<u>HYCROFT MINING HOLDING CORPORATION</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38387** | **82-2657796** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

---

| | |
|:---|:---|
| **P.O. Box 3030**<br> **Winnemucca, Nevada** | **89446** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code **<u>(775) 304-0260</u>**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A common stock, par value $0.0001 per share | HYMC | The Nasdaq Stock Market LLC |
| Warrants to purchase Common Stock | HYMCL | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement**

On September 2, 2025, Hycroft Mining Holding Corporation (the "Company") entered into securities purchase agreements (the "Purchase Agreements") with three accredited investors (the "Buyers") for the purchase and sale of, subject to customary closing conditions, 14,017,056 units of the Company (the "Units") at a purchase price of $4.2805 per Unit pursuant to a non-brokered private placement (the "Private Placement"). Each Unit consists of one share of Class A common stock, par value of $0.0001 per share, of the Company ("Common Stock") and one-half of one common stock purchase warrant (each whole warrant, a "Warrant"), for an aggregate of 14,017,056 shares of Common Stock and Warrants to purchase an aggregate of 7,008,528 shares of Common Stock. The gross proceeds of the Private Placement are anticipated to be approximately $60,000,000. The Private Placement is subject to the satisfaction of customary closing conditions, with the closing anticipated to occur by September 10, 2025.

Each Warrant is exercisable to purchase one share of Common Stock of the Company at a price of $6.00 per share. The Warrants will have a two-year exercise period, and are subject to mandatory exercise in the event that, during such two-year period, the volume weighted average price of the Common Stock has been at least $8.00 per share, subject to adjustment, for a period of at least 20 trading days within the 30 trading day period ending on the third business day prior to the date on which notice of the redemption is given, as further detailed in the Warrant.

The Company intends to use the proceeds of the Private Placement to fund advancement of its Hycroft Mine and for working capital and general corporate purposes.

The Units (including the shares of Common Stock and Warrants forming a part of the Units) were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D promulgated thereunder.

Upon the closing, the Company will enter into a registration rights agreement (the "Registration Rights Agreement") pursuant to which the Company will agree to file one or more registration statements with the SEC covering the resale of the shares of Common Stock and the shares of Common Stock issuable upon exercise of the Warrants.

The Purchase Agreements, Warrants, and Registration Rights Agreement contain customary representations, warranties, covenants, indemnification provisions, and remedies for transactions of this type. Either the Company or Buyers may terminate the Purchase Agreements prior to closing under certain conditions, including mutual consent, breach by the other party, failure to satisfy closing conditions, or if the closing has not occurred by September 10, 2025, subject to certain exceptions.

The foregoing descriptions of the Purchase Agreements, Warrants, and Registration Rights Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the form of Purchase Agreement, the form of Warrant, and the form of Registration Rights Agreement which are filed as Exhibits 10.1, 4.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

**Item 3.02. Unregistered Sales of Equity Securities**

The applicable information set forth in Item 1.01 of this Current Report is incorporated by reference in this Item 3.02. Upon the closing of the Private Placement, the Units (including the shares of Common Stock and Warrants forming part of the Units) will be issued without prior registration in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act and Regulation D thereunder.

**Item 7.01. Regulation FD Disclosure.**

On September 2, 2025, the Company issued a press release announcing the Private Placement. A copy of the press release is attached hereto as Exhibit 99.1.

The information included in this Item 7.01, including Exhibit 99.1, furnished herewith, shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01. Financial Statement and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 4.1 | [Form of Warrant](ex4-1.htm) |
| 10.1 | [Form of Securities Purchase Agreement, dated September 2, 2025](ex10-1.htm) |
| 10.2 | [Form of Registration Rights Agreement](ex10-2.htm) |
| 99.1 | [Press Release, dated September 2, 2025](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: September 3, 2025 | **Hycroft Mining Holding Corporation** | **Hycroft Mining Holding Corporation** |
|  | By: | */s/ Rebecca A. Jennings* |
|  |  | Rebecca A. Jennings |
|  |  | Senior Vice President and General Counsel |

---

## Exhibit 4.1

**Exhibit 4.1**

**NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.**

**COMMON STOCK PURCHASE WARRANT**

**Hycroft Mining Holding Corporation**

**Holder: [ ]**

---

| | |
|:---|:---|
| **Warrant Shares: [ ]** | **Issue Date: September [___], 2025** |

---

THIS COMMON STOCK PURCHASE WARRANT (the "Warrant") certifies that, for value received, the holder as named above (the "Holder") is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the Issue Date as set forth above (the "Issue Date") and on or prior to 5:00 p.m. (Eastern time) on the two year anniversary of the Issue Date (the "Termination Date") but not thereafter, to subscribe for and purchase from Hycroft Mining Holding Corporation, a Delaware corporation (the "Company"), up to the number of shares of Class A common stock, par value $0.0001 per share (the "Common Stock") of the Company as set forth above (as subject to adjustment hereunder, the "Warrant Shares"), and is required to purchase such Warrant Shares in certain circumstances as set forth herein. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in ‎Section 2(c), subject to adjustment as set forth herein. This Warrant is being issued to the Holder pursuant to the Securities Purchase Agreement by and between the Company and the Holder, dated as of September 2, 2025, as of 3:00 p.m. Eastern time (the "SPA") and is subject to the terms and conditions thereof.

<u>Section 1</u>. <u>Definitions</u>. Capitalized terms used herein without definition shall have the meanings given in the SPA. In addition to the other terms defined herein, for purposes herein the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and the Holder may be referred to herein individually as a "Party" and collectively as the "Parties".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Securities Act" means the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Trading Day" means any day on which the Common Stock is traded or available for trading on the Trading Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Trading Market" means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "Transfer Agent" means the Company's transfer agent for the Common Stock as in place from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "VWAP" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date, if determined prior to 4:02 p.m. (New York City Time)) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the OTC Bulletin Board is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the "Pink Sheets" published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Company and the Holder, the fees and expenses of which shall be paid by the Company.

<u>Section 2</u>. <u>Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Elective Exercise of Warrant</u>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Issue Date and on or before the Termination Date (the "Exercise Period") by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail with return receipt requested (or e-mail attachment to an e-mail with return receipt requested) of the Notice of Exercise in the form annexed hereto (the "Notice of Exercise"). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in ‎‎‎Section 2(d)(i)) following the date of exercise as aforesaid, the Holder shall deliver to the Company the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer pursuant to wire instructions provided by the Company or cashier's check drawn on a United States bank. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has exercised the rights to purchase all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation together with the final Notice of Exercise as delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases, and the records of the Company shall be deemed controlling in the absence of manifest error. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this ‎Section 2(a), following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Required Exercise of Warrant</u>.<u> </u>In the event that, at any time during the Exercise Period, the VWAP of the Common Stock has been at least $8.00 per share (subject to adjustment as set forth in ‎Section 3, the "Target Price") for a period of at least twenty (20) Trading Days within the thirty (30) Trading Day period ending on the third Business Day prior to the date on which notice of the redemption is given and provided that the redemption is given at such time, the Company shall so inform the Holder and the Holder shall be required to exercise this Warrant in full, to the extent not previously exercised in full (a "Required Exercise"). In the event that the Required Exercise is applicable, the Parties shall reasonably cooperate to determine and agree on the timing for the completion thereof. All applicable provisions relating to exercise of this Warrant as set forth in ‎Section 2(a) shall similarly apply to any Required Exercise, and provided that the delivery of the Notice of Exercise by Holder in such case shall be required and shall not be at the election of the Holder. The Holder acknowledges and agrees that in the event that Holder does not comply with the provisions of this ‎Section 2(b), the Company shall have the right to seek specific performance hereof, as set forth in the SPA, and the right to pursue such other remedies as available to the Company pursuant to applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exercise Price</u>. The exercise price per share of Common Stock under this Warrant shall be $6.00, subject to adjustment hereunder (the "Exercise Price").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Mechanics of Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Delivery of Warrant Shares Upon Exercise</u>. The Company shall cause the Warrant Shares purchased
 hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account
 of the Holder's or its designee's balance account with The Depository Trust Company
 through its Deposit or Withdrawal at Custodian system ("DWAC") if the Company
 is then a participant in such system and either (A) there is an effective registration statement
 permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder
 or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale
 limitations pursuant to Rule 144, and otherwise by physical delivery of a certificate, registered
 in the Company's share register in the name of the Holder or its designee, for the
 number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the
 address specified by the Holder in the Notice of Exercise by the date that is the earliest
 of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise,
 (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and
 (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery
 to the Company of the Notice of Exercise (such date, the "Warrant Share Delivery Date").
 Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes
 to have become the holder of record of the Warrant Shares with respect to which this Warrant
 has been exercised, irrespective of the date of delivery of the Warrant Shares, provided
 that payment of the aggregate Exercise Price is received within the earlier of (i) two (2)
 Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period
 following delivery of the Notice of Exercise. As used herein, "Standard Settlement
 Period" means the standard settlement period, expressed in a number of Trading Days,
 on the Trading Market as in effect on the date of delivery of the Notice of Exercise.

(ii) <u>Delivery of New Warrant Upon Partial Exercise</u>. If this Warrant shall have been exercised in part,
 the Company shall, at the request of a Holder and upon surrender of this Warrant certificate,
 at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing
 the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant,
 which new Warrant shall in all other respects be identical with this Warrant.

(iii) <u>No Fractional Shares or Scrip</u>. No fractional shares or scrip representing fractional shares
 shall be issued upon the exercise of this Warrant. As to any fraction of a share which the
 Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at
 its election, either pay a cash adjustment in respect of such final fraction in an amount
 equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

(iv) <u>Charges, Taxes and Expenses</u>. Issuance of Warrant Shares shall be made without charge to the Holder
 for any incidental expense of the Company in respect of the issuance of such Warrant Shares,
 all of which expenses shall be paid by the Company, and such Warrant Shares shall be issued
 in the name of the Holder or in such name or names as may be directed by the Holder; provided,
 however, that, subject to the terms and conditions herein, in the event that Warrant Shares
 are to be issued in a name other than the name of the Holder, this Warrant when surrendered
 for exercise shall be accompanied by the Assignment Form attached hereto duly executed by
 the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient
 to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer
 Agent fees required for same-day processing of any Notice of Exercise and all fees to the
 Depository Trust Company (or another established clearing corporation performing similar
 functions) required for same-day electronic delivery of the Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Concerning the Warrant Shares</u>. The Warrant Shares may not be sold or transferred unless: (i) such Warrant Shares are sold pursuant to an effective registration statement under the Securities Act or (ii) the Company and its transfer agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope reasonably customary for opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration (such as Rule 144 or a successor rule) ("Rule 144"); or (iii) such Warrant Shares are transferred to an "affiliate" (as defined in Rule 144) of the Holder who agrees to sell or otherwise transfer the shares only in accordance with this ‎Section 2(e) who is an accredited investor (as defined in Rule 501 under Regulation D promulgated pursuant to the Securities Act). Any restrictive legend on any certificates representing shares of Common Stock issuable upon exercise of this Warrant shall be removed and the Company shall issue to the Holder a new certificate therefore free of any transfer legend if the Company or its transfer agent shall have received an opinion of counsel from the Holder's counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the effect that (i) a public sale or transfer of such Warrant Shares may be made without registration under the Securities Act, which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) that such Warrant Shares are registered for sale by the Holder under an effective registration statement filed under the Securities Act; or otherwise may be sold pursuant to an exemption from registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Fundamental Transaction</u>. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a "Fundamental Transaction"), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the "Alternate Consideration") receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the "Successor Entity") to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this ‎‎Section 2(f) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the "Company" shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Reservation of Shares</u>. The Company covenants that during the period that this Warrant may be exercised, the Company will reserve from its authorized and unissued Common Stock a number of shares of Common Stock equal to the number of Warrant Shares then issuable on exercise of this Warrant, free from preemptive rights, to provide for the issuance of Warrant Shares upon the full exercise of this Warrant.

<u>Section 3</u>. <u>Certain Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Stock Splits</u>. If any time while this Warrant is outstanding, the Company effects a forward split or reverse split of the Common Stock, the number of Warrant Shares shall be appropriately adjusted, with any partial resulting Warrant Share being rounded up to the next nearest whole number, and the Exercise Price shall be proportionately adjusted such that the aggregate Exercise Price payable hereunder shall remain unchanged, and the Target Price shall be appropriately adjusted. By way of example and not limitation, (i) in the event that the Company effects a two-for-one forward split of the Common Stock, wherein each issued and outstanding share of Common Stock is converted into two shares of Common Stock, the number of Warrant Shares shall be increased by 100%, the Exercise Price shall be reduced by 50%, and the Target Price shall be reduced by 50%; and (ii) in the event that the Company effects a one-for-two reverse split of the Common Stock, wherein each two issued and outstanding shares of Common Stock are converted into one share of Common Stock, the number of Warrant Shares shall be reduced by 50%, the Exercise Price shall be increased by 100% and the Target Price shall be increased by 100%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Calculations</u>. All calculations under this ‎‎Section 3 shall be made to the nearest cent or the nearest 1/100<sup>th</sup> of a share, as the case may be. For purposes of this ‎Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Notice to Holder of Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant to any provision of this ‎Section 3, the Company shall promptly deliver to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

<u>Section 4</u>. <u>Transfer of Warrant; Legend</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Transfer or Assignment</u>. Neither this Warrant nor any right, title or interest herein may be assigned or transferred by the Holder to any other Person, whether by operation of law or otherwise, without the prior written approval of the Company, to be given or withheld in the sole discretion of the Company, and any such attempted transfer in violation of such limitation shall be null and void and of no force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Legends</u>. Any legend required by the securities laws of any state to the extent such laws are applicable to the Warrant Shares represented by the certificate so legended shall be included on any certificates representing the Warrant Shares. Holder also understands that the Warrant Shares may bear the following or a substantially similar legend:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE NOT SET FORTH HEREIN.

<u>Section 5</u>. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Rights as Stockholder Until Exercise; No Settlement in Cash</u>. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in ‎Section 2. In no event shall the Company be required to net cash settle an exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Entire Agreement</u>. This Warrant and the SPA set forth the entire understanding of the Parties with respect to the subject matter hereof and supersede any and all prior agreements and understandings of the Parties concerning the transactions as set forth herein, and shall not be modified or affected by any offer, proposal, statement or representation, oral or written, made by or for any Party in connection with the negotiation of the terms hereof, and may be modified only by instruments signed by the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Saturdays, Sundays, Holidays, etc</u>. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Notices</u>. All notices under this Warrant shall be in writing and shall be given in accordance with the provisions of the SPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>No Waiver</u>. No waiver of any provision of this Warrant shall be effective unless it is in writing and signed by the Party against whom it is asserted, and any such written waiver shall only be applicable to the specific instance to which it relates and shall not be deemed to be a continuing or future waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Headings</u>. The article and section headings contained in this Warrant are inserted for convenience only and shall not affect in any way the meaning or interpretation of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Governing Law; Etc</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) This
 Warrant and any and all claims, proceedings or causes of action relating to this Agreement
 or arising from this Warrant or the transactions contemplated herein, including, without
 limitation, tort claims, statutory claims and contract claims, shall be interpreted, construed,
 governed and enforced under and solely in accordance with the substantive and procedural
 laws of the State of Delaware, in each case as in effect from time to time and as the same
 may be amended from time to time, and as applied to agreements performed wholly within the
 State of Delaware.

(ii) SUBJECT
 TO THE PROVISIONS OF THE SPA, ANY
 LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS WARRANT OR THE TRANSACTIONS
 CONTEMPLATED HEREIN SHALL BE INSTITUTED SOLELY IN THE STATE OF NEVADA COURTS OR THE FEDERAL
 COURTS OF THE UNITED STATES WITH JURISDICTION IN Humboldt
 County, Nevada AND EACH PARTY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF
 SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY
 WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH
 COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH
 SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT
 FORUM .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) EACH
 PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
 HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
 RELATING TO THIS WARRANT OR THE TRANSACTIONS CONTEMPLATED HEREIN, THE PERFORMANCE THEREOF
 OR THE FINANCINGS CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
 EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
 HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
 LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER
 PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
 AND CERTIFICATIONS IN THIS ‎Section 5(i)(iii) .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Attorneys' Fees</u>. In the event that any Party institutes any action or suit to enforce this Warrant or to secure relief from any default hereunder or breach hereof, the prevailing Party shall be entitled to reimbursement from the non-prevailing Party for all costs, including reasonable attorneys' fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Specific Performance</u>. The Parties agree that irreparable damage would occur if any provision of this Warrant were not performed in accordance with the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at Laws or in equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Third-Party Beneficiaries</u>. This Warrant is strictly between the Parties and, except as specifically provided, no director, officer, stockholder, member, employee, agent, independent contractor or any other Person shall be deemed to be a third-Party beneficiary of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Expenses</u>. Except as specifically set forth herein or in the SPA, each of the Parties will bear their own respective expenses, including without limitation the fees and expenses of its legal, accounting and financial advisors, incurred in connection with this Warrant or any of the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Amendment or Waiver</u>. Other than as specifically set forth herein, every right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity, and may be enforced concurrently herewith, and no waiver by any Party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. This Warrant may by amended only by a writing signed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Successors and Assigns</u>. This Warrant shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Warrant, or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Warrant or the transactions contemplated herein, or to pursue any claim for any breach or default of this Warrant, or any right arising from the purported assignor's due performance of its obligations hereunder, whether by operation of law or otherwise, without the prior written consent of the other Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Counterparts</u>. This Warrant may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Currency</u>. All dollar amounts are in U.S. dollars.

(Signature Page Follows)

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the Issue Date.

---

| | |
|:---|:---|
| Hycroft Mining Holding Corporation | Hycroft Mining Holding Corporation |
| By: |  |
| Name: | Diane R. Garrett |
| Title: | President and Chief Executive Officer |

---

*Agreed and accepted:*

[ ]

By:   <br> Name: [ ] <br> Title: [ ]

NOTICE OF EXERCISE

TO: Hycroft Mining Holding Corporation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The undersigned hereby elects to purchase<u> </u>____________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Payment shall be made in lawful money of the United States as set forth in the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Please issue said Warrant Shares in the name of the undersigned.

The Warrant Shares shall be delivered to the following DWAC Account Number:

________________________________________________

________________________________________________

________________________________________________

Name of Holder: [ ]

---

| | |
|:---|:---|
| By: |  |
| Name: | [ ] |
| Title: | [ ] |
| Date: | , 202_ |

---

## Exhibit 10.1

**Exhibit 10.1**

**Securities Purchase Agreement**

**By and Between**

**Hycroft Mining Holding Corporation**

**and**

**[ ]**

**Table of Contents**

---

| | | |
|:---|:---|:---|
| Article I. Definitions and Interpretation | Article I. Definitions and Interpretation | 1 |
| &nbsp;&nbsp;&nbsp;Section 1.01 | Definitions | 1 |
| &nbsp;&nbsp;&nbsp;Section 1.02 | Interpretive Provisions. | 3 |
| Article II. Purchase and Sale | Article II. Purchase and Sale | 3 |
| &nbsp;&nbsp;&nbsp;Section 2.01 | Purchase; Closing. | 3 |
| &nbsp;&nbsp;&nbsp;Section 2.02 | Deliverables at the Closing. | 3 |
| &nbsp;&nbsp;&nbsp;Section 2.03 | Adjustments for Stock Splits. | 4 |
| Article III. Conditions to the Closing | Article III. Conditions to the Closing | 5 |
| &nbsp;&nbsp;&nbsp;Section 3.01 | Buyer's Conditions to the Closing. | 5 |
| &nbsp;&nbsp;&nbsp;Section 3.02 | Company's Conditions to the Closing. | 5 |
| Article IV. Representations and Warranties of the Company | Article IV. Representations and Warranties of the Company | 6 |
| &nbsp;&nbsp;&nbsp;Section 4.01 | Authorization of Transactions. | 6 |
| &nbsp;&nbsp;&nbsp;Section 4.02 | Capitalization; Valid Issuance. | 6 |
| &nbsp;&nbsp;&nbsp;Section 4.03 | Governmental Approvals; Non-contravention. | 6 |
| &nbsp;&nbsp;&nbsp;Section 4.04 | Brokers. | 7 |
| Article V. Representations and Warranties of the Buyer | Article V. Representations and Warranties of the Buyer | 7 |
| &nbsp;&nbsp;&nbsp;Section 5.01 | Authorization of Transactions. | 7 |
| &nbsp;&nbsp;&nbsp;Section 5.02 | Governmental Approvals; Non-contravention. | 7 |
| &nbsp;&nbsp;&nbsp;Section 5.03 | Investment Representations. | 7 |
| &nbsp;&nbsp;&nbsp;Section 5.04 | Brokers. | 9 |
| Article VI. Covenants and Additional Agreements | Article VI. Covenants and Additional Agreements | 10 |
| &nbsp;&nbsp;&nbsp;Section 6.01 | Notices of Certain Events. | 10 |
| &nbsp;&nbsp;&nbsp;Section 6.02 | Consents of Third Parties. | 10 |
| &nbsp;&nbsp;&nbsp;Section 6.03 | Further Assurances. | 10 |
| Article VII. Default and Termination | Article VII. Default and Termination | 10 |
| &nbsp;&nbsp;&nbsp;Section 7.01 | Termination. | 10 |
| &nbsp;&nbsp;&nbsp;Section 7.02 | Effect of Termination. | 11 |

---

i

---

| | | |
|:---|:---|:---|
| Article VIII. Indemnification | Article VIII. Indemnification | 11.0 |
| &nbsp;&nbsp;&nbsp;Section 8.01 | General Indemnification. | 11.0 |
| &nbsp;&nbsp;&nbsp;Section 8.02 | Procedures for Indemnification. | 11.0 |
| &nbsp;&nbsp;&nbsp;Section 8.03 | Payment. | 13.0 |
| &nbsp;&nbsp;&nbsp;Section 8.04 | Effect of Knowledge on Indemnification. | 13.0 |
| Article IX. Miscellaneous | Article IX. Miscellaneous | 13.0 |
| &nbsp;&nbsp;&nbsp;Section 9.01 | Notices. | 13.0 |
| &nbsp;&nbsp;&nbsp;Section 9.02 | Attorneys' Fees. | 14.0 |
| &nbsp;&nbsp;&nbsp;Section 9.03 | Amendments; No Waivers. | 14.0 |
| &nbsp;&nbsp;&nbsp;Section 9.04 | No Consequential or Punitive Damages. | 14.0 |
| &nbsp;&nbsp;&nbsp;Section 9.05 | Expenses. | 15.0 |
| &nbsp;&nbsp;&nbsp;Section 9.06 | Successors and Assigns; Benefit. | 15.0 |
| &nbsp;&nbsp;&nbsp;Section 9.07 | Third-Party Beneficiaries. | 15.0 |
| &nbsp;&nbsp;&nbsp;Section 9.08 | Governing Law; Etc. | 15.0 |
| &nbsp;&nbsp;&nbsp;Section 9.09 | Resolution of Disputes. | 16.0 |
| &nbsp;&nbsp;&nbsp;Section 9.10 | Specific Performance. | 16.0 |
| &nbsp;&nbsp;&nbsp;Section 9.11 | Survival. | 16.0 |
| &nbsp;&nbsp;&nbsp;Section 9.12 | Severability. | 16.0 |
| &nbsp;&nbsp;&nbsp;Section 9.13 | Entire Agreement. | 16.0 |
| &nbsp;&nbsp;&nbsp;Section 9.14 | Counterparts. | 16.0 |
| Exhibit A Warrant | Exhibit A Warrant |  |

---

ii

**Securities Purchase Agreement**

This Securities Purchase Agreement (together with all exhibits and schedules hereto, this "Agreement") is entered into as of September 2, 2025 (the "Effective Date") at 3:00 p.m. Eastern Time, by and between Hycroft Mining Holding Corporation, a Delaware corporation (the "Company") and [ ] ("Buyer"). The Company and Buyer may be collectively referred to herein as the "Parties" and individually as a "Party."

WHEREAS, upon the terms and subject to the conditions set forth herein, the Company desires to issue and sell to Buyer certain securities of the Company and Buyer desires to acquire from the Company such securities;

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

**Article I. <u>Definitions and Interpretation</u>**

Section 1.01 <u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement, the following terms, as used herein, have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;(a) "Action"
 means any legal action, suit, claim, investigation, hearing or proceeding, including any audit, claim or assessment for taxes or
 otherwise.

(b) "Affiliate"
 means, with respect to a specified Person, any other Person that directly or indirectly Controls, is Controlled by or is under common
 Control with, the specified Person.

(c) "Business
 Day" means any day except Saturday, Sunday and any legal holiday or a day on which banking institutions in Delaware generally
 are authorized or required by Law or other governmental actions to close.

(d) "Common
 Stock" means the Class A common stock, par value $0.0001 per share, of the Company.

(e) "Contract"
 means any contract, commitment, understanding or agreement (whether oral or written).

(f) "Control"
 means (a) the possession, directly or indirectly, of the power to vote 10% or more of the securities or other equity interests of
 a Person having ordinary voting power, (b) the possession, directly or indirectly, of the power to direct or cause the direction
 of the management and policies of a Person, by contractor otherwise, or (c) being a director, officer, executor, trustee or fiduciary
 (or their equivalents) of a Person or a Person that controls such Person.

(g) "Encumbrance"
 means any security interest, pledge, mortgage, lien, charge, limitation, condition, equitable interest, option, easement, encroachment,
 right of first refusal, or similar adverse claim or restriction, including any restriction on transfer or other assignment, as security
 or otherwise, of or relating to use, quiet enjoyment, voting, receipt of income or exercise of any other attribute of ownership.

&nbsp;&nbsp;&nbsp;&nbsp;(h) "Governmental
 Authority" means any federal, state, municipal, local or foreign government and any court, tribunal, arbitral body, administrative
 agency, department, subdivision, entity, commission or other governmental, government appointed, quasi-governmental or regulatory
 authority, reporting entity or agency, domestic, foreign or supranational.

(i) "Law"
 means any applicable foreign, federal, state or local law (including common law), statute, treaty, rule, directive, regulation, ordinances
 and similar provisions having the force or effect of law or an Order of any Governmental Authority.

(j) "Liabilities"
 means liabilities, obligations or responsibilities of any nature whatsoever, whether direct or indirect, matured or un-matured, fixed
 or unfixed, known or unknown, asserted or unasserted, choate or inchoate, liquidated or unliquidated, secured or unsecured, absolute,
 contingent or otherwise, including any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage, deficiency, cost
 or expense.

(k) "Losses"
 means any losses, damages, deficiencies, Liabilities, assessments, fines, penalties, judgments, actions, claims, costs, disbursements,
 fees, expenses or settlements of any kind or nature, including legal, accounting and other professional fees and expenses.

(l) "Order"
 means any judgment, writ, decree, determination, award, compliance agreement, settlement agreement, injunction, ruling, charge, judicial
 or administrative order, determination or other restriction of any Governmental Authority or arbitrator.

(m) "Person"
 means a natural person, a corporation, a limited liability company, a partnership, an association, a trust or any other entity or
 organization, including a government or political subdivision or any agency or instrumentality thereof.

(n) "Representative"
 means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants
 and other agents of such Person.

(o) "Securities
 Act" means the United States Securities Act of 1933, as amended, and the rules and regulation promulgated thereunder.

(p) "Transaction
 Documents" means this Agreement, the Warrant, the Registration Rights Agreement and any other agreement, document, certificate or writing delivered or to be delivered
 in connection with this Agreement and any other document related to the Transactions related to the forgoing, including, without
 limitations, those delivered at the Closing.

(q) "Transactions"
 means the purchase and sale of the Units, including the Shares and the Warrant, and the other transactions contemplated under the
 Transaction Documents.

Section 1.02 <u>Interpretive Provisions</u>. The table of contents and headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement. Terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa; the terms "Dollars" and "$" mean United States Dollars. Reference in this Agreement to gender shall include all genders, and words imparting the singular number only shall include the plural and vice versa. The use of the terms "hereunder," "hereof," "hereto" and words of similar import shall refer to this Agreement as a whole and not to any particular Article, Section or clause of or Exhibit, Annex or Schedule to this Agreement. The use of the terms "including" or "include" shall in all cases herein mean "including, without limitation" or "include, without limitation," respectively. With respect to the determination of any period of time, the word "from" means "from and including" and the words "to" and "until" each means "to but excluding." Reference to any Person includes such Person's predecessors, successors and assigns to the extent, in the case of successors and assigns, such successors and assigns are permitted by the terms of any applicable agreement however, that nothing contained herein is intended to authorize any assignment or transfer not otherwise permitted by this Agreement. Reference to a Person in a particular capacity excludes such Person in any other capacity or individually. Reference to any agreement (including this Agreement), document or instrument means such agreement, document or instrument as amended or modified and in effect from time to time in accordance with the terms thereof and, if applicable, the terms hereof. Reference to any Law means such Law as amended, modified, codified, replaced or re-enacted, in whole or in part, including rules, regulations, enforcement procedures and any interpretations promulgated thereunder. Underscored references to Articles, Sections, Exhibits or Schedules shall refer to those portions of this Agreement. In the event of a conflict between language or amounts contained in the body of this Agreement and language or amounts contained in the Exhibits attached hereto, the language or amounts in the body of the Agreement shall control.

**Article II. <u>Purchase and Sale</u>**

Section 2.01 <u>Purchase; Closing.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Pursuant
 to the terms and conditions of this Agreement, the Company shall issue and sell to Buyer a number of units of securities of the
 Company as set forth on the signature page hereof (the "Units") for a purchase price of $4.2805 per Unit, for a
 resulting total purchase price as set forth on the signature page hereof ("Purchase Price"), with each Unit consisting
 of one share of Common Stock (allocated a value of $4.218 per share, which is at the "Minimum Price" computed in
 accordance with Nasdaq Listing Rule 5635(d)(1)(A)(ii)), and one-half of one common stock purchase warrant (allocated a value of
 $0.00625 per one-half of one common stock purchase warrant pursuant to Nasdaq Identification Number 279) (each whole warrant, a
 "Warrant"), in the form as attached to hereto as Exhibit A, resulting in the Warrant being issued for a total number of
 shares of Common Stock as set forth on the signature page hereof, and with an exercise price of $6.00 per share; in each case
 subject to the terms and conditions as set forth herein.

(b) At the Closing, the Company shall enter into a Registration Rights Agreement
with the Buyer and the other buyers acquiring securities of the Company pursuant to agreements substantially in the form of this Agreement,
and being entered into on the Effective Date, in the form as attached hereto as Exhibit B (the "Registration Rights Agreement").

(c) Subject to the
terms and conditions herein, the closing of the purchase and sale of the Units (the "Closing") shall occur on a date as to
be agreed by the Parties prior to the Outside Closing Date (as defined below), and if not otherwise agreed, on the Outside Closing Date,
subject to the satisfaction, or waiver by the Party for whose benefit the conditions exist, in the sole discretion of such Party, of the
conditions to the Closing as set forth in Article III, at the offices of the Company or via the exchange of documents electronically,
as agreed to by the Parties, as set forth below. The date of the occurrence of the Closing is referred to as the "Closing Date".

Section 2.02 <u>Deliverables at the Closing.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) At
 the Closing, Buyer shall deliver to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 Purchase Price, via wire transfer pursuant to wire instructions a provided by the Company to the Buyer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a
 copy of the Warrant, duly countersigned by an authorized officer of the Buyer;

(iii) a copy of the Registration Rights Agreement, duly
countersigned by an authorized officer of the Buyer;

(iv) a
 certificate from Buyer, in form and substance reasonably acceptable to the Company, (1) certifying that the matters set forth in **  Section 3.02(a) and **  Section 3.02(b) are true and correct; (2) attaching and certifying copies of the resolutions
 of the Board of Directors of the Buyer relating to this Agreement, the other Transaction Documents and the Transactions; and (3)
 certifying the name, title and true signature of each officer of the Buyer executing or authorized to execute this Agreement, the
 Transaction Documents, and such other documents, instruments and certifications required or contemplated hereby or thereby; and

(v) such
 other documents as the Company may reasonably request for the purpose of evidencing the accuracy of the Buyer's representations
 and warranties; evidencing the performance by the Buyer of, or the compliance by the Buyer with, any covenant or obligation required
 to be performed or complied with by the Buyer hereunder, or otherwise facilitating the consummation or performance of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;(b) At
 the Closing the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) shall
 record the Buyer in the stock ledger of the Company as the beneficial owner of the shares of Common Stock included within the Units
 (the "Shares"), which the Parties acknowledge will not be certificated, and the Company shall deliver to the Buyer the
 Warrant, duly executed by an authorized officer of the Company;

(ii) deliver to the Buyer a copy of the Registration Rights
Agreement, duly countersigned by an authorized officer of the Company;

(iii) deliver
 to Buyer (1) a certificate in form and substance reasonably acceptable to Buyer certifying the matters in **  Section 3.01(a)
 and **  Section 3.01(b) are true and correct; (2) attaching and certifying copies of the resolutions of the Board of Directors
 of the Company relating to this Agreement, the other Transaction Documents and the Transactions; and (3) certifying the name, title
 and true signature of each officer of the Company executing or authorized to execute this Agreement, the Transaction Documents, and
 such other documents, instruments and certifications required or contemplated hereby or thereby; and

(iv) deliver
 to Buyer such other documents as the Buyer may reasonably request for the purpose of evidencing the accuracy of the Company's
 representations and warranties; evidencing the performance by the Company of, or the compliance by the Company with, any covenant
 or obligation required to be performed or complied with by the Company hereunder, or otherwise facilitating the consummation or performance
 of the Closing.

Section 2.03 <u>Adjustments for Stock Splits.</u> If at any time between the Effective Date and the Closing Date, the Company effects a forward split or reverse split of the Common Stock, the number of Units, the number of Shares to be sold to Buyer hereunder, the number of shares of Common Stock to be subject to the Warrant comprising each Unit, the price per Unit, and the exercise price of the Warrant shall each be equitably and appropriately adjusted.

**Article III. <u>Conditions to the Closing</u>**

Section 3.01 <u>Buyer's Conditions to the Closing.</u> The obligations of the Buyer to consummate the Closing shall be subject to the fulfillment or written waiver by the Buyer, in its sole and absolute discretion, on or prior to the Closing Date, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 of the representations and warranties of the Company contained in this Agreement shall be true and correct in all material respects
 when made and on and as of the Closing Date with the same effect as though such representations and warranties had been made on and
 as of the Closing Date, except for such representations and warranties which are qualified as to materiality, which shall be true
 and correct in all respects, and except for such representations and warranties which are made as of a specified date, which shall
 be true and correct in all material respects or, if qualified by materiality then true and correct in all respects, as of such date.

(b) The
 Company shall have performed and observed in all material respects all covenants and agreements required to be performed and observed
 by the Company under this Agreement at or prior to the Closing Date.

(c) No
 action, proceeding, claim or litigation shall have been commenced (or, threatened, if in Buyer's commercially reasonable judgment
 such threat constitutes a colorable claim) by or before any Governmental Authority against either Party hereto seeking to restrain
 or materially and adversely alter the Transactions.

(d) The
 Company shall have delivered to Buyer the applicable items, executed certificates and instruments as set forth in Section 2.02(b).

Section 3.02 <u>Company's Conditions to the Closing.</u> The obligations of the Company to consummate the Closing shall be subject to the fulfillment or written waiver by the Company, in its sole and absolute discretion, on or prior to the Closing Date, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 of the representations and warranties of Buyer contained in this Agreement shall be true and correct in all material respects when
 made and on and as of the Closing Date with the same effect as though such representations and warranties had been made on and as
 of the Closing Date, except for such representations and warranties which are qualified as to materiality, which shall be true and
 correct in all respects, and except for such representations and warranties which are made as of a specified date, which shall be
 true and correct in all material respects or, if qualified by materiality then true and correct in all respects, as of such date.

(b) Buyer
 shall have performed and observed in all material respects all covenants and agreements required to be performed and observed by
 Buyer under this Agreement at or prior to the Closing Date.

(c) No
 action, proceeding, claim or litigation shall have been commenced (or, threatened, if in the Company's commercially reasonable
 judgment such threat constitutes a colorable claim) by or before any Governmental Authority or by The Nasdaq Stock Market LLC ("Nasdaq")
 against either Party hereto seeking to restrain or materially and adversely alter the Transactions.

(d) All
 consents, approvals and waivers from any Person in connection with the Transactions, or required for the Closing to occur without
 an adverse effect on the Company or its operations, shall have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Buyer
 shall have delivered to the Company the applicable items, executed certificates and instruments as set forth in Section 2.02(a).

**Article IV. <u>Representations and Warranties of the Company</u>**

The Company represents and warrants to Buyer that the following representations and warranties contained in this Article IV are true and correct as of the Effective Date and as of each applicable Closing Date:

Section 4.01 <u>Authorization of Transactions.</u> The Company is a corporation duly authorized and in good standing in the State of Delaware. The Company has the requisite power and capacity to execute and deliver the Transaction Documents to which the Company is a party and to perform its obligations hereunder and thereunder. The execution, delivery and performance by the Company of the applicable Transaction Documents and the consummation of the Transactions have been duly and validly authorized by all requisite action on the part of the Company. The Transaction Documents to which the Company is a party have been duly and validly executed and delivered by the Company. Each Transaction Document to which the Company is a party constitutes the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms and conditions, except to the extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors' rights or by the principles governing the availability of equitable remedies.

Section 4.02 <u>Capitalization; Valid Issuance.</u> The Shares shall constitute part of the issued and outstanding equity capital of the Company, and all of the Shares shall be duly authorized for issuance without violation of any preemptive or similar rights and, when issued in accordance with the terms and conditions herein, will be validly issued and fully paid and nonassessable.

Section 4.03 <u>Governmental Approvals; Non-contravention.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) No
 consent, Order, action or non-action of, or filing, notification, declaration or registration with, any Governmental Authority or
 Person is necessary for the execution, delivery or performance by the Company of this Agreement or any other Transaction Document
 to which the Company is a party.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 execution, delivery and performance by the Company of the Transaction Documents to which the Company is a party, and the consummation
 by the Company of the Transactions, do not (i) violate any Laws or Orders to which the Company is subject or (ii) violate, breach
 or conflict with any provision of the Company's organizational documents.

Section <u>4.04 Brokers.</u> The Company has not engaged, or caused to be incurred any Liability or obligation to, any investment banker, finder, broker or sales agent or any other Person in connection with the origin, negotiation, execution, delivery or performance of the Transaction Documents to which it is a party, or the Transactions.

**Article V. <u>Representations and Warranties of the Buyer</u>**

Buyer represents and warrants to the Company that the following statements contained in this Article V are true and correct as of the Effective Date and as of each applicable Closing Date:

Section 5.01 <u>Authorization of Transactions.</u> Buyer is a natural person or is an entity duly organized and in good standing in the jurisdiction of its organization, and has the requisite power and capacity to execute and deliver the Transaction Documents, to which it is a party and to perform its obligations hereunder and thereunder. The execution, delivery and performance by Buyer of the applicable Transaction Documents and the consummation of the Transactions have been duly and validly authorized by all requisite action on the part of Buyer. The Transaction Documents to which Buyer is a party have been duly and validly executed and delivered by Buyer. Each Transaction Document to which Buyer is a party constitutes the valid and legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms and conditions, except to the extent enforcement thereof may be limited by applicable bankruptcy, insolvency or other Laws affecting the enforcement of creditors' rights or by the principles governing the availability of equitable remedies.

Section 5.02 <u>Governmental Approvals; Non-contravention.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) No
 consent, Order, action or non-action of, or filing, notification, declaration or registration with, any Governmental Authority is
 necessary for the execution, delivery or performance by Buyer of this Agreement or any other Transaction Document to which Buyer
 is a party.

(b) The
 execution, delivery and performance by Buyer of the Transaction Documents to which Buyer is a party, and the consummation by Buyer
 of the Transactions, do not (i) violate any Laws or Orders to which Buyer is subject or (ii) violate, breach or conflict with any
 provision of Buyer's organizational documents if Buyer is an entity.

Section 5.03 <u>Investment Representations.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Buyer
 understands and agrees that the consummation of this Agreement including the delivery of the Units, the Shares, the Warrant and the
 shares of Common Stock that may be received on any exercise of the Warrant (collectively, the "Securities") to Buyer
 as contemplated hereby constitutes the offer and sale of securities under the Securities Act and applicable state statutes and that
 the Securities are being acquired for Buyer's own account and not with a present view towards the public sale or distribution
 thereof, except pursuant to sales registered or exempted from registration under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Buyer
 is an "accredited investor" as that term is defined in Rule 501(a) of Regulation D under the Securities Act (an "Accredited
 Investor").

(c) Buyer
 understands that the Securities are being offered and sold to Buyer in reliance upon specific exemptions from the registration requirements
 of United States federal and state securities Laws and that the Company is relying upon the truth and accuracy of, and Buyer's
 compliance with, the representations, warranties, agreements, acknowledgments and understandings of Buyer set forth herein in order
 to determine the availability of such exemptions and the eligibility of Buyer to acquire the Securities.

(d) Buyer
 and its advisors, if any, have been furnished with all materials relating to the Company and its business, finances and operations
 of the Company and materials relating to the offer and sale of the Securities which have been requested by Buyer or its advisors.
 Buyer and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Buyer understands that its investment
 in the Securities involves a significant degree of risk.

(e) At
 no time was Buyer presented with or solicited by any leaflet, newspaper or magazine article, radio or television advertisement, or
 any other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently
 with such communicated offer. Buyer is not purchasing the Securities acquired by Buyer hereunder as a result of any "general
 solicitation" or "general advertising," as such terms are defined in Regulation D under the Securities Act, which
 includes, but is not limited to, any advertisement, article, notice or other communication regarding the Securities acquired by Buyer
 hereunder published in any newspaper, magazine or similar media or on the internet or broadcast over television, radio or the internet
 or presented at any seminar or any other general solicitation or general advertisement.

(f) Buyer
 is acquiring the Securities for its own account as principal, not as a nominee or agent, for investment purposes only, and not with
 a view to, or for, resale, distribution or fractionalization thereof in whole or in part and no other person has a direct or indirect
 beneficial interest in the Securities. Further, Buyer does not have any contract, undertaking, agreement or arrangement with any
 person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.

(g) Buyer
 understands that (i) the sale or re-sale of the Securities has not been registered under the Securities Act or any applicable state
 securities laws, and unless and until registered, the Securities may not be transferred unless (1) the Securities are sold pursuant
 to an effective registration statement under the Securities Act; (2) Buyer shall have delivered to the Company, at the cost of the
 Company, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions
 to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration,
 which opinion shall be accepted by the Company; (3) the Securities are sold or transferred to an "affiliate" (as defined
 in Rule 144 promulgated under the Securities Act (or a successor rule) ("Rule 144") of Buyer who agrees to sell or otherwise
 transfer the Securities only in accordance with this Section 5.03 to a Person who is an Accredited Investor; (4) the Securities
 are sold pursuant to Rule 144; (5) the Securities are sold pursuant to Regulation S under the Securities Act (or a successor rule)
 ("Regulation S"); or (6) the Securities are sold pursuant to the exemption from registration afforded under Section 4(a)(1)
 or Section 4(a)(7) of the Securities Act, and Buyer shall have delivered to the Company, at the cost of the Company, an opinion of
 counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion shall
 be accepted by the Company; (ii) any sale of Securities made in reliance on Rule 144 may be made only in accordance with the terms
 of said Rule and further, if said Rule is not applicable, any re-sale of Securities under circumstances in which the seller (or the
 person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the Securities Act) may require
 compliance with some other exemption under the Securities Act or the rules and regulations of the Securities and Exchange Commission
 thereunder; and (iii) neither the Company nor any other person is under any obligation to register such Securities under the Securities
 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case).

&nbsp;&nbsp;&nbsp;&nbsp;(h) Buyer,
 either alone or together with its Representatives, has such knowledge, sophistication and experience in business and financial matters
 so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the
 merits and risks of such investment. Buyer is able to bear the economic risk of its investment in the Securities and, at the present
 time, is able to afford a complete loss of such investment.

(i) Buyer
 understands that no United States federal or state agency or any other governmental or state agency has passed on or made recommendations
 or endorsement of the Securities or the suitability of the investment in the Securities nor have such authorities passed upon or
 endorsed the merits of the Transactions set forth herein.

(j) Any
 legend required by the securities laws of any state to the extent such laws are applicable to the Securities represented by the certificate
 so legended shall be included on any certificates representing the Securities. Buyer also understands that the Securities may bear
 the following or a substantially similar legend:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE NOT SET FORTH HEREIN.

Section 5.04 <u>Brokers.</u> Buyer has not engaged any investment banker, finder, broker or sales agent or any other Person in connection with the origin, negotiation, execution, delivery or performance of any Transaction Document to which it is a party, or the Transactions.

**Article VI. <u>Covenants and Additional Agreements</u>**

Section 6.01 <u>Notices of Certain Events.</u> In addition to any other notice required to be given by the terms of this Agreement, each of the Parties shall promptly notify the other Party of (i) any notice or other communication from any Person alleging that the consent of such Person is or may be required in connection with any of the Transactions; (ii) any notice or other communication from any governmental or regulatory agency or authority in connection with the Transactions; and (iii) any actions, suits, claims, investigations or proceedings commenced or, to its knowledge threatened against, relating to or involving or otherwise affecting such Party that, if pending on the date of this Agreement, would have been required to have been disclosed pursuant hereto or that relates to the consummation of the Transactions.

Section 6.02 <u>Consents of Third Parties.</u> Each of the Parties will give any notices to third parties, and will use its commercially reasonable efforts to obtain any third-party consents, that the other Party reasonably may request in connection with this Agreement. Each of the Parties will give any notices to, make any filings with, and use its commercially reasonable efforts to obtain any authorizations, consents, and approvals of governments and governmental agencies in connection with the matters in this Agreement.

Section 6.03 <u>Further Assurances.</u> Following the Effective Date, each Party shall, and shall cause its respective Affiliates to, execute and deliver such additional documents, instruments, conveyances and assurances and take such further commercially reasonable actions as may be reasonably required to carry out the provisions hereof and give effect to the Transactions.

**Article VII. <u>Default and Termination</u>**

Section 7.01 <u>Termination.</u> This Agreement may be terminated at any time before the Closing Date as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 mutual written consent of the Parties;

(b) by
 either Party if there shall be in effect a final non-appealable order, judgment, injunction or decree entered by or with any governmental
 authority restraining, enjoining or otherwise prohibiting the consummation of the Transactions;

(c) by
 the Company if there shall have been a breach in any material respect of any representation, warranty, covenant or agreement on the
 part of the Buyer set forth in this Agreement and such breach has not been cured within ten (10) days after receipt of notice of
 such breach by the Buyer (a "Buyer Default");

(d) by
 the Buyer if there shall have been a breach in any material respect of any representation, warranty, covenant or agreement on the
 part of the Company set forth in this Agreement and such breach has not been cured within ten (10) days after receipt of notice of
 such breach by the Company (a "Company Default"); or

(e) by
 the Company or by the Buyer if the Closing has not occurred by September 10, 2025 (the "Outside Closing Date"), provided, however, that (i) if the Closing has not
 occurred by such date due to a breach of this Agreement by the Company, the Company shall not have the right to terminate this Agreement
 pursuant to this Section 7.01(e) and (ii) if the Closing has not occurred by such date due to a breach of this Agreement by
 Buyer, the Buyer shall not have the right to terminate this Agreement pursuant to this Section 7.01(e).

Section 7.02 <u>Effect of Termination.</u> In the event of the valid termination of this Agreement pursuant to this Article VII prior to the Closing, this Agreement, shall become void and of no further force or effect with no liability on the part of any Party, other than this Article VII and Article IX, and such additional sections and provisions herein as required to give effect to any of the forgoing, each of which shall survive any such termination of this Agreement, and provided that any such termination shall not relieve any Party from liability for actual damages to the other Party resulting from a material breach of this Agreement by such first Party occurring prior to such termination.

**Article VIII. <u>Indemnification</u>**

Section 8.01 <u>General Indemnification.</u> If the Closing occurs, each Party (the "Indemnifying Party") agrees to indemnify, defend and hold harmless the other Party and such other Party's Affiliates and each of their respective directors, officers, managers, partners, employees, agents, equity holders, successors and assigns (each, an "Indemnified Party"), from and against any and all Losses incurred or suffered by any Indemnified Party arising out of, based upon or resulting from any breach of any representations or warranties of the Indemnifying Party herein or breach by the Indemnifying Party of, or any failure the Indemnifying Party to perform, any of the covenants, agreements or obligations contained in or made pursuant to this Agreement by the Indemnifying Party.

Section 8.02 <u>Procedures for Indemnification.</u> The following shall apply with respect to all claims by any Indemnified Party for indemnification hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;(a) *Third-Party Claims*. If any Indemnified Party receives notice of the assertion or commencement of any Action made or brought by any Person
 who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative of the foregoing (a "Third-Party
 Claim") against such Indemnified Party with respect to which the Indemnifying Party is obligated to provide indemnification
 under this Agreement, the Indemnified Party shall give the Indemnifying Party reasonably prompt written notice thereof, but in any
 event not later than thirty (30) calendar days after receipt of such notice of such Third-Party Claim. The failure to give such prompt
 written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent
 that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe
 the Third-Party Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the
 estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party. The Indemnifying
 Party shall have the right to participate in, or by giving written notice to the Indemnified Party, to assume the defense of any
 Third-Party Claim at the Indemnifying Party's expense and by the Indemnifying Party's own counsel, and the Indemnified
 Party shall cooperate in good faith in such defense. In the event that the Indemnifying Party assumes the defense of any Third-Party
 Claim, subject to Section 8.02(b), it shall have the right to take such action as it deems necessary to avoid, dispute, defend,
 appeal or make counterclaims pertaining to any such Third-Party Claim in the name and on behalf of the Indemnified Party. The Indemnified
 Party shall have the right to participate in the defense of any Third-Party Claim with counsel selected by it subject to the Indemnifying
 Party's right to control the defense thereof, provided that the fees and disbursements of such counsel shall be at the expense
 of the Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;(b) *Settlement of Third-Party Claims*. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not enter into settlement
 of any Third-Party Claim without the prior written consent of the Indemnified Party, except as provided in this Section 8.02(b).
 If a firm offer is made to settle a Third-Party Claim without leading to liability or the creation of a financial or other obligation
 on the part of the Indemnified Party and provides, in customary form, for the unconditional release of each Indemnified Party from
 all liabilities and obligations in connection with such Third-Party Claim and the Indemnifying Party desires to accept and agree
 to such offer, the Indemnifying Party shall give written notice to that effect to the Indemnified Party. If the Indemnified Party
 objects to such offer, or does not provide a response to such firm offer within ten days after its receipt of such notice (in which
 case the Indemnified Party shall be deemed to not have consented to such offer), the Indemnified Party shall thereafter assume the
 defense of such Third-Party Claim and shall continue to contest or defend such Third-Party Claim and in such event the maximum liability
 of the Indemnifying Party as to such Third-Party Claim shall not exceed the amount of such settlement offer. If the Indemnified Party
 consents to such firm offer the Indemnifying Party may settle the Third-Party Claim upon the terms set forth in such firm offer to
 settle such Third-Party Claim. If the Indemnifying Party has not assumed the defense pursuant to Section 8.02(a), the Indemnified
 Party shall not agree to any settlement without the written consent of the Indemnifying Party (which consent shall not be unreasonably
 withheld or delayed).

(c) *Direct Claims*. Any Action by an Indemnified Party on account of a Loss which does not result from a Third-Party Claim (a "Direct
 Claim") shall be asserted by the Indemnified Party giving the Indemnifying Party reasonably prompt written notice thereof,
 but in any event not later than thirty (30) calendar days after the Indemnified Party becomes aware of such Direct Claim. The failure
 to give such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification obligations, except
 and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified
 Party shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall
 indicate the estimated amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified Party.
 The Indemnifying Party shall have thirty (30) calendar days after its receipt of such notice to respond in writing to such Direct
 Claim. The Indemnified Party shall allow the Indemnifying Party and its professional advisors to investigate the matter or circumstance
 alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable in respect of the Direct Claim and
 the Indemnified Party shall assist the Indemnifying Party's investigation by giving such information and assistance as the
 Indemnifying Party or any of its professional advisors may reasonably request. If the Indemnifying Party does not so respond within
 such thirty (30) calendar day period, the Indemnifying Party shall be deemed to have rejected such claim, in which case the Indemnified
 Party shall be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions
 of this Agreement.

(d) *Cooperation*.
 Upon a reasonable request made by the Indemnifying Party, each Indemnified Party seeking indemnification hereunder in respect of
 any Direct Claim, hereby agrees to consult with the Indemnifying Party and act reasonably to take actions reasonably requested by
 the Indemnifying Party in order to attempt to reduce the amount of Losses in respect of such Direct Claim. Any costs or expenses
 associated with taking such actions shall be included as Losses hereunder.

Section 8.03 <u>Payment.</u> Upon a determination of liability under this Article VIII, the Indemnifying Party shall pay or cause to be paid to the Indemnified Party the amount so determined within five (5) Business Days after the date of such determination. If there should be a dispute as to the amount or manner of determination of any indemnity obligation owed under this Agreement, the Indemnifying Party shall nevertheless pay when due such portion, if any, of the obligation that is not subject to dispute. Upon the payment in full of any amounts due under this Article VIII with respect to any claim, the Indemnifying Party shall be subrogated to the rights of the Indemnified Party against any Person with respect to the subject matter of such claim.

Section 8.04 <u>Effect of Knowledge on Indemnification.</u> The right to indemnification, reimbursement or other remedy based upon any representations, warranties, covenants and obligations set forth in this Agreement shall not be affected by any investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, whether before or after the execution and delivery of this Agreement, with respect to the accuracy or inaccuracy of or compliance with any such representation, warranty, covenant or obligation. The waiver of any condition based upon the accuracy of any representation or warranty, or on the performance of or compliance with any covenant or obligation, shall not affect the right to indemnification, reimbursement or other remedy based upon such representations, warranties, covenants or obligations.

**Article IX. <u>Miscellaneous</u>**

Section 9.01 <u>Notices.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Any
 notices under this Agreement shall be in writing. Notices may be served by certified or registered mail, postage paid with return
 receipt requested; by private courier, prepaid; by other reliable form of electronic communication; or personally. Mailed notices
 shall be deemed delivered five (5) days after mailing, properly addressed. Couriered notices shall be deemed delivered on the date
 that the courier warrants that delivery will occur. Electronic communication notices shall be deemed delivered when receipt is either
 confirmed by confirming transmission equipment or acknowledged by the addressee or its office. Personal delivery shall be effective
 when accomplished. Any Party may change its address by giving notice, in writing, stating its new address, to the other Party. Subject
 to the forgoing, notices shall be sent as follows:

If to the Company, to:

Hycroft Mining Holding Corporation

PO Box 3030

Winnemucca, Nevada 89446

Attention: General Counsel

email: rebecca.jennings@hycroftmining.com

With a copy, which shall not constitute notice, to:

Anthony, Linder & Cacomanolis, PLLC

Attn: Laura Anthony

1700 Palm Beach Lakes Blvd., Suite 820

West Palm Beach, FL 33401

Email: lanthony@alclaw.com

If to the Buyer, to the address for notices as set forth on the signature page hereof.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Either
 Party may change its address for notices hereunder upon notice to the other Party in the
 manner for giving notices hereunder.

Section 9.02 <u>Attorneys' Fees.</u> In the event that either Party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable attorney's fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

Section 9.03 <u>Amendments; No Waivers.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) Other
 than as specifically set forth herein, including in Section 2.03, this Agreement may be amended, modified, superseded, terminated
 or cancelled, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written
 instrument executed by the Parties.

(b) Every
 right and remedy provided herein shall be cumulative with every other right and remedy, whether conferred herein, at law, or in equity,
 and may be enforced concurrently herewith, and no waiver by any Party of the performance of any obligation by another Party shall
 be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing.

(c) Neither
 any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course
 of dealing shall constitute a waiver of or prevent any Party from enforcing any right or remedy or from requiring satisfaction of
 any condition. No notice to or demand on a Party waives or otherwise affects any obligation of that Party or impairs any right of
 the Party giving such notice or making such demand, including any right to take any action without notice or demand not otherwise
 required by this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise
 of any other right or remedy, as appropriate to make the aggrieved Party whole with respect to such breach, or subsequent exercise
 of any right or remedy with respect to any other breach.

Section 9.04 <u>No Consequential or Punitive Damages.</u> Notwithstanding anything else contained herein, no Party shall seek, nor shall any Party be liable for, consequential, punitive or exemplary damages, under any tort, contract, equity, or other legal theory, with respect to any breach (or alleged breach) of this Agreement or any provision hereof or any matter otherwise relating hereto or arising in connection herewith, other than for any punitive damages actually ordered by a Governmental Authority and thereafter finally paid.

Section 9.05 <u>Expenses.</u> Unless otherwise contemplated or stipulated by this Agreement, all costs and expenses incurred in connection with this Agreement shall be paid by the Party incurring such cost or expense.

Section 9.06 <u>Successors and Assigns; Benefit.</u> This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated herein, or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported assignor's due performance of its obligations hereunder, whether by operation of law or otherwise, without the prior written consent of the other Party and any such purported assignment in contravention of the provisions herein shall be null and void and of no force or effect.

Section 9.07 <u>Third-Party Beneficiaries.</u> This contract is strictly between the Parties and, except as specifically provided, no director, officer, stockholder, employee, agent, independent contractor or any other Person shall be deemed to be a third-Party beneficiary of this Agreement.

Section 9.08 <u>Governing Law; Etc.</u>

&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement, and any and all claims, proceedings or causes of action relating to this Agreement or arising
 from this Agreement or the transactions contemplated herein, including, without limitation, tort claims, statutory claims and contract
 claims, shall be interpreted, construed, governed and enforced under and solely in accordance with the substantive and procedural
 laws of the State of Delaware, in each case as in effect from time to time and as the same may be amended from time to time, and
 as applied to agreements performed wholly within the State of Delaware .

(b) SUBJECT
 TO Section 9.09, ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS
 OR THE TRANSACTIONS SHALL BE INSTITUTED SOLELY IN THE STATE OF NEVADA COURTS OR THE FEDERAL COURTS OF THE UNITED STATES WITH JURISDICTION
 IN Humboldt County, Nevada AND EACH PARTY IRREVOCABLY SUBMITS
 TO THE PERSONAL JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE
 ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO
 PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT
 FORUM .

(c) EACH
 PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
 DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS, THE PERFORMANCE THEREOF OR THE FINANCINGS
 CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
 AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
 SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 9.08(c).

Section 9.09 <u>Resolution of Disputes.</u> Except as otherwise provided herein, all controversies, disputes or actions between the Parties arising out of the Transactions or this Agreement, including their respective Affiliates, owners, officers, directors, agents and employees, arising from or relating to this Agreement shall on demand of either party be submitted for arbitration to in accordance with the rules and regulations of the American Arbitration Association. The arbitration shall be conducted by one arbitrator jointly selected by the Parties, provided, however, that if such Parties are unable to agree on the identity of the arbitrator within 10 Business Days of commencement of efforts to do so, each Party shall select one arbitrator and the arbitrators so selected shall select a final arbitrator, and the final arbitrator shall conduct the arbitration alone. The Parties agree that, in connection with any such arbitration proceeding, each shall submit or file any claim which would constitute a compulsory counterclaim (as defined by Rule 13 of the Federal Rules of Civil Procedures) within the same proceeding as the claim to which it relates. Any such claim which is not submitted or filed in such proceeding shall be barred. The arbitrator shall be instructed to use every reasonable effort to perform its services within seven Business Days of request, and, in any case, as soon as practicable. The Parties agree to be bound by the provisions of any limitation on the period of time by which claims must be brought under Delaware law or any applicable federal law. The arbitrator shall have the right to award the relief which he or she deems proper, consistent with the terms of this Agreement, including compensatory damages (with interest on unpaid amounts from due date), injunctive relief, specific performance, legal damages and costs. The award and decision of the arbitrator shall be conclusive and binding on all Parties, and judgment upon the award may be entered in any court of competent jurisdiction. Any right to contest the validity or enforceability of this award shall be governed exclusively by the United States Arbitration Act. The arbitration shall be conducted in Winnemucca, Nevada. The provisions of this Section 9.09 shall continue in full force and effect subsequent to and notwithstanding the expiration or termination of this Agreement.

Section 9.10 <u>Specific Performance.</u> Each Party agrees that irreparable damage would occur if any provision of this Agreement or the Warrant were not performed in accordance with the terms hereof and that each Party shall be entitled to seek specific performance of the terms and agreements in this Agreement and in the Warrant, in addition to any other remedy at law or in equity.

Section 9.11 <u>Survival.</u> The representations and warranties in Article IV and Article V of this Agreement shall survive the Closing for a period of twelve (12) months from the Closing, and no claim for indemnification may be made after such time. All covenants and agreements in this Agreement will survive until fully performed; provided, however, that, nothing herein shall prevent a Party from making any claim hereunder, or relieve any other Party from any liability hereunder, after such time for any breach thereof.

Section 9.12 <u>Severability.</u> If any provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner adverse to any Party. Upon such determination that any provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the Transactions are fulfilled to the extent possible.

Section 9.13 <u>Entire Agreement.</u> This Agreement and the other Transaction Documents constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof and supersedes all prior agreements and understandings, both oral and written, between the Parties with respect to the subject matter hereof and thereof.

Section 9.14 <u>Counterparts.</u> This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*[Signature page follows]*

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed effective as of the Effective Date.

---

| | |
|:---|:---|
| Hycroft Mining Holding Corporation | Hycroft Mining Holding Corporation |
| By: |  |
| Name: | Diane R. Garrett |
| Title: | President and Chief Executive Officer |
| [ ] | [ ] |
| By: |  |
| Name: | [ ] |
| Title: | [ ] |

---

---

| | | |
|:---|:---|:---|
| Number of Units/Shares to be acquired: |  | [ ] |
| Number of Shares of Common Stock pursuant to the Warrant: |  | [ ] |
| Purchase Price: | $| [ ] |

---

Address for notices:

[ ]

Exhibit A

Warrant

(Attached)

Exhibit B

Registration Rights Agreement

(Attached)

## Exhibit 10.2

**Exhibit 10.2**

**Registration Rights Agreement**

This Registration Rights Agreement (this "Agreement"), dated as of September [___], 2025, is entered into by and among Hycroft Mining Holding Corporation, a Delaware (the "Company"), and the several investors signatory hereto (individually as an "Investor" and collectively together with their respective permitted assigns, the "Investors"). The Company and each Investor may be collectively referred to herein as the "Parties" and individually as a "Party." Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in Securities Purchase Agreements by and among the Company and the various Investors a party hereto, dated as of September 2, 2025, one of which has to been entered into by each Investor (as amended, restated, supplemented or otherwise modified from time to time, and as to each Investor, the "Purchase Agreement").

WHEREAS:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Upon the terms and subject to the conditions of the Purchase Agreement, the Company has agreed to issue to the Investors, and the Investors have agreed to purchase, severally and not jointly, an aggregate of (x) up to 16,353,230 shares of Common Stock (the "Initial Shares"), and (y) warrants to purchase an additional up to 8,176,615 shares of Common Stock (the "Warrants"), in each case, pursuant to the Purchase Agreements. The Initial Shares and the shares of Common Stock issuable upon exercise of the Warrants, without giving effect to any limitations on exercise of the Warrants, and assuming all of the Warrants are exercised for cash, are collectively referred to herein as the "Shares."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. To induce the Investors to enter into the Purchase Agreements, the Company has agreed to provide certain registration rights under the Securities Act, and applicable state securities laws.

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Investors hereby agree as follows:

**Article I. Definitions.**

Section 1.01 <u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement, the following terms, as used herein, have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;(a) "Register,"
 "Registered," and "Registration" refer to a registration effected by preparing and filing one or more registration
 statements of the Company in compliance with the Securities Act and providing for offering securities on a continuous basis, and
 the declaration or ordering of effectiveness of such registration statement(s) by the U.S. Securities and Exchange Commission (the
 "SEC").

(b) "Registrable
 Securities" means the Shares and any Common Stock issued or issuable with respect to the Shares as a result of any share split
 or subdivision, share dividend, recapitalization, exchange or similar event. Registrable Securities shall cease to be Registrable
 Securities upon the date on which the Investors shall have resold all the Registrable Securities covered by the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;(c) "Registration
 Expenses" means all registration and filing fee expenses incurred by the Company in effecting any registration pursuant to
 this Agreement, including (i) all registration, qualification, and filing fees, printing expenses, and any other fees and expenses
 associated with filings required to be made with the SEC, FINRA or any other regulatory authority, (ii) all fees and expenses in
 connection with compliance with or clearing the Registrable Securities for sale under any securities or "Blue Sky" laws,
 (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses, and (iv) all fees and disbursements
 of counsel for the Company and of all independent certified public accountants of the Company (including the expenses of any special
 audit and cold comfort letters required by or incident to such performance).

(d) "Registration
 Statement" means any registration statement of the Company filed with, or to be filed with, the SEC under the Securities Act,
 that Registers Registrable Securities, including the related prospectus, amendments and supplements to such registration statement,
 including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement
 as may be necessary to comply with applicable securities laws. "Registration Statement" shall also include a New Registration
 Statement, as amended when each became effective, including all documents filed as part thereof or incorporated by reference therein,
 and including any information contained in a prospectus subsequently filed with the SEC.

(e) "Selling
 Expenses" means all underwriting discounts and selling commissions applicable to the sale of Registrable Securities and all
 similar fees and commissions relating to the Investors' disposition of the Registrable Securities.

Section 1.02 <u>Interpretive Provisions</u>. The headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement. Terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa; the terms "Dollars" and "$" mean United States Dollars. Reference in this Agreement to gender shall include all genders, and words imparting the singular number only shall include the plural and vice versa. The use of the terms "hereunder," "hereof," "hereto" and words of similar import shall refer to this Agreement as a whole and not to any particular Article, Section or clause of or Exhibit, Annex or Schedule to this Agreement. The use of the terms "including" or "include" shall in all cases herein mean "including, without limitation" or "include, without limitation," respectively. With respect to the determination of any period of time, the word "from" means "from and including" and the words "to" and "until" each means "to but excluding." Reference to any Person includes such Person's predecessors, successors and assigns to the extent, in the case of successors and assigns, such successors and assigns are permitted by the terms of any applicable agreement however, that nothing contained herein is intended to authorize any assignment or transfer not otherwise permitted by this Agreement. Reference to a Person in a particular capacity excludes such Person in any other capacity or individually. Reference to any agreement (including this Agreement), document or instrument means such agreement, document or instrument as amended or modified and in effect from time to time in accordance with the terms thereof and, if applicable, the terms hereof. Reference to any Law means such Law as amended, modified, codified, replaced or re-enacted, in whole or in part, including rules, regulations, enforcement procedures and any interpretations promulgated thereunder. Underscored references to Articles, Sections, Exhibits or Schedules shall refer to those portions of this Agreement. In the event of a conflict between language or amounts contained in the body of this Agreement and language or amounts contained in the Exhibits attached hereto, the language or amounts in the body of the Agreement shall control.

**Article II. Registration**

Section 2.01 <u>Mandatory Registration</u>.The Company shall, as promptly as reasonably practicable and in any event no later than 45 days after the Closing Date (the "Filing Deadline"), prepare and file with the SEC an initial Registration Statement (the "Initial Registration Statement") covering the resale of all Registrable Securities. Before filing the Registration Statement, the Company shall furnish to the Investors a copy of the Registration Statement. The Investors and their counsel shall have at least three Business Days prior to the anticipated filing date of a Registration Statement to review and comment upon such Registration Statement and any amendment or supplement to such Registration Statement and any related prospectus, prior to its filing with the SEC. Subject to any SEC comments, such Registration Statement shall include the plan of distribution substantially in the form attached hereto as Exhibit A. The Company shall (a) use commercially reasonable efforts to address in each such document prior to being so filed with the SEC such comments as any Investor or its counsel reasonably proposed by the Investor, and (b) not file any Registration Statement or related prospectus or any amendment or supplement thereto containing information regarding each Investor to which such Investor reasonably objects, unless such information is required to comply with any applicable law or regulation. The Investors shall furnish all information reasonably requested by the Company and as shall be reasonably required in connection with any registration referred to in this Agreement.

Section 2.02 <u>Effectiveness</u>.The Company shall use its reasonable best efforts to have the Initial Registration Statement and any amendment declared effective by the SEC at the earliest possible date but no later than the earlier of the 90<sup>th</sup> calendar day following the initial filing date of the Initial Registration Statement if the SEC notifies the Company that it will "review" the Initial Registration Statement and (b) the fifth Business Day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that the Initial Registration Statement will not be "reviewed" or will not be subject to further review (the "Effectiveness Deadline"). The Company shall notify each Investor by e-mail as promptly as practicable, and in any event, within 24 hours, after the Registration Statement is declared effective or is supplemented and shall provide each Investor with copies of any related prospectus to be used in connection with the sale or other disposition of the securities covered thereby. The Company shall use reasonable best efforts to keep the Initial Registration Statement continuously effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale by the Investors of all of the Registrable Securities covered thereby at all times until the earliest to occur of the following events: (i) the date on which the Investors shall have resold all the Registrable Securities covered thereby; and (ii) the date on which the Registrable Securities may be resold by the Investors without registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance with the current public information requirement under Rule 144 under the Securities Act or any other rule of similar effect (the "Registration Period"). The Initial Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading.

Section 2.03 <u>Sufficient Number of Securities Registered</u>. In the event the number of securities available under the Initial Registration Statement at any time is insufficient to cover the Registrable Securities, the Company shall, to the extent necessary and permissible, amend the Initial Registration Statement or file a new registration statement (together with any prospectuses or prospectus supplements thereunder, a "New Registration Statement"), so as to cover all of such Registrable Securities as soon as reasonably practicable, but in any event not later than ten Business Days after the necessity therefor arises (the "New Registration Filing Deadline"). The Company shall use its reasonable best efforts to have such amendment and/or New Registration Statement become effective as soon as reasonably practicable following the filing thereof but no later than the earlier of the 90<sup>th</sup> calendar day following the initial filing date of the New Registration Statement if the SEC notifies the Company that it will "review" the New Registration Statement and (b) the fifth Business Day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that the New Registration Statement will not be "reviewed" or will not be subject to further review (the earlier of such dates, the "New Registration Effectiveness Deadline"). The provisions of Section 2.01 and Section 2.02 shall apply to the New Registration Statement, except as modified hereby.

Section 2.04 <u>Allowable Delays</u>. On no more than two occasions and for not more than 30 consecutive days or for a total of not more than 60 days in any 12 month period, the Company may delay the effectiveness of the Initial Registration Statement or any other Registration Statement, or suspend the use of any prospectus included in any Registration Statement, in the event that the Company determines in good faith that such delay or suspension is necessary to (A) delay the disclosure of material non-public information concerning the Company, the disclosure of which at the time is not, in the good faith opinion of the Company, in the best interests of the Company or (B) amend or supplement the affected Registration Statement or the related prospectus so that such Registration Statement or prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the case of the prospectus in light of the circumstances under which they were made, not misleading (an "Allowed Delay"); provided, that the Company shall promptly (a) notify each Investor in writing of the commencement of an Allowed Delay, but shall not (without the prior written consent of an Investor) disclose to such Investor any material non-public information giving rise to an Allowed Delay, (b) advise the Investors in writing to cease all sales under the Registration Statement until the end of the Allowed Delay and (c) use commercially reasonable efforts to terminate an Allowed Delay as promptly as practicable.

Section 2.05 <u>Rule 415; Cutback</u>.If at any time the SEC takes the position that the offering of some or all of the Registrable Securities in any Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act (provided, however, the Company shall be obligated to use reasonable best efforts to advocate with the SEC for the registration of all of the Registrable Securities) or requires any Investor to be named as an "underwriter," the Company shall (i) promptly notify each holder of Registrable Securities thereof and (ii) make commercially reasonable efforts to persuade the SEC that the offering contemplated by such Registration Statement is a valid secondary offering and not an offering "by or on behalf of the issuer" as defined in Rule 415 and that none of the Investors is an "underwriter." The Investors shall have the right to select one legal counsel, at such Investor's expense, to review and oversee any registration or matters pursuant to this Section 2.05, including participation in any meetings or discussions with the SEC regarding the SEC's position and to comment on any written submission made to the SEC with respect thereto. No such written submission with respect to this matter shall be made to the SEC to which any Investor's counsel reasonably objects. In the event that, despite the Company's reasonable best efforts and compliance with the terms of this Section 2.06, the SEC refuses to alter its position, the Company shall (i) remove from such Registration Statement such portion of the Registrable Securities (the "Cut Back Shares") and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Securities as the SEC may require to assure the Company's compliance with the requirements of Rule 415 (collectively, the "SEC Restrictions"); provided, however, that the Company shall not name any Investor as an "underwriter" in such Registration Statement without the prior written consent of such Investor (provided that, in the event an Investor withholds such consent, the Company shall have no obligation hereunder to include any Registrable Securities of such Investor in any Registration Statement covering the resale thereof until such time as the SEC no longer requires such Investor to be named as an "underwriter" in such Registration Statement or such Investor otherwise consents in writing to being so named). Any cut-back imposed on the Investors pursuant to this Section 2.06 shall be allocated among the Investors on a pro rata basis and shall be applied first to any of the Registrable Securities of such Investor as such Investor shall designate, unless the SEC Restrictions otherwise require or provide or the Investors otherwise agree. No liquidated damages shall accrue as to any Cut Back Shares until such date as the Company is able to effect the registration of such Cut Back Shares in accordance with any SEC Restrictions applicable to such Cut Back Shares (such date, the "Restriction Termination Date"). From and after the Restriction Termination Date applicable to any Cut Back Shares, all of the provisions of this Article II (including the Company's obligations with respect to the filing of a Registration Statement and its obligations to use reasonable efforts to have such Registration Statement declared effective within the time periods set forth herein and the liquidated damages provisions relating thereto) shall again be applicable to such Cut Back Shares; provided, however, that the date by which the Company is required to file the Registration Statement with respect to such Cut Back Shares shall be the tenth day following the Restriction Termination Date and the date by which the Company is required to have the Registration Statement effective with respect to such Cut Back Shares shall be the 55<sup>th</sup> day immediately after the Restriction Termination Date.

**Article III. Related Obligations**

Section 3.01 <u>Company Obligations</u>.With respect to the Registration Statement and whenever any Registrable Securities are to be Registered pursuant to Article II, including on the Initial Registration Statement or on any New Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Notifications</u>.
 The Company will promptly notify the Investors promptly of the time when any subsequent amendment to the Initial Registration Statement
 or any New Registration Statement, other than documents incorporated by reference, has been filed with the SEC and/or has become
 effective or where a receipt has been issued therefor or any subsequent supplement to a prospectus has been filed and of any request
 by the SEC for any amendment or supplement to the Registration Statement, any New Registration Statement or any prospectus or for
 additional information.

(b) <u>Amendments</u>.
 The Company will prepare and file with the SEC any amendments, post-effective amendments or supplements to the Initial Registration
 Statement, any New Registration Statement or any related prospectus, as applicable, that, (a) as may be necessary to keep such Registration
 Statement effective for the Effectiveness Period and to comply with the provisions of the Securities Act and the Securities Exchange
 Act of 1934, as amended (the "Exchange Act") with respect to the distribution of all of the Registrable Securities covered
 thereby, or (b) in the reasonable opinion of the Investors and the Company, as may be necessary or advisable in connection with any
 acquisition or sale of Registrable Securities by the Investors.

&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Investor Review</u>. The Company will not file any amendment or supplement to the Registration Statement, any New Registration Statement or
 any prospectus, other than documents incorporated by reference, relating to the Investors, the Registrable Securities or the transactions
 contemplated hereby unless (A) the Investors and their counsel shall have been advised and afforded the opportunity to review and
 comment thereon at least three (3) Business Days prior to filing with the SEC and (B) the Company shall have given reasonable due
 consideration to any comments thereon received from the Investors or their counsel.

(d) <u>Copies Available</u>. The Company will furnish to any Investor whose Registrable Securities are included in any Registration Statement and
 its counsel copies of the Initial Registration Statement, any prospectus thereunder (including all documents incorporated by reference
 therein), any prospectus supplement thereunder, any New Registration Statement and all amendments to the Initial Registration Statement
 or any New Registration Statement that are filed with the SEC during the Registration Period (including all documents filed with
 or furnished to the SEC during such period that are deemed to be incorporated by reference therein), each letter written by or on
 behalf of the Company to the SEC or the staff of the SEC, and each item of correspondence from the SEC or the staff of the SEC, in
 each case relating to such Registration Statement (other than any portion thereof which contains information for which the Company
 has sought confidential treatment) and such other documents as Investor may reasonably request
 in order to facilitate the disposition of the Registrable Securities owned by Investor that are covered by such Registration Statement ,
 in each case as soon as reasonably practicable upon such Investor's request and in such quantities as such Investor may from
 time to time reasonably request; provided, however, that the Company shall not be required to furnish any document to each Investor
 to the extent such document is available on EDGAR.

(e) <u>Notification of Stop Orders; Material Changes</u>. The Company shall use commercially reasonable efforts to (i) prevent the issuance of any stop
 order or other suspension of effectiveness and, (ii) if such order is issued, obtain the withdrawal of any such order as soon as
 practicable. The Company shall advise the Investors promptly (but in no event later than 24 hours) and shall confirm such advice
 in writing, in each case: (i) of the Company's receipt of notice of any request by the SEC or any other federal or state governmental
 authority for amendment of or a supplement to the Registration Statement or any prospectus or for any additional information; (ii)
 of the Company's receipt of notice of the issuance by the SEC or any other federal or state governmental authority of any stop
 order suspending the effectiveness of the Initial Registration Statement or prohibiting or suspending the use of any prospectus or
 prospectus supplement, or any New Registration Statement, or of the Company's receipt of any notification of the suspension
 of qualification of the Registrable Securities for offering or sale in any jurisdiction or the initiation or contemplated initiation
 of any proceeding for such purpose; and (iii) of the Company becoming aware of the happening of any event, which makes any statement
 of a material fact made in any Registration Statement or any prospectus untrue or which requires the making of any additions to or
 changes to the statements then made in any Registration Statement or any prospectus in order to state a material fact required by
 the Securities Act to be stated therein or necessary in order to make the statements then made therein (in the case of any prospectus,
 in light of the circumstances under which they were made) not misleading, or of the necessity to amend any Registration Statement
 or any prospectus to comply with the Securities Act or any other law. The Company shall not be required to disclose to the Investors
 the substance of specific reasons of any of the events set forth in clause (i) to (iii) of the immediately preceding sentence (each,
 a "Suspension Event"), but rather, shall only be required to disclose that the event has occurred. If at any time the
 SEC, or any other federal or state governmental authority shall issue any stop order suspending the effectiveness of any Registration
 Statement or prohibiting or suspending the use of any prospectus or prospectus supplement, the Company shall use its reasonable best
 efforts to obtain the withdrawal of such order at the earliest practicable time. The Company shall furnish to the Investors, without
 charge, a copy of any correspondence from the SEC or the staff of the SEC, or any other federal or state governmental authority to
 the Company or its representatives relating to the Initial Registration Statement, any New Registration Statement or any prospectus,
 or prospectus supplement as the case may be. In the event of a Suspension Event set forth in clause (iii) of the first sentence of
 this Section 3.01(e), the Company will use its commercially reasonable efforts to publicly disclose such event as soon as reasonably
 practicable, or otherwise resolve the matter such that sales under Registration Statements may resume; provided, however, that if
 the Company has a bona fide business purpose for not making such information public, the Company may suspend the use of all Registration
 Statements for up to 60 consecutive calendar days; provided, further, that the Company may not suspend the use of all Registration
 Statements more than twice, or for more than 90 total calendar days, in each case during any twelve-month period .

&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Confirmation of Effectiveness</u>. If reasonably requested by an Investor at any time in respect of any Registration Statement, the Company shall
 deliver to such Investor a written confirmation from Company's counsel of whether or not the effectiveness of such Registration
 Statement has lapsed at any time for any reason (including, without limitation, the issuance of a stop order) and whether or not
 such Registration Statement is currently effective and available to the Company for sale of Registrable Securities.

(g) <u>Listing</u>.
 The Company shall use best efforts to cause all Registrable Securities covered by a Registration Statement to be listed on the Nasdaq
 Stock Market LLC.

(h) <u>Compliance</u>.
 The Company shall otherwise use best efforts to comply with all applicable rules and regulations of the SEC under the Securities
 Act and the Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final prospectus, including
 any supplement or amendment thereof, with the SEC pursuant to Rule 424 under the Securities Act, promptly inform each Investor in
 writing if, at any time during the Effectiveness Period, the Company does not satisfy the conditions specified in Rule 172 and, as
 a result thereof, any Investor is required to deliver a prospectus in connection with any disposition of Registrable Securities and
 take such other actions as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder, and
 make available to its security holders, as soon as reasonably practicable, but not later than the Availability Date (as defined below),
 an earnings statement covering a period of at least 12 months, beginning after the effective date of each Registration Statement,
 which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act, including Rule 158 promulgated thereunder
 (for the purpose of this Section 3.01(h), "Availability Date" means the 45<sup>th</sup> day following the end of the
 fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if such fourth fiscal quarter
 is the last quarter of the Company's fiscal year, "Availability Date" means the 90<sup>th</sup> day after the end
 of such fourth fiscal quarter).

&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Blue-Sky</u>.
 The Company shall register or qualify or cooperate with each Investor and their counsel in connection with the registration or qualification
 of such Registrable Securities for the offer and sale under the securities or blue sky laws of such jurisdictions reasonably requested
 by the Investor; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (i)
 qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3.01(i), (ii)
 subject itself to general taxation in any jurisdiction where it would not otherwise be so subject but for this Section 3.01(i), or
 (iii) file a general consent to service of process in any such jurisdiction.

(j) <u>Rule 144</u>. With a view to making available to the Investors the benefits of Rule 144 (or its successor rule) and any other rule or
 regulation of the SEC that may at any time permit the Investors to sell Common Stock to the public without registration, the Company
 covenants and agrees to: (i) make and keep adequate current public information available, as those terms are understood and defined
 in Rule 144, until the earlier of (A) six months after such date as all of the Registrable Securities may be sold without restriction
 by the holders thereof pursuant to Rule 144 or any other rule of similar effect or (B) such date as there are no longer Registrable
 Securities; and (ii) file with the SEC in a timely manner all reports and other documents required of the Company under the Exchange
 Act; (iii) furnish electronically to each Investor upon request, as long as such Investor owns any Registrable Securities, (A) a
 written statement by the Company that it has complied with the reporting requirements of the Exchange Act, (B) a copy of or electronic
 access to the Company's most recent Annual Report on Form 20-F or interim financial statements on Form 6-K, and (C) such other
 information as may be reasonably requested in order to avail such Investor of any rule or regulation of the SEC that permits the
 selling of any such Registrable Securities without registration.

(k) <u>Cooperation</u>.
 The Company shall cooperate with the holders of the Registrable Securities to facilitate the timely preparation and delivery of certificates
 or uncertificated shares representing the Registrable Securities to be sold pursuant to such Registration Statement or Rule 144 free
 of any restrictive legends and representing such number of Common Stock and registered in such names as the holders of the Registrable
 Securities may reasonably request to the extent permitted by such Registration Statement or Rule 144 to effect sales of Registrable
 Securities ; for the avoidance of doubt, the Company may satisfy its obligations hereunder without issuing physical share certificates
 through the use of The Depository Trust Company's Direct Registration System.

Section 3.02 <u>Obligations of the Investors</u>. The Investors shall have the following obligations:

&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Investor Information</u>. Each Investor shall provide a completed Investor Questionnaire in the form attached hereto as <u>Exhibit B</u> in
 connection with the registration of the Registrable Securities. If the Company has not received such completed Questionnaire from
 an Investor within three business days of the Company's request, the Company may file the Registration Statement without including
 such Investor's Registrable Securities.

(b) <u>Suspension of Sales</u>. Each Investor, severally and not jointly with any other Investor, agrees that, upon receipt of any notice from the Company
 of the existence of Suspension Event as set forth in Section 3.01(e), each Investor will immediately discontinue disposition of Registrable
 Securities pursuant to any Registration Statement covering such Registrable Securities until the Investor's receipt of a notice
 from the Company confirming the resolution of such Suspension Event and that such dispositions may again be made.

(c) <u>Investor Cooperation</u>. Each Investor, severally and not jointly with any other Investor, agrees to cooperate with the Company as
 reasonably requested by the Company in connection with the preparation and filing of any amendments and supplements to any Registration
 Statement or New Registration Statement hereunder, unless such Investor has notified the Company in writing of its election to exclude
 all of its Registrable Securities from such Registration Statement.

**Article IV. Additional Agreements**

Section 4.01 <u>Expenses</u>. All Registration Expenses incurred in connection with registrations pursuant to this Agreement shall be borne by the Company. All Selling Expenses relating to securities registered on behalf of the Investors shall be borne by the Investors pro rata on the basis of the number of Registrable Securities so registered.

Section 4.02 <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) To
 the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investors, each Person,
 if any, who controls the Investors, the members, the directors, officers, partners, employees, members, managers, agents, representatives
 and advisors of the Investors and each Person, if any, who controls the Investors within the meaning of the Securities Act or the
 Exchange Act (each, an "Indemnified Person"), against any losses, obligation, claims, damages, liabilities, contingencies,
 judgments, fines, penalties, charges, costs (including, without limitation, court costs and costs of preparation), reasonable and
 documented attorneys' fees, amounts paid in settlement or reasonable and documented expenses, (collectively, "Claims")
 reasonably incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal
 taken from the foregoing by or before any court or governmental, administrative or other regulatory agency or body or the SEC, whether
 pending or threatened, whether or not an indemnified party is or may be a party thereto ("Indemnified Damages"), to which
 any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof)
 arise out of or are based upon: (i) any untrue statement or alleged untrue statement or omission or alleged omission of any material
 fact contained in any Registration Statement, any preliminary prospectus or final prospectus, or any amendment or supplement thereof,
 or (ii) any violation or alleged violation by the Company or any of its Subsidiaries of the Securities Act, Exchange Act or any other
 state securities or other "blue sky" laws of any jurisdiction in which Registrable Securities are offered or any rule
 or regulation promulgated thereunder applicable to the Company or its agents and relating to action or inaction required of the Company
 in connection with such registration of the Registrable Securities (the matters in the foregoing clauses (i) and (ii) being, collectively,
 "Violations"). The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due
 and payable, for any reasonable out-of-pocket legal fees or other reasonable and documented expenses incurred by them in connection
 with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement
 contained in this Section 4.02: (A) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation
 which occurs in reliance upon and in conformity with information furnished in writing to the Company by the Investors or such Indemnified
 Person specifically for use in such Registration Statement or prospectus and was reviewed and approved in writing by such Investor
 or such Indemnified Person expressly for use in connection with the preparation of any Registration Statement, any prospectus or
 any such amendment thereof or supplement thereto, if such in each case if the foregoing was timely made available by the Company;
 (B) with respect to any superseded prospectus, shall not inure to the benefit of any such Person from whom the Person asserting any
 such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any other Indemnified Person)
 if the untrue statement or omission of material fact contained in the superseded prospectus was corrected in the revised prospectus,
 as then amended or supplemented, and the Indemnified Person was promptly advised in writing not to use the outdated, defective or
 incorrect prospectus prior to the use giving rise to a violation; (C) shall not apply to amounts paid in settlement of any Claim
 if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld,
 conditioned or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf
 of the Indemnified Person and shall survive the transfer of the Registrable Securities by any Investor pursuant to Section 4.03.

&nbsp;&nbsp;&nbsp;&nbsp;(b) In
 connection with the Initial Registration Statement, any New Registration Statement or any prospectus, the Investors, severally and
 not jointly, agree to indemnify, hold harmless and defend, the Company, each of its directors, each of its officers who signed the
 Initial Registration Statement or signs any New Registration Statement, each Person, if any, who controls the Company within the
 meaning of the Securities Act or the Exchange Act (each, an "Indemnified Party"), against any losses, claims, damages,
 liabilities and expense (including reasonable attorney fees) resulting from any Violation, in each case to the extent, and only to
 the extent, that such Violation occurs in reliance upon and in conformity with information about an Investor furnished in writing
 by such Investor to the Company and reviewed and approved in writing by such Investor or such Indemnified Person expressly for use
 in connection with the preparation of the Registration Statement, any New Registration Statement, any prospectus or any such amendment
 thereof or supplement thereto. In no event shall the liability of an Investor be greater in amount than the dollar amount of the
 proceeds (net of all expense paid by such Investor in connection with any claim relating to this Section 4.02 and the amount of any
 damages such Investor has otherwise been required to pay by reason of such untrue statement or omission) received by such Investor
 upon the sale of the Registrable Securities included in such Registration Statement giving rise to such indemnification obligation.
 Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party
 and shall survive the transfer of the Registrable Securities by any Investor pursuant to Section 4.03.

(c) Promptly
 after receipt by an Indemnified Person or Indemnified Party under this Section 4.02 of notice of the commencement of any action or
 proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
 if a Claim in respect thereof is to be made against any indemnifying party under this Section 4.02, deliver to the indemnifying party
 a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent
 the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense
 thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the
 case may be, and upon such notice, the indemnifying party shall not be liable to the Indemnified Person or the Indemnified Party
 for any legal or other expenses subsequently incurred by the Indemnified Person or the Indemnified Party in connection with the defense
 thereof; provided, however, that an Indemnified Person or Indemnified Party (together with all other Indemnified Persons and Indemnified
 Parties that may be represented without conflict by one counsel) shall have the right to retain its own counsel with the reasonable
 fees and expenses to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party,
 the representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate
 due to actual or potential differing interests between such Indemnified Person or Indemnified Party and any other party represented
 by such counsel in such proceeding. The Indemnified Party or Indemnified Person shall cooperate with the indemnifying party in connection
 with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party
 all information reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim. The indemnifying
 party shall keep the Indemnified Party or Indemnified Person fully apprised as to the status of the defense or any settlement negotiations
 with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without
 its written consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent.
 No indemnifying party shall, without the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment
 or enter into any settlement or other compromise unless such judgment or settlement (i) imposes no liability or obligation on, (ii)
 includes as an unconditional term thereof the giving of a complete, explicit and unconditional release from the party bringing such
 indemnified claims of all liability of the Indemnified Party or Indemnified Person in respect to or arising out of such claim or
 litigation in favor of, and (iii) does not include any admission of fault, culpability, wrongdoing, or wrongdoing or malfeasance
 by or on behalf of, the Indemnified Party or Indemnified Person.. Following indemnification as provided for hereunder, the indemnifying
 party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or
 corporations relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying
 party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability
 to the Indemnified Person or Indemnified Party under this Section 4.02, except to the extent that the indemnifying party is prejudiced
 in its ability to defend such action.

(d) The
 indemnification required by this Section 4.02 shall be made by periodic payments of the amount thereof during the course of the investigation
 or defense, as and when bills are received or Indemnified Damages are incurred. Any Person receiving a payment pursuant to this Section
 4.02 which person is later determined to not be entitled to such payment shall return such payment (including reimbursement of expenses)
 to the person making it.

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
 indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or
 Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant
 to the law.

(f) To
 the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the
 maximum contribution with respect to any amounts for which it would otherwise be liable under this Section 4.02 to the fullest extent
 permitted by law; provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within
 the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who
 was not guilty of fraudulent misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in
 amount to the net amount of proceeds (net of all expenses paid by such holder in connection with any claim relating to this Section
 4.02(f) and the amount of any damages such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement
 or omission or alleged omission) received by such seller from the sale of such Registrable Securities giving rise to such contribution
 obligation.

Section 4.03 <u>Assignment of Registration Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company shall not assign this Agreement or any rights or obligations hereunder (whether by operation of law or otherwise) without
 the prior written consent of the Investors holding a majority of the Registrable Securities then outstanding (determined as if all
 of the Warrants then outstanding have been exercised without regard to any limitations on the exercise of such Warrants); provided,
 however, that in any transaction, whether by merger, reorganization, restructuring, consolidation, financing or otherwise, whereby
 the Company is a party and in which the Registrable Securities are converted into the equity securities of another Person, from and
 after the effective time of such transaction, such Person shall, by virtue of such transaction, be deemed to have assumed the obligations
 of the Company hereunder, the term "Company" shall be deemed to refer to such Person and the term "Registrable
 Securities" shall be deemed to include the securities received by the Investors in connection with such transaction unless
 such securities are otherwise freely tradable by the Investor after giving effect to such transaction, and the prior written consent
 of the Investors holding a majority of the Registrable Securities then outstanding (determined as if all of the Warrants then outstanding
 have been exercised without regard to any limitations on the exercise of such Warrants) shall not be required for such transaction.

(b) An
 Investor may transfer or assign its rights hereunder, in whole or from time to time in part, to one or more Persons in connection
 with the transfer of all of the Registrable Securities by such Investor to such Person, provided that such Investor complies with
 all laws applicable thereto, and the provisions of the Purchase Agreement, and provides written notice of assignment to the Company
 promptly after such assignment is effected, and such Person agrees in writing to be bound by all of the provisions contained herein.

(c) The
 provisions of this Agreement shall be binding upon and inure to the benefit of Parties and their respective successors and permitted
 assigns.

Section 4.04 <u>Amendments and Waivers</u>. The provisions of this Agreement, including the provisions of this sentence, may be amended, modified or supplemented, or waived only by a written instrument executed by (i) the Company and (ii) the holders of a majority of the then outstanding Registrable Securities (determined as if all of the Warrants then outstanding have been exercised without regard to any limitations on the exercise of such Warrants), provided that any Party may give a waiver as to itself and provided further that any amendment, modification, supplement or waiver that disproportionately and adversely affects the rights and obligations of any Investor relative to the comparable rights and obligations of the other Investors shall require the prior written consent of such adversely affected Investor or each Investor, as applicable. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of one or more Investors and that does not adversely directly or indirectly affect the rights of other Investors may be given by Investors holding all of the Registrable Securities to which such waiver or consent relates.

**Article V. Miscellaneous**

Section 5.01 <u>Notices</u>. Any notices or other communications required or permitted to be given hereunder shall be in writing and shall be given in accordance with the provisions of the applicable Purchase Agreement.

Section 5.02 <u>Waiver</u>. No waiver of any term, provision or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or be construed as, a further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement.

Section 5.03 <u>Governing Law; Etc</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 Agreement, and any and all claims, proceedings or causes of action relating to this Agreement or arising from this Agreement or the
 transactions contemplated herein, including, without limitation, tort claims, statutory claims and contract claims, shall be interpreted,
 construed, governed and enforced under and solely in accordance with the substantive and procedural laws of the State of Delaware,
 in each case as in effect from time to time and as the same may be amended from time to time, and as applied to agreements performed
 wholly within the State of Delaware.

(b) SUBJECT
 TO THE PROVISIONS OF THE PURCHASE AGREEMENT RELATED TO DISPUTE RESOLUTIONS, ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR
 BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS SHALL BE INSTITUTED SOLELY IN THE STATE OF NEVADA
 COURTS OR THE FEDERAL COURTS OF THE UNITED STATES WITH JURISDICTION IN Humboldt County, Nevada AND EACH PARTY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. THE PARTIES
 IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND
 IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH
 COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

&nbsp;&nbsp;&nbsp;&nbsp;(c) EACH
 PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
 DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS, THE PERFORMANCE THEREOF OR THE FINANCINGS
 CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE,
 AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
 SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 5.03(c).

Section 5.04 <u>Further Assurances</u>. Each Party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents as any other Party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

Section 5.05 <u>Contract Interpretation</u>. This Agreement is the joint product of each Investor and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement of such Parties and shall not be construed for or against any Party.

Section 5.06 <u>No Third Party Beneficiaries</u>. Nothing in this Agreement, express or implied, is intended to confer on any Person other than the Parties and any rights, remedies, claims, benefits, obligations or liabilities under or by reason of this Agreement, and no Person that is not a party to this Agreement (including, without limitation, any partner, member, shareholder, director, officer, employee or other beneficial owner of any Party, in its own capacity as such or in bringing a derivative action on behalf of a Party) shall have any standing as a third party beneficiary with respect to this Agreement or the transactions contemplated hereby.

Section 5.07 <u>Severability</u>. If any part or provision of this Agreement is held unenforceable or in conflict with the applicable laws or regulations of any jurisdiction, the invalid or unenforceable part or provisions shall be replaced with a provision which accomplishes, to the extent possible, the original business purpose of such part or provision in a valid and enforceable manner, and the remainder of this Agreement shall remain binding upon the Parties.

Section 5.08 <u>Non-Recourse</u>. Notwithstanding anything that may be expressed or implied in this Agreement, the Company covenants, agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee, stockholder, general or limited partner or member of the Investors or of any affiliates or assignees thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future director, officer, employee, stockholder, general or limited partner or member of the Investors or of any affiliates or assignees thereof, as such for any obligation of the Investors under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation.

Section 5.09 <u>Specific Performance</u>.<u> </u>Each Party agrees that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that each Party shall be entitled to seek specific performance of the terms and agreements in this Agreement and in the Warrant, in addition to any other remedy at law or in equity.

Section 5.10 <u>Cumulative Remedies</u>. The remedies provided herein are cumulative and not exclusive of any remedies provided by law.

Section 5.11 <u>Counterparts</u>. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

*[Signature Page Follows]*

 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of date first written above.

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| | |
|:---|:---|
| Hycroft Mining Holding Corporation | Hycroft Mining Holding Corporation |
| By: |  |
| Name: | Diane R. Garrett |
| Title: | President and Chief Executive Officer |

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*[Signature Page to Registration Rights Agreement]*

IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of date first written above.

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| |
|:---|
| INVESTOR: |
| [NAME] |
| By: |
| Name: |
| Title: |

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*[Signature Page to Registration Rights Agreement]*

<u>Exhibit A</u>

PLAN OF DISTRIBUTION

The selling securityholders, which as used herein includes donees, pledgees, transferees or other successors-in-interest selling Common Stock or interests in Common Stock received after the date of this prospectus from a selling securityholder as a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their Common Stock or interests in Common Stock on any stock exchange, market or trading facility on which the Common Stock are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.

The selling securityholders may use any one or more of the following methods when disposing of Common Stock or interests therein:

● distributions to members, partners, stockholders or other equityholders of the selling securityholders;

● ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

● block trades in which the broker-dealer will attempt to sell the Common Stock as agent, but may position and resell a portion of the block as principal to facilitate the transaction;

● purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

● an exchange distribution in accordance with the rules of the applicable exchange;

● privately negotiated transactions;

● short sales and settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part;

● through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

● broker-dealers may agree with the selling securityholders to sell a specified number of such shares at a stipulated price per Common Share;

● a combination of any such methods of sale; and

● any other method permitted pursuant to applicable law.

The selling securityholders may, from time to time, pledge or grant a security interest in some or all of the Common Stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Common Stock, from time to time, under this prospectus, or under an amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act, amending the list of selling securityholders to include the pledgee, transferee or other successors in interest as selling securityholders under this prospectus. The selling securityholders also may transfer the Common Stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling securityholders for purposes of this prospectus.

Exhibit A - Page 1

In connection with the sale of our Common Stock or interests therein, the selling securityholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Common Stock in the course of hedging the positions they assume. The selling securityholders may also sell our Common Stock short and deliver these securities to close out their short positions, or loan or pledge the Common Stock to broker-dealers that in turn may sell these securities. The selling securityholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The aggregate proceeds to the selling securityholders from the sale of the Common Stock offered by them will be the purchase price of the Common Stock less discounts or commissions, if any. Each of the selling securityholders reserves the right to accept and, together with their agents from time to time, to reject, in whole or in part, any proposed purchase of Common Stock to be made directly or through agents. We will not receive any of the proceeds from this offering. Upon any exercise of the Warrants by payment of cash, however, we will receive the exercise price of the Warrants.

The selling securityholders also may resell all or a portion of the Common Stock in open market transactions in reliance upon Rule 144 under the Securities Act, provided that they meet the criteria and conform to the requirements of that rule, or another available exemption from the registration requirements under the Securities Act.

The selling securityholders and any underwriters, broker-dealers or agents that participate in the sale of the Common Stock or interests therein may be "underwriters" within the meaning of Section 2(a)(11) of the Securities Act (it being understood that the selling securityholders shall not be deemed to be underwriters solely as a result of their participation in this offering). Any discounts, commissions, concessions or profit they earn on any resale of the Common Stock may be underwriting discounts and commissions under the Securities Act. Selling securityholders who are "underwriters" within the meaning of Section 2(a)(11) of the Securities Act will be subject to the prospectus delivery requirements of the Securities Act.

To the extent required, the Common Stock to be sold, the names of the selling securityholders, the respective purchase prices and public offering prices, the names of any agent, dealer or underwriter, and any applicable commissions or discounts with respect to a particular offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus.

In order to comply with the securities laws of some states, if applicable, the Common Stock may be sold in these jurisdictions only through registered or licensed brokers or dealers. In addition, in some states the Common Stock may not be sold unless such securities have been registered or qualified for sale or an exemption from registration or qualification requirements is available and is complied with.

We have advised the selling securityholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of Common Stock in the market and to the activities of the selling securityholders and their affiliates. In addition, to the extent applicable, we will make copies of this prospectus (as it may be supplemented or amended from time to time) available to the selling securityholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The selling securityholders may indemnify any broker-dealer that participates in transactions involving the sale of the Common Stock against certain liabilities, including liabilities arising under the Securities Act.

We have agreed to indemnify the selling securityholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the registration of the Common Stock offered by this prospectus.

We have agreed with the selling securityholders to use commercially reasonable efforts to cause the registration statement of which this prospectus constitutes a part to become effective and to remain continuously effective until the earlier of: (i) the date on which the selling securityholders shall have resold or otherwise disposed of all the Common Stock covered by this prospectus and (ii) the date on which the Common Stock covered by this prospectus no longer constitute "Registrable Securities" as such term is defined in the Registration Rights Agreement, such that they may be resold by the selling securityholders without registration and without regard to any volume or manner-of-sale limitations and without current public information pursuant to Rule 144 under the Securities Act or any other rule of similar effect.

Exhibit A - Page 2

<u>Exhibit B</u>

Investor Questionnaire

The undersigned hereby provides the following information to the Company and represents and warrants that such information is accurate:

QUESTIONNAIRE

1. Name.

(a) Full
 Legal Name of Investor

(b) Full
 Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities are held:

(c) Full
 Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote
 or dispose of the securities covered by this Questionnaire):

2. Address for Notices to Investor:

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| |
|:---|
| Telephone: ______________________________________________________________________________________ |
| E-Mail: _________________________________________________________________________________________ |
| Contact Person: |

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Exhibit B - Page 1

3. Broker-Dealer Status:

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| | |
|:---|:---|
| (a) | Are you a broker-dealer? |
|  | Yes ☐ No ☐ |
| (b) | If "yes" to Section 3(a), did you receive your Registrable Securities as compensation for investment banking services to the Company? |
|  | Yes ☐ No ☐ |
| Note: | If "no" to Section 3(b), the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement. |
| (c) | Are you an affiliate of a broker-dealer? |
|  | Yes ☐ No ☐ |
| (d) | If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities? |
|  | Yes ☐No ☐ |
| Note: | If "no" to Section 3(d), the Commission's staff has indicated that you should be identified as an underwriter in the Registration Statement. |

---

4. Beneficial Ownership of Securities of the Company Owned by the Investor.

*Except as set forth below in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the securities issuable pursuant to the Purchase Agreement.*

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Type
 and Amount of other securities beneficially owned by the Investor:

5. Relationships with the Company:

*Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.*

 

State any exceptions here:

Exhibit B - Page 2

The undersigned agrees to promptly notify the Company of any material inaccuracies or changes in the information provided herein that may occur subsequent to the date hereof at any time while the Registration Statement remains effective; provided, that the undersigned shall not be required to notify the Company of any changes to the number of securities held or owned by the undersigned or its affiliates.

By signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement and the related prospectus and any amendments or supplements thereto.

IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized agent.

---

| | |
|:---|:---|
| Date: | Beneficial Owner: |
|  | By: |
|  | Name: |
|  | Title: |

---

PLEASE EMAIL A .PDF COPY OF THE COMPLETED AND EXECUTED QUESTIONNAIRE TO:

Hycroft Mining Holding Corporation

Email: rebecca.jennings@hycroftmining.com

Exhibit B - Page 3

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Hycroft Announces US$60 Million Non-brokered Private Placement**

**Priced At-The-Market Under Nasdaq Rules**

***Silver Designated a Critical Mineral by the U.S. Government***

**WINNEMUCCA, NV, September 2, 2025** – **Hycroft Mining Holding Corporation (Nasdaq: HYMC) ("Hycroft" or the "Company")** is pleased to announce a non-brokered private placement (the **"Private Placement"**), priced at-the-market under Nasdaq rules, consisting of 14,017,056 units ("Units") at a price of U.S. $4.2805 per Unit for aggregate proceeds of U.S. $60 million. Each Unit will be comprised of one share of common stock of the Company and one-half of one common stock purchase warrant (each whole warrant, a **"Warrant")**. Each Warrant will be exercisable to purchase one share of common stock of the Company at a price of U.S. $6.00 per share for a period of 24 months with an accelerator provision.

The Private Placement is being primarily subscribed to by Eric Sprott through 2176423 Ontario Ltd., a corporation beneficially owned by him (approximately 66% of the placement) and approximately 34% of the placement is being subscribed to by Tribeca Global Natural Resources Ltd. (**"Tribeca"**). Upon closing, Mr. Sprott's beneficial ownership position in Hycroft increases from approximately 21% to 33%, and Tribeca will own approximately 8%.

Diane Garrett, President and CEO, stated: "We are very pleased with the strong support for Hycroft by Mr. Sprott and Tribeca. Mr. Sprott has been a valued supporter of the Company for several years. His ongoing commitment has been instrumental to the Company's advancement and enables us to accelerate development activities at the Hycroft Mine and continue exploration drilling to expand the two new high-grade silver systems. We welcome our newest shareholder, Tribeca, and we look forward to working closely with them to continue creating value at Hycroft.

The new silver growth story at Hycroft is taking shape at a pivotal moment - silver prices have reached 15-year highs and silver was recently designated as a critical mineral by the U.S. Government, elevating its status from a traditional precious and industrial metal to a strategic resource vital for national security and the economy. This reclassification was prompted by the surging industrial demand for silver and concerns about the ability of global supply to meet that growing demand. Hycroft, among the world's largest gold and silver deposits, recently discovered two new high-grade silver systems and returned some of the best holes ever drilled in its more than 40-year history. With the significant financial backing by Mr. Sprott and Tribeca, Hycroft is uniquely positioned to unlock substantial value and deliver long-term growth for our shareholders. On behalf of Hycroft Management and the Board of Directors, I want to express our sincere gratitude to all our shareholders for their continued support - including those who participated in our June 13, 2025, financing round in which Mr. Sprott played a key role. Together, we are laying a stronger foundation for future success and value creation."

![](ex99-1_002.jpg)

Hycroft intends to use the proceeds of the Private Placement to fund advancement of its Hycroft Mine and for working capital and general corporate purposes. The Private Placement is subject to the satisfaction of customary closing conditions, with closing anticipated by September 10, 2025.

The shares of common stock and warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the shares of common stock, warrants and the shares of common stock underlying the warrants may not be offered or sold in the United States absent registration with the Securities and Exchange Commission ("SEC") or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the warrants (the "Resale Registration Statement").

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

***About Tribeca Natural Resources Ltd.***

Tribeca Global Natural Resources Ltd. are a specialist resources investor based in Sydney and Singapore. The fund manages capital on behalf of a number of institutional investors and family offices in the Asia pacific region. Tribeca have cornerstone over US$10 billion of transactions within the metals and mining space over the last decade and are a long-term investor.

***About Hycroft Mining Holding Corporation***

Hycroft Mining Holding Corporation is a U.S.-based gold and silver company exploring and developing the Hycroft Mine, one of the world's largest precious metals deposits located in northern Nevada, a Tier-1 mining jurisdiction. After a long history of oxide heap leaching operations, the Company is focused on completing the technical studies to transition the Hycroft Mine into a milling operation for processing the sulfide ore. In addition, the Company is engaged in a robust exploration drill program to unlock the full potential of our expansive +64,000-acre land package, of which less than 10% has been explored. In 2023 continuing in 2024, Hycroft announced the discovery of two new high-grade silver systems within the known resource area. These discoveries represent a significant new value driver for the Hycroft Mine that the Company is following up on with additional drilling in 2025 and 2026.

![](ex99-1_002.jpg)

For further information, please contact:

<u>info@hycroftmining.com</u>

<u>www.hycroftmining.com</u>

**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" outlined in our Annual Report on Form 10-K for the year ended December 31, 2024, 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 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.

![](ex99-1_002.jpg)