Kim Spencer McPhee Barristers, P.C. Announces That The Hycroft Gold Corp. Securities Class Action Settlement Approval Hearing to Be Held July 30, 2021

Read this Notice as it may affect your legal rights

This Notice is directed to: All persons and entities, other than Excluded Persons¹, who purchased Allied Nevada Gold Corp. n/k/a Hycroft Mining Corp. (“Hycroft”) common shares pursuant to the secondary public offering by way of a final short-form prospectus dated May 9, 2013, during its distribution period ending May 17, 2013, and continued to hold those common shares until July 22, 2013 (the “Class” and “Class Member(s)”)

¹“Excluded Persons” means the Defendants and the individual Defendants’ immediate family members, and persons or entities that properly opt-out of the Settlement Class.

TORONTO--(BUSINESS WIRE)--Kim Spencer McPhee Barristers, P.C. today announces that the Ontario Superior Court of Justice (the “Court”) has scheduled a hearing to be held on July 30, 2021, at 10:00 am EST [via video conference] to approve a settlement among all of the parties to the class proceeding styled as LBP Holdings Ltd. v. Allied Nevada Gold Corp, Scott A. Caldwell, Robert M. Buchan, Cormark Securities Inc., and Dundee Securities Limited. brought under the Court under Court File No. CV-14-50851300-CP (the “Action”)

The substance of the litigation (i.e. that the Defendants made misrepresentations in a 2013 short-form prospectus (the “Prospectus”) released May 9, 2013 concerning a secondary public offering) has not been adjudicated by the Court. The Defendants deny the allegations.

This lawsuit alleges that the Prospectus contained misrepresentations about the Company’s business and operations at its Hycroft Mine. The lawsuit further alleges that when the Company issued statements correcting these misrepresentations on July 22, and August 6 and 7, 2013, the price of Hycroft’s stock declined to reflect the true state of events, thereby harming Class Members. The Settlement Agreement may be viewed at https://morgantico.com/hycroft-mining-corporation/ or at www.CanadianAlliedNevadaSecuritiesSettlement.ca.

YOUR TWO OPTIONS:

1. Do Nothing and Remain in the Class Action:

Class Members are automatically included in the action once certified if they do not opt-out. You do not need to do anything at this time to stay in the Class Action. If a settlement or any recovery or benefits are achieved for the Class and approved by the Court, you will be notified about how to ask for the portion to which you are entitled. You will be legally bound by all orders and judgments of the Court, and you will not be able to sue the Defendants on your own regarding the legal claims made in this case. You will NOT be required to pay any costs in the event that this Class Action is unsuccessful.

2. Opt-Out of the Class Action:

All Class Members will be bound by all orders and judgments of the Court and any settlement reached unless they opt-out of the action. If you wish to pursue your own action or do not want to be bound by the outcome of the Class Action, YOU MUST OPT-OUT OF THE CLASS ACTION.

If you want to opt-out of the Action, you must send an OPT-OUT FORM stating that you elect to opt-out of the Class in the Hycroft Gold Class Action.

The Opt-Out Form is available at www.CanadianAlliedNevadaSecuritiesSettlement.ca

The Opt-Out Form must be sent by prepaid mail, email or fax to:

Trilogy Class Action Services,
117 Queen Street, P.O. Box 1000,
Niagara-on-the-Lake, Ontario, L0S 1J0,
Email: [e-mail],
Toll-Free: 1877-400-1211, Fax: [phone],
Attention: Hycroft Class Action

The Opt-Out Form must be received on or before July 2, 2021 at 5:00pm E.S.T.

A copy of the long-form notice providing greater detail about the certification and your right to opt-out of the action is available at https://morgantico.com/hycroft-mining-corporation/ or www.CanadianAlliedNevadaSecuritiesSettlement.ca.

Class members who seek the advice or guidance of their personal lawyers do so at their own expense.

This notice has been approved by the Court. Questions about matters in this notice should NOT be directed to the Court.