General Moly intends to use the net proceeds from this offering for general corporate purposes, including the ongoing preliminary drilling program for the exploration of zinc, copper and silver mineralization at the southeast area of the Mt. Hope molybdenum project site, and management costs related to the Company's 80% interest in the Mt. Hope molybdenum project. Chief Executive Officer Bruce D. Hansen has indicated an interest in purchasing $500,000 in the Offering at the public offering price per share and associated warrant. H.C. Wainwright is acting as the sole book running manager for the proposed Offering.