/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES/
VANCOUVER, May 8, 2020 /CNW/ - Western Copper and Gold
Corporation ("Western" or the "Company") (TSX: WRN; NYSE American:
WRN) announces a non-brokered private placement financing (the
"Offering") to raise aggregate gross proceeds of up to C$3,360,000 through the issuance of up to
3,000,000 flow-through common shares at a price of $1.12 per FT Share.
The gross proceeds received from the sale of the FT Shares will
be used solely to incur "Canadian exploration expenses" as defined
in subsection 66.1(6) of the Income Tax Act (Canada) on the Company's directly and
indirectly held mineral properties at the Casino Project in the
Yukon Territory, and renounced to
subscribers effective December 31,
2020. Such Canadian exploration expenses will also qualify
as "flow-through mining expenditures" as defined in subsection
127(9) of the Income Tax Act (Canada).
The closing of the Offering is expected to occur on or about
May 26, 2020 and is subject to
regulatory approval, including that of the Toronto Stock Exchange
and the NYSE American LLC. The FT Shares will be subject to
statutory hold period(s) in accordance with applicable securities
legislation.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States unless
registered under the U.S. Securities Act and applicable securities
laws or an exemption from such registration is available.
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corporation is developing the Casino
Project, Canada's premier
copper-gold mine in the Yukon
Territory and one of the most economic greenfield
copper-gold mining projects in the world. For more
information, visit www.westerncopperandgold.com.
On behalf of the board,
"Paul West-Sells"
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation
Cautionary Disclaimer Regarding Forward-Looking Statements
and Information
This news release contains certain forward-looking statements
concerning anticipated developments in Western's operations in
future periods. Statements that are not historical fact are
"forward-looking statements" as that term is defined in
the United States Private
Securities Litigation Reform Act of 1995 and "forward looking
information" as that term is defined in National Instrument 51-102
("NI 51-102") of the Canadian Securities Administrators
(collectively, "forward-looking statements"). Forward-looking
statements are frequently, but not always, identified by words such
as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible" and similar expressions, or statements that
events, conditions or results "will", "may", "could" or "should"
occur or be achieved. These forward-looking statements may include,
but are not limited to, statements regarding the anticipated
closing date of and the use of proceeds from the Offering. In
making the forward-looking statements herein, the Company has
applied certain material assumptions including, but not limited to,
the assumptions that all regulatory approvals will be received in a
timely manner and on acceptable terms; that general business
conditions will note change in a materially adverse manner and that
the Offering will proceed as planned.
Forward-looking statements are statements about the future
and are inherently uncertain, and actual results, performance or
achievements of Western and its subsidiaries may differ materially
from any future results, performance or achievements expressed or
implied by the forward-looking statements due to a variety of
risks, uncertainties and other factors. Such risks and other
factors include, among others, risks involved in fluctuations in
gold, copper and other commodity prices and currency exchange
rates; the risks and uncertainties related to the Offering not
being completed in the event that the conditions precedent thereto
(including receipt of requisite regulatory approvals) are not
satisfied; uncertainties related to raising sufficient financing in
a timely manner and on acceptable terms; and other risks and
uncertainties disclosed in Western's AIF and Form 40-F, and other
information released by Western and filed with the applicable
regulatory agencies.
Western's forward-looking statements are based on the
beliefs, expectations and opinions of management on the date the
statements are made, and Western does not assume, and expressly
disclaims, any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as otherwise required by
applicable securities legislation. For the reasons set forth above,
investors should not place undue reliance on forward-looking
statements.
SOURCE Western Copper and Gold Corporation