Western Copper and Gold Announces $25 Million Bought Deal Public Offering
April 15 2024 - 5:18PM
Western Copper and Gold Corporation (“Western” or the “Company”)
(TSX: WRN; NYSE American: WRN) announces that it has entered into
an agreement with Eight Capital, on behalf of a syndicate of
underwriters (the “Underwriters”) under which the Underwriters have
agreed to buy from the Company, on a bought deal basis, 13,158,000
common shares of the Company (the “Common Shares”) at a price of
$1.90 per Common Share for gross proceeds of $25,000,200 (the
“Offering”). The Company has granted the Underwriters an
over-allotment option to purchase up to an additional 1,973,700
Common Shares, representing 15% of the Offering, to cover
over-allotments, if any, and for market stabilization purposes,
exercisable at any time up to 30 days after the closing of the
Offering.
The net proceeds from the sale of the Common
Shares are expected to be used to advance permitting and
engineering activity at the Company’s Casino Project in the Yukon
and for general corporate and working capital purposes.
The Offering will be made by way of a short form
prospectus (together with any amendments thereto, the “Prospectus”)
filed in all of the provinces of Canada, except Québec, and in the
United States pursuant to a prospectus filed as part of a
registration statement on Form F-10 (together with any amendments
thereto, the “Registration Statement”) under the Canada/U.S.
multi-jurisdictional disclosure system. The Prospectus and the
Registration Statement are subject to completion and amendment.
Such documents contain important information about the Offering.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
Common Shares in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of that jurisdiction.
The Registration Statement relating to the
Common Shares has been filed with the United States Securities and
Exchange Commission but has not yet become effective. The Common
Shares to be sold pursuant to the Offering described in this news
release may not be sold nor may offers to buy be accepted prior to
the time the Registration Statement becomes effective. Before
readers invest, they should read the Prospectus in the Registration
Statement and other documents the Company has filed with Canadian
regulatory authorities and the United States Securities and
Exchange Commission for more complete information about the Company
and the Offering. The Prospectus is available on SEDAR+ at
www.sedarplus.ca. The Registration Statement is available on EDGAR
at www.sec.gov. Alternatively, the Prospectus and the Registration
Statement may be obtained, for free upon request, from Enoch Lee at
100 Adelaide Street West, Suite 2900, Toronto, Ontario, Canada M4H
1S3.
The Offering is expected to close on or about
April 30, 2024 and is subject to the Company receiving all
necessary regulatory approvals, including that of the Toronto Stock
Exchange and the NYSE American LLC.
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.
The Company is committed to working
collaboratively with our First Nations and local communities to
progress the Casino Project using internationally recognized
responsible mining technologies and practices.
For more information, visit
www.westerncopperandgold.com.
On behalf of the board,
“Sandeep Singh”
Sandeep SinghChief Executive OfficerWestern
Copper and Gold Corporationinfo@westerncopperandgold.com
Cautionary Disclaimer Regarding Forward-Looking
Statements and Information
This news release contains certain
forward-looking statements concerning the use of proceeds from the
Offering, the necessary regulatory approvals required for the
Offering being received and the expected closing date of the
Offering. 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. The
material factors or assumptions used to develop forward-looking
statements include, but are not limited to, the assumptions that
all regulatory approvals of the Offering will be obtained in a
timely manner; all conditions precedent to completion of the
Offering will be satisfied in a timely manner; and that market or
business conditions will not change in a materially adverse
manner.
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; uncertainties related to raising
sufficient capital 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.
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