Western Copper and Gold Announces Up to $8.0 Million Private Placement of Flow- Through Shares
Western Copper and Gold Announces Up to
$8.0 Million Private Placement of Flow-
Through Shares
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR THROUGH U.S. NEWSWIRE
SERVICES./
VANCOUVER, BC
,
July 6, 2021
/CNW/ - Western Copper and Gold Corporation ("Western" or the
"Company") (TSX: WRN) (NYSE American: WRN) announces that it has entered into an agreement
with RBC Capital Markets and Cormark Securities Inc. (the "Agents") to conduct a marketed best
efforts private placement of up to 2,670,000 common shares of the Company that will qualify as
"flow-through shares" within the meaning of subsection 66(15) of the
Income Tax Act
(
Canada
) (the
"FT Shares") at a price of
$3.00
per FT Share for aggregate gross proceeds of up to approximately
$8.0 million
(the "Offering").
In connection with the Offering, the Agents will be paid a cash fee equal to 6% of the aggregate
gross proceeds from the sale of the FT Shares.
The gross proceeds from the sale of the FT Shares will be used to incur expenditures which qualify
as "Canadian exploration expenses" and "flow-through mining expenditures" as those terms are
defined in the
Income Tax Act
(
Canada
) (the "Qualifying Expenditures") related to the Company's
Casino Project in the
Yukon Territory
. The Company will renounce the Qualifying Expenditures to
subscribers with an effective date of no later than
December 31, 2021
.
The closing of the Offering is expected to occur on or about the week of
July 26, 2021
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, expected to become
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,
including renouncing to the subscribers under the Offering,
and the Casino Project expected to
become
Canada's
premier copper-gold mine
. 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 not 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
View original content:
http://www.newswire.ca/en/releases/archive/July2021/06/c1973.html
%SEDAR: 00023684E
For further information:
Sandy Noyes, Director, Corporate Development, 604.638.2520 or
CO: Western Copper and Gold Corporation
CNW 16:14e 06-JUL-21