Western Copper and GOLD Announces Upsize IN Bought Deal Public Offering to $40 Million
TSX: WRN
NYSE American: WRN
NEWS RELEASE
April 16, 2024 Release 07-2024
WESTERN COPPER AND GOLD ANNOUNCES UPSIZE IN BOUGHT DEAL PUBLIC
OFFERING TO $40 MILLION
VANCOUVER, B.C. Western Copper and Gold Corporat ion (“Western” or the “Company”) (TSX: WRN;
NYSE American: WRN) is pleased to announce that it has entered into an amended 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, 21,055,000 common shares of the Company
(the “Common Shares”) at a price of $1.90 per Common Share for gr oss proceeds of $40,004,500 (the
“Offering”). The Company has granted the Underwriters an over-allotment option to purchase up to an
additional 3,158,250 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 pros pectus (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 co mpletion 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 prio r 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 Ex change 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 ww w.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 Exc hange 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 Singh
Chief Executive Officer
Western Copper and Gold Corporation
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.