Western Copper and GOLD Appoints Sandeep Singh as CEO
WESTERN COPPER AND GOLD APPOINTS SANDEEP
SINGH AS CEO
VANCOUVER, BC
,
Feb. 22, 2024
/CNW/ - Western Copper and Gold Corporation ("Western" or the "Company")
(TSX: WRN) (NYSE American: WRN) is pleased to announce the appointment of Mr.
Sandeep Singh
as Chief
Executive Officer of the Company, effective immediately. Mr. Singh will work closely with Dr.
Paul West-Sells
, who
will continue in the role of President in connection with the succession process. Further, Mr.
Kenneth Williamson
has
retired from his role as Director and Interim Chairman. Current board member, Dr.
Bill Williams
, has taken on the role
of Interim Chairman as the Company searches for a replacement.
As a highly respected mining professional with 20 years of sector expertise, Mr. Singh adds meaningful capital
markets and strategic expertise to the Company. He was previously the President and CEO of Osisko Gold Royalties,
where he led the successful turnaround of the company. For the fifteen years prior, Mr. Singh was an investment
banker focusing on the North American metals and mining sector with BMO Capital Markets, Dundee Securities, and
ultimately co-founding Maxit Capital, a leading independent M&A firm. He has advised numerous mining companies on
financing alternatives and strategic matters as well as having acted on some of the most complex and value-enhancing
M&A transactions in the mining sector. Mr. Singh holds a Bachelor of Mechanical Engineering degree from
Concordia University
and a Masters of Business Administration degree from
Oxford University
.
Dr.
Bill Williams
, Interim Chairman, commented "The Board would like to thank Ken for his dedication, and contributions
to the Company. We wish him the best as he focuses his energy on his family and retirement. I'd also like to commend
Paul on playing an active role in the succession planning efforts that led to the appointment of Mr. Singh. Paul has been
the driving force behind the
Casino
project since the very beginning and we are hopeful he will continue to play an
important role as we build out the management team necessary for the next phases of the Company's growth.
The Board is delighted to have someone of Sandeep's caliber joining the team. Throughout his impressive career, he
has shown a dedication to stakeholder value, above all else, and will be aligned with shareholders through a significant
personal investment into the Company. With Sandeep's addition, we are strengthening the Company's management
capabilities to better unlock the value potential of the
Casino
project."
Mr. Singh commented "I see tremendous value in
Casino
as one of very few viable assets in the copper-gold
development space.
Casino
strikes a unique balance of important scale, attractive commodity mix, low jurisdictional
risk, and quick payback through the higher-grade core of the deposit. The credible data, underpinning a thorough
feasibility study, and remaining upside from additional resources or optimizations to the project provide tangible upside
potential. I am excited to be joining the Western Copper and Gold team at a pivotal time for the Company."
The Company also announces a
C$3 million
private placement (the "Placement") with Mr. Singh for the purchase of
2.22 million common shares at a price of
C$1.35
per common share. The closing of the Placement is subject to
entering into a customary subscription agreement and the receipt of approvals of the Toronto Stock Exchange and the
NYSE American LLC. The shares issued pursuant to the Placement will be subject to a statutory hold period in
accordance with applicable Canadian securities laws.
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,
"Dr.
Bill Williams
"
Dr.
Bill Williams
Interim Chairman
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:
strengthening the
Company's management capabilities to better unlock the value potential of the
Casino
project, the remaining upside
from additional resources or optimizations to the project and
the expected closing of the Placement; or other
statements that are not statement of fact. The material factors or assumptions used to develop forward-looking
statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and
results, continued availability of capital and financing, construction and operations, the Company not experiencing
unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general
economic, market or business conditions and as more specifically disclosed throughout this document, and in the
AIF and Form 40-F.
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 relating to interpretation of drill
results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating
costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations;
risks related to cooperation of government agencies and First Nations in the development of the property and the
issuance of required permits; risks related to the need to obtain additional financing to develop the property and
uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and
uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other
governmental approvals; 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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CO: Western Copper and Gold Corporation
CNW 17:11e 22-FEB-24