Western Copper and Gold Closes Private Placement
Western Copper and Gold Closes Private
Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR THROUGH U.S. NEWSWIRE
SERVICES/
VANCOUVER
,
June 1, 2020
/CNW/ - Western Copper and Gold Corporation ("Western" or the
"Company") (TSX: WRN; NYSE American: WRN) is pleased to report that it has completed the non-
brokered private placement previously
announced on
May 11, 2020
wherein the Company issued
4,000,000 flow-through common shares (the "FT Shares") at a price of
C$1.12
per FT Share to
raise aggregate gross proceeds of
C$4,480,000
.
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 FT Shares are subject to a hold period and may not be traded until
October 2, 2020
except as
permitted by applicable securities legislation and the rules and policies of the Toronto Stock
Exchange.
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 use of proceeds from the sale of FT Shares. In making the forward-
looking statements herein, the Company has applied certain material assumptions including, but
not limited to, the assumptions that the circumstances surrounding the COVID-19 pandemic,
although evolving, will stabilize or at least not worsen; that the extent to which COVID-19 may
impact the Company, including without limitation disruptions to the mobility of Company personnel,
increased labour and transportation costs, and other related impacts, will not change in a
materially adverse manner; that all regulatory approvals required to complete the Company's
planned exploration and development activities will be received in a timely manner and on
acceptable terms; that the Company is able to procure personnel, equipment and supplies required
for its exploration and development activities in sufficient quantities and on a timely basis; and that
general 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; COVID-19 risks to employee health and safety and a slowdown or
temporary suspension of operations in geographic locations impacted by an outbreak;
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
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For further information:
Chris Donaldson, Director, Corporate Development, 604.638.2520 or
CO: Western Copper and Gold Corporation
CNW 14:28e 01-JUN-20