VANCOUVER, BC, April 29,
2024 /PRNewswire/ - Western Copper and Gold
Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American:
WRN) announces that, in connection with the Company's offering of
common shares for gross proceeds of approximately $40 million announced on April 16, 2024 (the "Offering"), Rio Tinto Canada
Inc. ("Rio Tinto") has notified the Company that it will exercise
its participation right in full, allowing Rio Tinto to maintain its
interest of approximately 9.7%.
Rio Tinto will subscribe for 2,269,470 common shares of the
Company at a price of $1.90 per share
for proceeds of $4,311,993 (the "Rio
Tinto Subscription"). In the event that the over-allotment option
(the "Option") granted to the underwriters in connection with the
Offering is exercised in full, Rio Tinto will subscribe for an
additional 340,420 common shares for additional proceeds of
$646,798.
The Rio Tinto Subscription is expected to be completed on or
about May 6, 2024 and is subject to
the Company receiving approvals from 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 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 approvals from the Toronto Stock Exchange and
the NYSE American LLC required for the Rio Tinto Subscription being
received, whether the Option will be exercised and to what extent,
and the expected closing date of the Rio Tinto
Subscription. 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 the approvals from the Toronto Stock Exchange and the
NYSE American LLC required for the Rio Tinto Subscription
will be obtained in a timely manner; all conditions precedent to
completion of the Rio Tinto Subscription 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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SOURCE Western Copper and Gold Corporation