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Whitehorse Gold Increases Private Placement and Extends Closing Date
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2022) - Whitehorse Gold Corp.  ...
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[{"type":"text","content":"Whitehorse Gold Increases Private Placement and Extends Closing DateVancouver, British Columbia--(Newsfile Corp. - December 12, 2022) - Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (\"Whitehorse Gold\" or the \"Company\") reports that it has increased its previously announced non-brokered private placement from up to 10 million units to up to approximately 12 million units at a price of 40 cents per unit. The closing of the first tranche of private placement is expected to be on or around December 15, 2022. The second tranche is expected to close on or before January 16, 2023.Each unit will consist of one common share in the capital of the Company and one-half of one non-transferable share purchase warrant. Each warrant is exercisable by the holder to acquire one common share at a price of $0.65 per share for a period of 24 months from the closing of the private placement.The closing of the private placement is subject to the final approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a statutory four-month and one-day hold period from the closing date.The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Company may pay a finder's fee of up to 6% of the gross proceeds received by the Company to certain eligible persons for part of the private placement.As insiders of the Company (including Silvercorp) are expected to participate in the Offering, any such subscriptions will be considered to be related party transactions within the meaning of TSXV Policy 5.9 Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.The securities described herein 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 United States state securities laws, and accordingly, may not be offered or sold within the United States or to U.S. persons except in comp...