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WESTERN COPPER AND GOLD ANNOUNCES FURTHER INVESTMENT AND ENTRY INTO A NEW INVESTOR RIGHTS AGREEMENT WITH RIO TINTO
WESTERN COPPER AND GOLD ANNOUNCES FURTHER INVESTMENT AND ENTRY INTO A NEW INVESTOR RIGHTS AGREEME...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n \n \n \n WESTERN COPPER AND GOLD ANNOUNCES FURTHER INVESTMENT AND ENTRY INTO A NEW INVESTOR RIGHTS AGREEMENT WITH RIO TINTO\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 28, 2023\n \n \n /CNW/ - Western Copper and Gold Corporation (\"Western\" or the \"Company\") (TSX: WRN) (NYSE American: WRN) announces a further\n \n C$6 million\n \n investment and the entry into an amended and restated investor rights agreement by Rio Tinto Canada Inc. (\"Rio Tinto\"), to continue to advance the Company's\n \n Casino\n \n Project in the\n \n Yukon\n \n .\n \n \n \n \n \n \n \n \n \n Rio Tinto has agreed to subscribe for and purchase 3,468,208 common shares at a price of\n \n C$1.73\n \n per share for aggregate gross proceeds of approximately\n \n C$6 million\n \n , resulting in Rio Tinto's ownership increasing to approximately 9.7% of Western's outstanding common shares.\n \n \n Western remains the sole owner of the\n \n Casino\n \n Project and will continue to be the operator. The Company will use the proceeds of this further investment to fund specific areas of study, specifically around providing infrastructure for the\n \n Casino\n \n Project, and streamlining the regulatory process, with the aim of progressing through permitting to a development phase for the\n \n Casino\n \n Project.\n \n \n \"We are pleased that Rio Tinto has elected to continue to invest and work with Western to advance the\n \n Casino\n \n Project, with a focus on furthering infrastructure development and streamlining the regulatory process,\" said\n \n Paul West-Sells\n \n , President and CEO.\n \n \n \"We are pleased to continue to work with Western to advance the\n \n Casino\n \n Project,\" said Bold Baatar, Chief Executive, Copper, Rio Tinto.\n \n \n In connection with this further investment by Rio Tinto, the Company and Rio Tinto will enter into an amended and restated investor rights agreement, whereby, subject to certain conditions, including ownership thresholds, Rio Tinto will have certain rights for a period o...