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WESTERN COPPER AND GOLD ANNOUNCES STRATEGIC INVESTMENT BY MITSUBISHI MATERIALS CORPORATION
WESTERN COPPER AND GOLD ANNOUNCES STRATEGIC INVESTMENT BY MITSUBISHI MATERIALS CORPORATION ...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n \n \n \n WESTERN COPPER AND GOLD ANNOUNCES STRATEGIC INVESTMENT BY MITSUBISHI MATERIALS CORPORATION\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.prngen1{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\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 March 24, 2023\n \n \n /CNW/ - Western Copper and Gold Corporation (\"Western\" or the \"Company\") (TSX: WRN) (NYSE American: WRN) announces a strategic equity investment by Mitsubishi Materials Corporation (\"Mitsubishi Materials\") to further advance the Company's copper-gold Casino Project in the\n \n Yukon\n \n .\n \n \n \n \n \n \n \n \n \n Mitsubishi Materials has agreed to acquire that number of common shares of the Company (the \"Shares\") that will represent approximately 5.0% of Western's issued and outstanding Shares, on an undiluted basis, following completion of the investment, at a price of\n \n C$2.63\n \n per Share.\n \n \n The exact number of Shares to be issued, and proceeds to be received, by the Company will depend on whether Rio Tinto Canada Inc. (\"Rio Tinto\") elects to exercise its pre-existing right to participate on a pro rata basis in equity financings by the Company to maintain its current ownership interest, which based on public filings is approximately 7.84%.\n \n \n Assuming Rio Tinto elects to exercise its participation right in full, then it is expected that 8,091,390 Shares will be issued to Mitsubishi Materials for aggregate gross proceeds of\n \n C$21.3 million\n \n and 878,809 Shares will be issued to Rio Tinto for aggregate gross proceeds of\n \n C$2.3 million\n \n .\n \n \n \"We are pleased to welcome Mitsubishi Materials as a strategic investor in the Company,\" said\n \n Paul West-Sells\n \n , President and CEO. \"The investment by Mitsubishi Materials is a strong endorsement of the Casino Project. We look forward to working with Mitsubishi Materials to advan...