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Western Copper and Gold Announces Up to $8.0 Million Private Placement of Flow-Through Shares
Western Copper and Gold Announces Up to $8.0 Million Private Placement of Flow-Through Sh...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n \n \n \n Western Copper and Gold Announces Up to $8.0 Million Private Placement of Flow-Through Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES./\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n July 6, 2021\n \n /CNW/ - Western Copper and Gold Corporation (\"Western\" or the \"Company\") (TSX: WRN) (NYSE American: WRN) announces that it has entered into an agreement with RBC Capital Markets and Cormark Securities Inc. (the \"Agents\") to conduct a marketed best efforts private placement of up to 2,670,000 common shares of the Company that will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"FT Shares\") at a price of\n \n $3.00\n \n per FT Share for aggregate gross proceeds of up to approximately\n \n $8.0 million\n \n (the \"Offering\").\n \n \n In connection with the Offering, the Agents will be paid a cash fee equal to 6% of the aggregate gross proceeds from the sale of the FT Shares.\n \n \n The gross proceeds from the sale of the FT Shares will be used to incur expenditures which qualify as \"Canadian exploration expenses\" and \"flow-through mining expenditures\" as those terms are defined in the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"Qualifying Expenditures\") related to the Company's Casino Project in the\n \n Yukon Territory\n \n . The Company will renounce the Qualifying Expenditures to subscribers with an effective date of no later than\n \n December 31, 2021\n \n .\n \n \n The closing of the Offering is expected to occur on or about the week of\n \n July 26, 2021\n \n and is subject to regulatory approval, including that of the Toronto Stock Exchange and the NYSE American LLC. The FT Shares will be subject to statutory hold period(s) in accordance with applicable securities legislation.\n \n \n \n This news release does not constitute an offer to sell or a solicitation of an offer to sell a...