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Western Copper and Gold Announces Upsize of Over-Night Marketed Public Offering
Western Copper and Gold Announces Upsize of Over-Night Marketed Public Offering ...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n \n \n \n Western Copper and Gold Announces Upsize of Over-Night Marketed Public Offering\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 VANCOUVER, BC, Nov. 19, 2020\n \n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 19, 2020\n \n /CNW/ - Western Copper and Gold Corporation (\"Western\" or the \"Company) (TSX: WRN) (NYSE American: WRN) is pleased to announce that in connection with its previously announced over-night marketed offering of common shares of the Company (the \"Common Shares\"), the Company and a syndicate of underwriters (the \"Underwriters\") have agreed to increase the size of the previously announced financing. Pursuant to the amended terms, the Company has agreed to sell 17,242,000 Common Shares at a price of\n \n $1.45\n \n per Common Share (the \"Offering Price\") for gross proceeds of approximately\n \n $25.0 million\n \n (the \"Offering\"). The Company has granted the Underwriters an option (the \"Over-Allotment Option\"), exercisable in whole or in part, at the sole discretion of the Underwriters, for a period of 30 days from and including the closing of the Offering, to purchase up to an additional 2,586,300 Common Shares at the Offering Price. If the Over-Allotment Option is exercised in full, the total gross proceeds to the Company would be approximately\n \n $28.8 million\n \n .\n \n \n The Company shall pay the Underwriters a cash commission equal to 5.0% of the gross proceeds of the Offering, including any proceeds received from the exercise of the Over-Allotment Option, if any, subject to a 2.5% cash commission being payable on sales to members of the president's list (the \"President's List\"), such President's List not to exceed\n \n $12.0 million\n \n .\n \n \n The Company intends to use the net proceeds from the sale of the Common Shares to fund its exploration, engineering and permitting activities and for general working capital purposes.\n \n \n The Offering will be made by way of a prospectus supplement (the \"Prospectus Supplement\") to the Company's existing Canadian base shelf pro...