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Western Copper and Gold Increases Private Placement to $4.48 Million of Flow-Through Shares
Western Copper and Gold Increases Private Placement to $4.48 Million of Flow-Through Share...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n\n\n\nWestern Copper and Gold Increases Private Placement to $4.48 Million of Flow-Through Shares\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\nCanada NewsWire\nVANCOUVER, May 11, 2020\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\n VANCOUVER, May 11, 2020 /CNW/ - Western Copper and Gold Corporation (\"Western\" or the \"Company\") (TSX: WRN; NYSE American: WRN) announces that, due to unprecedented interest from both new and existing shareholders, the non-brokered private placement financing announced on May 8, 2020 (the \"Offering\") has been increased to raise aggregate gross proceeds of up to C$4,480,000 through the issuance of up to 4,000,000 flow-through common shares at a price of $1.12 per FT Share.\n\n \n \n \n \n \n \n\n \nThe gross proceeds received from the sale of the FT Shares will be used solely to incur \"Canadian exploration expenses\" as defined in subsection 66.1(6) of the Income Tax Act (Canada) on the Company's directly and indirectly held mineral properties at the Casino Project in the Yukon Territory, and renounced to subscribers effective December 31, 2020. Such Canadian exploration expenses will also qualify as \"flow-through mining expenditures\" as defined in subsection 127(9) of the Income Tax Act (Canada).\nThe closing of the Offering is expected to occur on or about May 26, 2020 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.\nThis news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities 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 state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such reg...