Business
White Gold Corp. Announces C$10 Million Private Placement of Flow-Through Common Shares. Agnico Eagle Mines and Kinross Gold Corp to Maintain 19.9% Interest
Not for distribution to U.S. news wire services or dissemination in the United States. TORONTO, May 31, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V:WGO) (O
About this update from White Gold Corp.
[{"type":"text","content":" Not for distribution to U.S. news wire services or dissemination in the United States. TORONTO, May 31, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V:WGO) (OTC – Nasdaq Intl:WHGOF) (FRA:29W) (the “Company” or “White Gold”) is pleased to announce it has entered into an agreement with Clarus Securities Inc. (“Clarus”) pursuant to which Clarus, together with GMP Securities L.P (“GMP”, together with Clarus the “Lead Agents”) and a syndicate including Primary Capital Inc., Canaccord Genuity Group Inc., and Sprott Capital Partners L.P (together with the Lead Agents the “Agents”) will act on behalf of the Company, on a “best efforts” agency basis, in connection with a brokered private placement (the “Offering”) of up to 10,526,600 flow-through common shares (each a “Flow-Through Share”), at a price per Flow-Through Share of $0.95 (the “Offering Price”), for aggregate gross proceeds of up to $10,000,270. The net proceeds of the Offering will be for exploration purposes. Pursuant to the Investor Rights Agreement between the Company and Agnico Eagle Mines (“Agnico”) dated December 13, 2016, Agnico has indicated that it will maintain its 19.9% interest in the Company. Additionally, pursuant to the Investor Rights Agreement between the Company and Kinross Gold Corp (“Kinross”) dated June 14, 2017, Kinross has indicated that it will maintain its 19.9% interest in the Company. This proposed Offering is subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The Flow-Through Shares to be issued under the Offering will be offered pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. Closing of the Offering is anticipated to occur on or about June 21, 2018 or such other date as may be agreed to by the Company and Clarus (the \"Closing Date\"). The securities issued pursuant to the Offering will be subject to a statutory hold period of four months plus one day from the Closing Date in accordance with applicable securities legislation. This news release does not constitute an offer to sell or a solicitation of an offer to buy 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...