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Financings

White Gold Corp. Closes Upsized $23 Million Private Placement

By The Northwire Desk — AI Analysis Oct 15, 2025 · 10:48 WGO · 1.08 White Gold Corp.
WGO · Price

Executive Summary

  • White Gold Corp. closed a broker‑driven private placement for approximately $23 million in gross proceeds.
  • The offering consisted of Units, premium flow‑through units and flow‑through shares priced at $0.85, $1.17 and $1.00 respectively, each accompanied by common share purchase warrants.
  • Proceeds will fund the company’s largest drill program to date on its flagship White Gold Project and cover working capital/general corporate expenses.

Key Details

  • Offering Structure
  • 9,411,710 Units @ $0.85 per Unit → $8.00 M gross proceeds
    • Each Unit = 1 common share + ½ warrant (exercise price $1.15)
  • 8,547,000 FT Units @ $1.17 per FT Unit → $10.00 M gross proceeds
    • Each FT Unit = 1 flow‑through share + ½ warrant (same exercise terms)

  • 5,000,000 FT Shares @ $1.00 per FT Share → $5.00 M gross proceeds

  • Total Gross Proceeds: ~$23 million (including full exercise of agents’ option).

  • Lead Agent & Syndicate: Clarus Securities Inc. (lead); Canaccord Genuity Corp., SCP Resource Finance LP, ATB Securities Inc. (agents).

  • Insider Participation / Related Party Transaction

  • Agnico Eagle Mines Ltd. exercised its pre‑emptive right and participated.
  • PowerOne Capital Corp., CEO David D’Onofrio and VP Exploration Dylan Langille also participated.

  • The transaction was exempt from formal valuation/minority approval under MI 61‑101.

  • Compensation to Agents

  • Cash commission: 6.0% of gross proceeds (excluding Agnico’s portion).

  • Non‑transferable compensation options issued equal to 6.0% of securities sold (again, excluding Agnico’s portion), exercisable at the same price as the underlying security for 24 months.

  • Use of Proceeds

  • FT Units & FT Shares: earmarked for qualifying exploration expenditures in the White Gold District before 31 Dec 2026; to be renounced for tax purposes for FY ending 31 Dec 2025.

  • Units: allocated to working capital and general corporate expenses.

  • Statutory Hold Period: All securities and compensation options subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.

  • Project Context – The financing supports the company’s flagship White Gold Project, which hosts four near‑surface gold deposits with an estimated 1.73 M oz (indicated) and 1.27 M oz (inferred) of gold, plus additional exploration targets across a 305,102‑ha claim package in Yukon.

Notable Quotes

“We are very grateful for the interest from new and existing shareholders as we continue to advance our flagship White Gold Project… This financing provides the resources to execute our largest drill program to date…” – David D’Onofrio, Chief Executive Officer, White Gold Corp.

Read the original news release →

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