Western Copper closes $92-million public offering

Executive Summary

• Western Copper and Gold Corp. has completed a bought deal public offering of 22,169,125 common shares, raising gross proceeds of approximately $92 million.
• The offering included the full exercise of the underwriters' overallotment option, priced at $4.15 per share.
• Net proceeds are designated for advancing permitting and engineering activities at the Casino project in Yukon, as well as for general corporate and working capital purposes.

Key Details

• Transaction Structure: Bought deal public offering of common shares.
• Shares Issued: 22,169,125 common shares.
• Price Per Share: $4.15.
• Gross Proceeds: $92,001,868.75.
• Underwriters: Syndicate led by Stifel Canada, including ATB Capital Markets Corp., National Bank Financial Inc., Agentis Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc., and H.C. Wainwright & Co. LLC.
• Underwriting Commission: 5.0% of gross proceeds, excluding sales to purchasers on a president's list (aggregate of 1,098,500 shares).
• Use of Proceeds: Advancing permitting and engineering activity at the Casino project in Yukon; general corporate and working capital purposes.
• Regulatory Filings: Completed via short form prospectus in all Canadian provinces except Quebec; filed in the U.S. via Form F-10 under the Canada/U.S. multijurisdictional disclosure system.
• Insider Participation: Certain directors and officers participated in the offering, constituting a related party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements as the fair market value of securities issued to insiders did not exceed 25% of market capitalization.
• Material Change Report: A material change report will be filed regarding the offering.

Notable Quotes

• None provided in the text.