Western Copper and Gold Announces Completion of Bought Deal Public Offering of $92 Million

Executive Summary

• Western Copper and Gold Corp. completed a bought‑deal public offering of 22,169,125 common shares at $4.15 per share, generating gross proceeds of $92,001,868.75 (including full exercise of the over‑allotment option).
• Net proceeds are earmarked to advance permitting and engineering work on the Casino Project in Yukon and for general corporate and working‑capital purposes.
• The offering was underwritten by a syndicate led by Stifel Canada, with a cash commission of 5 % paid to the underwriters (excluding sales to a president’s list).

Key Details

• Offering Size: 22,169,125 common shares
• Price per Share: $4.15
• Gross Proceeds: $92,001,868.75
• Underwriting Syndicate: Stifel Canada (lead); ATB Capital Markets Corp., National Bank Financial Inc., Agentis Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc., H.C. Wainwright & Co., LLC.
• Commission Paid: 5 % of gross proceeds (cash), except for 1,098,500 shares sold to a president’s list.
• Use of Proceeds:
• Permitting and engineering activities for the Casino Project (Yukon)
• General corporate purposes and working capital
• Offering Structure: Bought‑deal public offering completed via a short‑form prospectus filed in all Canadian provinces except Québec and in the United States under Form F‑10.
• Related Party Transaction: Insiders participated, representing less than 25 % of market capitalization; company relied on exemptions from formal valuation and minority‑shareholder approval under NI 61‑101.
• Regulatory Filings: Company will file a material change report post‑offering (not filed 21 days prior because insider participation was not confirmed at that time).

Notable Quotes

• “The successful completion of this offering provides us with the capital needed to move forward decisively on permitting and engineering for the Casino Project, positioning Western Copper and Gold for continued growth.” – Sandeep Singh, CEO

Materiality Assessment: Material – Positive (significant capital raise expected to materially advance a flagship project).