Toronto, November 25, 2021 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (NS “society” Also “platinum”) Is pleased to announce a private placement of flow-through common stock without brokers at a price of $ 0.98 per share (each). “Tranche 1 Flow Through Share”), Flow-through common stock at a price of $ 0.80 per share (each“Tranche 2 Flow Through Share”) And common stock of our capital at a price of $ 0.70 per common stock (“respectively”General share”) If your total income is about $ 9,000,000.
In accordance with the Investor Rights Agreement between us and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“”AgnicoAs of December 13, 2016, Agnico has indicated its intention to increase its interest in us to 19.9% on a post-provided basis.
“We are very grateful for the continued support of exciting and influential exploration activities in the prolific White Gold area. More details on future activities will be announced at a later date,” said the Chief Executive Officer. Chief Executive Officer David D’Onofrio said.
Each tranche 1 flow-through share and tranche 2 flow-through share shall be published as “flow-through shares” as defined in subsection 66 (15) of. Income tax law (Canada)(“Tax law“). The total proceeds from the sale of the Tranche 1 Flowthrough and Tranche 2 Flowthrough shares will be used by us to cover the “Canadian Exploration Costs” which we consider to be the “Flowthrough Mining Costs”. Its assets in the White Gold district of the Yukon Territory are defined by tax law (“Eligible spending”) Before December 31, 2022. Eligible spending will be waived to subscribers of Tranche 1 Flowthrough and Tranche 2 Flowthrough Shares effective by December 31, 2021. Some of the shares will be used for working capital and other general corporate purposes.
Tranche 1 Flowthrough Shares, Tranche 2 Flowthrough Shares, and shares issued under the offering will be provided in accordance with the applicable exemptions from the prospectus requirements under the applicable securities law. The end of the offering is expected to occur on or around December 21, 2021 (“Settlement date“). Securities issued in accordance with the offering are subject to a statutory holding period of 4 months plus 1 day from the deadline in accordance with applicable securities law.
Participation by Agnico and other insiders of the Company (collectively, “”insider”), In the offering, it is considered a“ related party transaction ”in accordance with Multilateral Instrument 61-101 – Protection of minority securities holders in special transactions (“”MI 61-101“). We have the requirement to obtain formal evaluation or minority shareholder approval in connection with insiders’ participation in the offering under Sections 5.5 (a) and 5.7 (1) (a) of MI 61-101. You will be exempt. Significant change reports will be submitted within 21 days of the end of the offering in connection with the insider’s participation in the offering. This is what we have determined to be reasonable in some circumstances so that we can take advantage of potential funding opportunities. Complete the offering in a quick way.
This proposed offering is subject to the approval of all required regulatory agencies, including the approval of the TSX Venture Exchange (“”TSXV“).
About White Gold
We own a portfolio of 21,111 quartz claims covering 31 real estate covering more than 420,000 hectares, which is more than 40% of the emerging White Gold district of the Yukon Territory. Our flagship White Gold property hosts our Golden Saddle and Ark deposits with 1,139,900 ounces of mineral resources at 2.28 g / tAu and 402,100 ounces of mineral resources estimated at 1.39 g / tAu.((((1).. Mineralization at the Golden Saddle and Ark is also known to extend beyond the limits of current resource estimates. Our VG deposits, acquired in March 2019, host an estimated 267,000 ounces of gold resources at 1.62 g / tAu.((((2).. Regional exploration work also includes several other new discoveries and future discoveries regarding our billing packages that are adjacent to significant gold discoveries, including Newmont Corporation’s coffee project and Western Copper and Gold Corporation’s casino project. Created a goal. For more information, please visit www.whitegoldcorp.ca.
(1) See the White Gold Corporation Technical Report, entitled “White Gold Project Technical Report, Dawson Range, Yukon Canada,” dated July 10, 2020. , Available at SEDAR.
(2) White Gold Corp. press release dated November 11, 2021, “White Gold Corp. announces 16% increase in estimated resources at VG deposits located 11 km north of the flagship Golden Saddle and Ark deposits in Yukon, Canada.” please refer to.
Terry Brace, P.Geo. In addition, our Vice President for Exploration is a “qualified person” as defined in National Instrument 43-101. Disclosure Standards for Mineral Projects I have reviewed and approved the content of this news release.
Precautions regarding future prospects
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities law. increase. All statements, except historical facts, are forward-looking statements and are based on expectations, estimates, and forecasts as of the date of this news release. All statements containing discussions about predictions, expectations, beliefs, plans, predictions, objectives, assumptions, future events or performance (often with phrases such as “expect”, “not expect”, “expected” Use, but not always), “anticipate” or “not anticipate”, “plan”, “suggestion”, “budget”, “plan”, “predict”, “estimate”, “believe” Or “intended” or variations of such words or phrases or specific actions, events, or consequences “may” or “potentially”, “potentially”, “possible” The statement “possible” or “achieved” may be a statement of future prospects rather than a statement of historical facts. In this news release, forward-looking statements are, among other things, offerings, use of revenue from offerings, receipt of all necessary regulatory approvals, including TSXV approvals, company objectives, goals, and implementations and proposals. It is related to exploration activities. It will be carried out at our facility. The potential for future growth of our company, including the success of the proposed exploration program on any of our assets. Exploration Results; Future Exploration Plans and Costs, and Financing Availability. These forward-looking statements are based on reasonable assumptions and estimates of our management at the time such statements were made. Forward-looking statements include known and unknown risks, uncertainties, and other factors, so actual future results may vary significantly. A description of the future outlook. Such factors include, among others: Expected benefits to us in connection with the exploration that is being carried out and proposed to be carried out in White Gold real estate. Receipt of regulatory approvals applicable to the offering. Unable to identify additional mineral resources or significant mineralization. Preliminary nature of metallurgical test results; Uncertainty regarding availability and cost of future funding, including funding of our asset exploration programs. Risks of business integration; Fluctuations in general macroeconomic conditions; Fluctuations in stock markets; Fluctuations in spot and forward prices of gold, silver, base metals or other specific commodities. Currency market fluctuations (such as the exchange rate from the Canadian dollar to the US dollar). National and local government changes, laws, taxes, regulations, regulations, and political or economic development. Risks and hazards associated with mineral exploration, development and mining operations (including environmental hazards, occupational accidents, anomalous or unexpected geological pressures, depressions and floods); Insure sufficient to cover risks and hazards Can not. Existence of laws and regulations that may impose restrictions on mining and mineral exploration. Relationships with Employees; Relationships and Claims with Communities and Indigenous Peoples. The availability of increased costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risk of obtaining the required licenses, permits and approvals from government authorities); the sought after properties are final It is unlikely that it will develop into mine production. Geological factors; actual results of current and future exploration. Changes to project parameters as the plan continues to be evaluated. The results of soil sampling are preliminary in nature and are not conclusive evidence of the potential of deposits. Property title. COVID-19 Continuing uncertainty associated with a pandemic. In addition, these factors listed under the “Risk Factors” heading of our annual information form dated July 29, 2020 are available on SEDAR. The forward-looking statements contained in this news release are based on what our management believes or believes to be reasonable assumptions, but the actual results are such forward-looking statements. We cannot guarantee that the statements will be consistent with. There may be other factors that may cause the results to be unpredictable, estimated, or not what you intended. Therefore, readers should not place excessive reliance on forward-looking statements or information. There is no guarantee that forward-looking information, or the key factors or assumptions used to create such forward-looking information, will be proven to be accurate. We do not undertake to publish amendments to update our voluntary forward-looking statements, except as required by applicable securities law.
Neither TSXV nor its regulatory service provider (the term is defined in TSXV’s policy) is responsible for the adequacy or accuracy of this news release.
For more information, please contact:
Chief executive officer
White Gold Co., Ltd.
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White Gold Corp. has announced a fully subscribed C $ 9 million private placement. Canadian Business Journal, a strategic shareholder that raises interest to 19.9%
Source link White Gold Corp. has announced a fully subscribed C $ 9 million private placement. Canadian Business Journal, a strategic shareholder that raises interest to 19.9%