Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN; NYSE American: WRN) announces that strategic investor, Michael Vitton, has agreed to purchase 3,000,000 units (the “Units”) at a price of $0.65 per Unit to raise gross proceeds of up to $1.95 million on a private placement basis (the “Private Placement”).
Each Unit will consist of one common share of the Company (a “Share”) and half of one non-transferable warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share at a price of $0.85 for a period of 60 months from closing.
Western plans to close the Private Placement as soon as practicable subject to receipt of all necessary regulatory approvals, including the approval of the TSX.
The Company intends to use the proceeds from the Private Placement for development of the Casino Project and for general corporate purposes.
