- White Gold Corp. (WGO) and Agnico Eagle Mines Limited (AEM) have closed a non-brokered private placement for gross proceeds of approximately $9 million
- With this, Agnico Eagle increased its partially diluted ownership in White Gold to 19.9 per cent
- The offering was comprised of 3,185,714 common shares of White Gold at a price of $0.70 per share
- The gross proceeds received from the sale will be used to incur expenses on White Gold’s properties in the Yukon Territory and for general corporate expenses
- White Gold Corp. (WGO) is up 4.23 per cent trading at $0.74 per share as of 4:19 p.m. EST
- Agnico Eagle Mines Limited (AEM) is down 0.23 per cent trading at $67.18 per share as of 4:20 p.m. EST
White Gold Corp. (WGO) and Agnico Eagle Mines Limited (AEM) have closed a non-brokered private placement for gross proceeds of approximately $9 million.
Agnico Eagle has increased its ownership in White Gold to 19.9 per cent.
David D’Onofrio, CEO of White Gold, also participated in the offering.
The offering was comprised of 3,185,714 common shares of White Gold at a price of $0.70 per share.
Also issued were 2,464,286 common shares on a flow-through basis at a price of $0.98 per share.
“This past season we drilled one of the best holes in the district to date with the maiden diamond drill program on our Betty property and also continued to demonstrate the potential to increase our significant defined gold resources,” stated D’Onofrio, Chief Executive Officer.
Agnico Eagle acquired 5.65 million offered shares and D’Onofrio acquired 93,750 offered shares.
The gross proceeds received from the previously announced offering will be used to incur Canadian exploration expenses on White Gold’s properties in the Yukon Territory and for general corporate expenses.
White Gold was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation of Agnico and D’Onofrio.
White Gold Corp. (WGO) is up 4.23 per cent trading at $0.74 per share as of 4:19 p.m. EST.
Agnico Eagle Mines Limited (AEM) is down 0.23 per cent trading at $67.18 per share as of 4:20 p.m. EST.
