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  • Whitehorse Gold Corp. (WHG) has closed its brokered and non-brokered private placements
  • Aggregate gross proceeds raised were approximately $15.26 million
  • Whitehorse Gold issued 6,287,300 units and 3,646,025 flow-through units
  • The units were priced at $1.50 and flow-through units at $1.60
  • The brokered offering was undertaken by BMO Nesbitt Burns Inc. and Laurentian Bank Securities Inc. as co-lead agents and joint bookrunners
  • Whitehorse Gold is a responsible mineral exploration and development company
  • Whitehorse Gold Corp. (WHG) opened trading at C$1.52 per share

Whitehorse Gold Corp. (WHG) has closed its previously announced private placement offerings.

Aggregate gross proceeds raised were approximately $15.26 million.

The offerings consisted of:

  • a brokered private placement and flow-through units for aggregate gross proceeds of approximately $13.44 million, including the partial exercise of the overallotment option and
  • a non-brokered offering of units and flow-through units for aggregate gross proceeds of approximately $1.82 million.

Under the offerings, Whitehorse Gold issued 6,287,300 units and 3,646,025 flow-through units.

The brokered offering was undertaken by BMO Nesbitt Burns Inc. and Laurentian Bank Securities Inc. as co-lead agents and joint bookrunners, on behalf of a syndicate that included Red Cloud Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd. 

Whitehorse Gold’s CEO, Kevin Weston, commented,

“We thank our current shareholders for their continued support and welcome new shareholders. As we prepare to initiate our 2021 exploration program at our Skukum Gold Project in southern Yukon, we are now well capitalized to undertake a significant drill campaign designed with the intention of expanding and upgrading our existing high-grade gold deposits on the project.”

The units were priced at $1.50 and flow-through units at $1.60. Each unit consists of one common share and one share purchase warrant. Each flow-through unit consists of one flow-through share and one share purchase warrant.

Each warrant entitles the holder to acquire one share for $2.00 per share for a period of 60 months following the closing of the offerings.

Each flow-through warrant entitles the holder to acquire one share for $2.10 per share for a period of 60 months following the closing of the offerings.

In the event that the closing price of the shares is greater than $3.00 on the TSX Venture Exchange for a period of 10 consecutive trading days at any time after the closing, the company may accelerate the expiry date of the warrants by giving written notice in the form of a press release. If such notice is provided, warrants will expire 30 days thereafter.

In connection with the brokered offering, the company paid the agents a cash commission equal to 6% of the gross proceeds and issued warrants equal to 6% of the number of units and flow-through units sold. Whitehorse paid aggregate finder’s fees of $9,180 and issued an aggregate of 6,000 broker warrants to Leede Jones Gable Inc. and National Bank Financial Inc.

Net proceeds will support continued exploration of the Skukum Gold Project and for general corporate and working capital purposes.

The offerings remain subject to the final approval of the TSXV.

Whitehorse Gold is a responsible mineral exploration and development company focused on its 170-square-km Skukum Gold Project located in southern Yukon, approximately 55 km southwest of Whitehorse.

Whitehorse Gold Corp. (WHG) opened trading at C$1.52 per share.

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