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Highlights
- White Gold signs agreement with Clarus Securities for private placement of multiple securities classes.
- The offer includes premium flow-through units, flow-through shares, and units with warrants.
- Agnico Eagle intends to maintain 19.8% ownership through participation in the offering.
White Gold Corp. (TSX.V:WGO) announced it has entered into an agreement with Clarus Securities Inc. (Clarus), acting as lead agent on behalf of a syndicate of agents, in connection with a brokered private placement. The offering will be conducted on a “best efforts” agency basis.
The Offering will consist of three types of securities: premium flow-through units at 1.17 per unit, flow-through common shares at 1.00 per share, and company units at 0.85 per unit. Each Unit will include one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share at 1.15 for a period of 24 months following the closing date of the Offering.
Each Premium Flow-Through Unit will include one Flow-Through Share and one-half of one warrant. The Flow-Through Shares will qualify as “flow-through shares” under the Income Tax Act (Canada). The agents will also have an option, exercisable up to 48 hours before the closing date, to sell additional securities to raise up to an additional 3,000,000 in gross proceeds.
Under an existing investor rights agreement, Agnico Eagle Mines Limited (TSX:AEM) (NYSE:AEM) has the right to participate in the Offering to maintain its pro rata ownership. The company confirmed that Agnico intends to maintain its approximate 19.8% interest in White Gold on a partially diluted basis.
Gross proceeds from the sale of Premium Flow-Through Units and Flow-Through Shares will be used for exploration expenditures in the White Gold District, Yukon Territory, before December 31, 2026. These qualifying expenditures will be renounced to subscribers for the fiscal year ending December 31, 2025. Proceeds from the sale of Units are expected to be used for general corporate purposes.
The offering is subject to regulatory approvals, including that of the TSX Venture Exchange. Closing is expected on or about October 9, 2025, or on another date agreed by the company and Clarus.
Participation by Agnico and other insiders will be considered a related party transaction under Multilateral Instrument 61-101. The company will rely on exemptions from formal valuation and minority shareholder approval requirements.
White Gold holds 15,364 quartz claims across 21 properties in Yukon’s White Gold District, covering approximately 305,102 hectares. Its flagship project hosts four near-surface deposits with estimated resources of 1,732,300 ounces of gold in Indicated Resources and 1,265,900 ounces of gold in Inferred Resources.
