Toronto (pcJ News Briefs) – White Gold Corp. (TSX-V: WGO) has completed a brokered private placement of 5,555,500 common shares, issued on a flow-through basis, at $1.80 per share, for gross proceeds of approximately $10.0 million.
In connection with the offering, Agnico Eagle Mines Limited acquired shares and maintained its approximate 19.93% interest in White Gold.
The offering was conducted by a syndicate of agents, co-led by GMP Securities L.P. and Clarus Securities Inc. and including Primary Capital Inc.
White Gold intends to use proceeds to incur Canadian exploration expenses on its properties in the White Gold District of the Yukon Territory prior to December 31, 2018.
White Gold Corp. owns a portfolio of 14,648 quartz claims across 23 properties covering approximately 297,000 hectares representing approximately 30% of the Yukon’s White Gold District. Preliminary exploration work has produced several highly prospective targets. The claim packages are bordered by sizable gold discoveries owned by majors including Kinross, Goldcorp and Western Copper & Gold.
photo credit: White Gold