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White Gold Corp. Closes $5M First Tranche of Upsized Private Placement
AEMAgnico Eagle(AEM) Newsfilter·2024-12-23 13:00

Core Viewpoint - White Gold Corp. has successfully closed the first tranche of a non-brokered private placement, raising approximately 5,015,000tofunditsexplorationprogramintheWhiteGoldDistrictofYukon,Canada,whichisrichingoldandcriticalminerals[5][7].Group1:FinancingandShareholderParticipation−Thefinancingreceivedstronginterestfrombothnewandexistingshareholders,allowingthecompanytofullyfunditsimpactful2025explorationprogram[1].−Insiders,includingkeyexecutives,havepurchasedatotalof2,353,636commonsharesaspartoftheoffering,whichisclassifiedasarelatedpartytransaction[2].−Thecompanyisexemptfromobtainingaformalvaluationorminorityshareholderapprovalfortheinsiders′participationintheoffering[2].Group2:OfferingDetails−Thefirsttrancheoftheofferingincludedthesaleof8,063,000flow−throughsharesatC5,015,000 to fund its exploration program in the White Gold District of Yukon, Canada, which is rich in gold and critical minerals [5][7]. Group 1: Financing and Shareholder Participation - The financing received strong interest from both new and existing shareholders, allowing the company to fully fund its impactful 2025 exploration program [1]. - Insiders, including key executives, have purchased a total of 2,353,636 common shares as part of the offering, which is classified as a related party transaction [2]. - The company is exempt from obtaining a formal valuation or minority shareholder approval for the insiders' participation in the offering [2]. Group 2: Offering Details - The first tranche of the offering included the sale of 8,063,000 flow-through shares at C0.26 each, 5,092,593 shares qualifying for a 30% Critical Mineral Exploration Tax Credit at 0.27each,and7,013,182commonsharesatC0.27 each, and 7,013,182 common shares at C0.22 each [5]. - Finders' fees of 7.0% of the gross proceeds were paid to certain finders, along with the issuance of 472,405 finders' warrants, allowing the purchase of common shares at $0.22 for 36 months [3]. Group 3: Exploration Potential - White Gold Corp. holds a portfolio of 15,876 quartz claims across 26 properties, covering approximately 315,000 hectares, representing about 40% of the White Gold District [4]. - The flagship White Gold project contains an estimated 1,203,000 ounces of gold in indicated resources and 1,116,600 ounces in inferred resources [4]. - The company has made several new discoveries and developed a strong exploration pipeline for gold, copper, and other critical minerals in the region [1].