The White Gold district in the Yukon. Credit: White Gold Corp.
White Gold (TSXV: WGO) is set to raise C$20 million ($14.5 million) in a brokered private placement to fund its exploration activities in Canada’s Yukon Territory.
Clarus Securities, as lead agent of the offering, will issue a combination of premium flow-through units (C$1.17 per unit), flow-through common shares (C$1.00 per share) and units (C$0.85 per unit). Each premium unit comprises one flow-trough share and one-half of a common share purchase warrant, while the non-premium unit consists of one common share and one-half of a warrant. Each whole warrant is exercisable at C$1.15 for 24 months.
Agnico Eagle Mines (TSX, NYSE: AEM), as a 19.8% shareholder, has indicated to the company that it plans to participate in the offering to maintain its interest on a partially diluted basis.
Shares of White Gold hit a 52-week high of C$0.91…
