Western Copper and Gold upsizes bought‑deal to raise up to C$92M for Casino project permitting
- Western Copper and Gold upsized bought‑deal to sell 19,277,500 shares at C$4.15, raising ~C$80M.
- Underwriters have a 30‑day option for 2,891,625 more shares, potentially boosting proceeds to ~C$92M.
- Net proceeds will primarily fund permitting and engineering at Western’s Casino copper‑gold project, plus general corporate capital.
Upsized financing to push Casino Project permitting forward
Western Copper and Gold Corporation announces an upsized bought‑deal financing to advance permitting and engineering at its Casino copper‑gold project in the Yukon. The company enters into an amended bought‑deal agreement with Stifel Canada and a syndicate of underwriters to sell 19,277,500 common shares at C$4.15 per share for gross proceeds of about C$80.0 million. Western grants the underwriters an option, exercisable up to 30 days after closing, to purchase an additional 2,891,625 shares, which if exercised in full would raise roughly C$12.0 million and bring aggregate gross proceeds to about C$92.0 million.
The upsizing follows an initial agreement the company announces on Feb. 11 to issue 12,048,400 shares for gross proceeds of about C$50.0 million, with a smaller overallotment option. Western says strong investor demand prompts the amendment announced on Feb. 12, increasing the size of the offering materially. Net proceeds are earmarked primarily to advance permitting and engineering work at the Casino Project and to provide general corporate and working capital.
Western frames the transaction as a strategic step to fund near‑term development milestones at Casino, underscoring the company’s focus on progressing regulatory approvals and technical studies. The company is conducting the offering under a short form prospectus in Canada (excluding Québec) and a registration statement on Form F‑10 in the United States pursuant to the Canada‑U.S. multijurisdictional disclosure system, with Stifel Canada leading the syndicate.
Regulatory filings and sale restrictions
The registration statement is filed with the U.S. Securities and Exchange Commission but is not yet effective, and the prospectus and registration statement remain subject to completion and amendment. Western stresses that no sales or offers to buy the common shares may be made prior to the registration statement becoming effective and that the prospectus is available on SEDAR+ and the registration statement on EDGAR.
Syndicate mechanics and investor notice
The company reiterates customary investor warnings, advising prospective purchasers to read the prospectus and registration statement and related Canadian and U.S. filings for full disclosure and risk information. Western also notes the offering does not constitute an offer or solicitation in any jurisdiction where it would be unlawful prior to registration or qualification.