Western Copper and Gold Corporation (TSX: WRN) completed a $92 million bought‑deal public offering of 22,169,125 common shares at $4.15 per share, fully exercising the over‑allotment option and raising gross proceeds of $92,001,868.75.
The transaction was executed under an underwriting agreement dated February 12, 2026, with Stifel Canada leading a syndicate that included several Canadian and U.S. underwriters. The company paid a 5.0% cash commission to the underwriters, and the offering was filed via a short‑form prospectus in all Canadian provinces except Quebec and through a Form F‑10 registration statement in the United States.
Proceeds will be used to advance permitting and engineering activities for the Casino Project in Yukon and for general corporate and working‑capital needs. The Casino Project has an estimated capital requirement of $3.6 billion, so the $92 million injection provides a critical runway for the permitting phase and positions the company for future financing or partnership opportunities.
Western Copper and Gold had previously raised smaller amounts earlier in February 2026 – a C$50 million offering on February 11 and an upsized C$80 million offering on February 12 that was amended to the larger deal that closed on February 26. The company also benefits from strategic investments by Rio Tinto and Mitsubishi Materials, and it maintains a debt‑free balance sheet with C$77.2 million in cash as of June 30 2024.
By strengthening its financial position, the company can accelerate the Casino Project’s development, reduce reliance on future debt, and signal confidence to investors and partners that it is on track to secure the necessary capital for the $3.6 billion project cost.
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