White Gold Corp. Announces Completion of First Tranches of Fully Subscribed $10M W2 Critical Minerals Corp. Subscription Receipt Financing
White Gold Corp. closed the first two tranches of a fully subscribed $10M subscription receipt financing for its subsidiary W2 Critical Minerals, tied to the pending W2 spin-out via plan of arrangement. Agnico Eagle Mines (the filer) subscribed $1,000,000 in the Second Tranche at $0.25 per receipt and secured an investor rights agreement granting board nomination rights and the ability to maintain or top up to a 19.99% ownership stake in W2.
Key figures
- Finders fee
- $402,588
- Finders warrants
- 1610350
- First tranche proceeds
- $5,763,750
- Second tranche proceeds
- $1,000,000
- Agnico ownership cap right
- 19.99%
- Subscription receipt price
- $0.25
- Total offering gross proceeds
- $10 million
- Third tranche planned proceeds
- $3,236,250
- Third tranche planned receipts
- 12945000
- First tranche subscription receipts
- 23055000
- Second tranche subscription receipts
- 4000000
AI analysis
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