White Gold Corp. Announces Completion of First Tranches of Fully Subscribed $10M W2 Critical Minerals Corp. Subscription Receipt Financing
Key Highlights
- ➤W2 raises C$6.76M through first two subscription-receipt financing tranches
- ➤Agnico Eagle (AEM) invests C$1M in W2, receiving strategic board and participation rights
- ➤W2 financing remains fully subscribed at anticipated total proceeds of C$10M
- ➤White Gold expects W2 spin-out conditions to close in the near term
- ➤White Gold’s flagship project PEA outlines C$1.86B after-tax NPV and 41% IRR
Expert Statements
David D'Onofrio, Chief Executive Officer of White Gold Corp.
“We are very pleased with the strong interest in our W2 Spin-Out and the support from current and new strategic shareholders. The W2 critical mineral projects have benefited from over a decade of ground-up exploration, and now warrant the dedicated team, strategy and capital that W2 will bring to advance them further. We are also very pleased with progress of the White Gold exploration program, which includes our largest ever diamond drilling program on our flagship project designed to build upon the recently announced strong PEA results and demonstrate the potential to meaningfully further increase our gold resources and continue to make new discoveries. We look forward to the additional assays from this program building on the high-grade gold intercepts across multiple zones on multiple deposits recently announced”
Toronto, Ontario--(Newsfile Corp. - October 22, 2026) - White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W) ("White Gold") is pleased to announce that further to its press releases dated August 28, 2026 and May 5, 2026, that its wholly-owned subsidiary, W2 Critical Minerals Corp. ("W2") has closed the first (the "First Tranche") and second (the "Second Tranche") tranches of its non-brokered private placement offering for gross proceeds of up to $10 million (the "Offering") of subscription receipts (the "Subscription Receipts"). The balance of the Offering is fully subscribed and will be closed in due course. The Offering is being conducted in connection with the previously announced spin-out of W2 (the "Spin-Out") pursuant to a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). White Goldshareholders will be notified by White Gold of the record date and payment date of the Spin-Out shares via news release once all of the conditions to closing of the Spin-Out have been satisfied, which White Gold expects to occur in the near term. White Gold shareholders must hold their White Gold common shares until the record date of the Spin-Out in order to receive their pro rata portion of the common shares of W2 (the "W2 Shares") being distributed.
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