- Western Copper and Gold today announced a strategic equity investment by Mitsubishi Materials to further advance the company's copper-gold Casino project in the Yukon.
The company added that the exact number of shares to be issued, and proceeds to be received, by the company will depend on whether Rio Tinto Canada elects to exercise its pre-existing right to participate on a pro rata basis in equity financings by the company to maintain its current ownership interest, which based on public filings is approximately 7.84%.
"We are pleased to welcome Mitsubishi Materials as a strategic investor in the company," said Paul West-Sells, President and CEO."The investment by Mitsubishi Materials is a strong endorsement of the Casino project. We look forward to working with Mitsubishi Materials to advance Casino."
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