Western Copper & Gold raises 92 million Canadian dollars in offering
The exploration company completed a bought deal public offering of 22,169,125 common shares on February 26, 2026.
Western Copper & Gold Corp (WRN), an exploration and permitting stage company focused on the Casino mineral property in Yukon, Canada, raised 92,001,869 Canadian dollars through a bought deal public offering on February 26, 2026. The offering consisted of 22,169,125 common shares priced at 4.15 Canadian dollars per share.
To complete the offering, the company paid a cash commission of 4,587,830 Canadian dollars to underwriters and incurred 1,103,229 Canadian dollars in other share issuance costs.
The company's equity position shifted over the first half of 2026. Total equity rose to 279,693,672 Canadian dollars as of June 30, 2026, compared to 193,218,187 Canadian dollars on December 31, 2025. This increase followed a period of capital growth where equity had risen from 191,689,960 Canadian dollars on June 30, 2025.
Western Copper & Gold continues to advance the Casino Project, which the company described as one of the largest undeveloped copper-gold deposits in Canada. Proven and probable mill ore reserves for the project totaled 1,217.1 million tonnes, with a copper equivalent grade of 0.40%. Proven and probable heap leach reserves totaled 209.6 million tonnes.
In other corporate developments, the company extended and revised an investor rights agreement with Rio Tinto on June 13, 2025. Under the revised terms, Rio Tinto continues to hold a seat on the Casino Project Technical and Sustainability Committee, though its previous board observer and potential board seat rights were extinguished.
Western said that while it has raised sufficient capital to fund current operations, it will need to raise additional funds if it progresses to the development and construction stage for the Casino Project. The company stated there can be no assurance that it will be able to raise such project financing in the future.