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White Gold to raise up to C$10M to fund exploration

White Gold Corp. said May 31 that it will raise up to C$10 million through a best-efforts placement of up to 10,526,600 flow-through common shares at 95 Canadian cents each to fund exploration work.

The miner enlisted Clarus Securities Inc. and GMP Securities LP as lead agents, with Primary Capital Inc., Canaccord Genuity Group Inc. and Sprott Capital Partners LP acting as agents of the share placement.

Additionally, Agnico Eagle Mines Ltd. and Kinross Gold Corp. will participate in the placement in order to retain their respective 19.9% stakes in White Gold.

The offering is anticipated to close on or around June 21.

In April, White Gold was admitted to the Nasdaq International Designation program in the U.S., with its shares trading under the ticker WHGOF.