White Gold Corp. Closes C$4.1 Million Private Placement

TORONTO, July 29, 2021 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company” or “White Gold”) is pleased to announce it has closed its previously announced brokered private placement consisting of the sale of units (the “Units”), premium flow-through units (the “FT Units”) and common shares issued as “flow-through shares” (the “FT Shares”, and together with the Units and FT Units, the “Offered Securities”), for aggregate gross proceeds of approximately $4.18 million (the “Offering”).

“We are very grateful for the continued support of our major shareholders and the other participants in this financing. Our 2021 field season is now well underway, focused on highly anticipated new targets, recent discoveries, and our existing mineral resources as we seek to further demonstrate the expansiveness of gold mineralization in the White Gold District, and the effectiveness of our exploration methodologies. Further details to be provided in due course,” stated David D’Onofrio, Chief Executive Officer.

The Offering was conducted by Clarus Securities Inc. (“Clarus” or the “Lead Agent”) and a syndicate of agents including Eight Capital and Stifel GMP (together with the Lead Agent the “Agents”), which consisted of the sale of: 1,302,000 Units (including the partial exercise of the Agents’ over-allotment option) at a price of $0.65 per Unit, 2,538,462 FT Units at a price of $0.87 per FT Unit, and 1,507,400 FT Shares at a price of $0.75 per FT Share. Each Unit was comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at a price of $0.80 for a period of 24 months following the closing date of the Offering. Each FT Unit was comprised of one FT Share and one-half of one Warrant. The Warrants were issued pursuant to a warrant indenture dated July 29, 2021 between the Company and Computershare Trust Company of Canada, as warrant agent. The FT Shares and the FT Shares underlying the FT Units were issued as “flow-through shares” as defined in the subsection 66(15) of the Income Tax Act (Canada).