04:54 PM EDT, 05/06/2024 (MT Newswires) -- Western Copper and Gold Corporation ( WRN ) said after trade Monday it completed the previously announced private placement with Rio Tinto's (RIO) Canadian unit, pursuant to Rio Tinto's subscription rights as a result of the company's recent issuance of common shares.

Monday's statement noted Rio Tinto acquired 2,61-million shares at a price of C$1.90 per share for proceeds of C$4.96 million, allowing Rio Tinto to maintain its interest at approximately 9.7%.

Western shares closed up C$0.05 to C$2.05 on the Toronto Stock Exchange.