12:44 PM EDT, 10/15/2025 (MT Newswires) -- White Gold (WGO.V) on Wednesday said it closed a brokered private placement of premium flow-through units and flow-through shares that raised $23 million, which included the exercise in full of the agents' option.

The offering included 9.41-million common-share units priced at $0.85 each and made up of a share and one half of a two-year warrant to buy a common share for $1.15; 8.54-million premium FT units priced at $1.17 each and including half a warrant with the same terms, and five-million FT shares priced at $1.00 each.

The company will use the gross proceeds from the sale of the FT units and the FT shares to incur exploration expenditures on its properties in the White Gold District in the Yukon prior to Dec. 31, 2026.

The gross proceeds from the sale of the units are expected to be used for working capital and general corporate expenses.

"This financing provides the resources to execute our largest drill program to date to build on the recent growth, targeting expanding the high-grade core as well as further expanding and/or testing the many other targets in close proximity, as well as ongoing economic evaluation," said Chief Executive David D'Onofrio. "Exploration activities will also continue to focus on unlocking value across our district scale land package targeting gold and critical mineral opportunities in the underexplored White Gold District, which is seeing resurgent interest along with other areas of the Yukon."

The company's shares were last seen up $0.09 to $1.17 on the TSX Venture Exchange.

Price: 1.17, Change: +0.09, Percent Change: +8.33