By Adriano Marchese
Western Copper & Gold has revisited its investor agreement with Mitsubishi Materials to extend its rights and obligations for another year.
The Canadian miner, which is developing a copper project in the Yukon Territory, said Tuesday that under the new terms, Mitsubishi Materials will be able to keep certain rights and responsibilities until May 30, 2026, as long as the company buys two million shares of Western through open market purchases.
Western Copper said that the stock purchases won't affect existing shareholders because it isn't issuing new shares, allowing Mitsubishi's stake in Western to return to around 5%.
"Their continued support through this proposed new investment, made through non-dilutive, open market purchases, is another vote of confidence in the team and the Casino Project," Western Copper Chief Executive Sandeep Singh said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 15, 2025 07:49 ET (11:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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