Whitehorse Gold Corp. announced a non-brokered private placement of 7,500,000 units at a price of CAD 0.40 per unit for gross proceeds of CAD 3,000,000 on November 4, 2022. Each unit consist of one common share of the company and one-half of one non transferable share purchase warrant.

Each warrant will entitle the holder thereof to acquire one share from the company at a price of CAD 0.65 per share for a period of 24 months from the closing of the transaction. The transaction will include participation from returning investor Silvercorp Metals Inc. and other insiders of the company have confirmed their intention to participate in the transaction by purchasing an aggregate of up to 5,000,000 units. The transaction is anticipated to close on or about November 30, 2022.

The closing of the transaction is subject to certain conditions, including the approval of the TSXV and certain other conditions customary for a private placement of this nature. All securities issued pursuant to the transaction will be subject to a statutory four-month and one-day hold period from the Closing Date. The company may pay a finder?s fee in respect of those purchasers under the transaction introduced to the company by certain persons.

Each finder will receive a cash payment equal to 6% of the gross proceeds.