Casino Mining Corp., a wholly-owned subsidiary of Western Copper and Gold Corp., and Cariboo Rose Resources Ltd. announced that they have completed the transaction planned under the property purchase agreement dated July 29th, 2019 between the companies (the “Purchase Agreement”) formerly announced on July 30th, 2019.
According to the Purchase Agreement, Casino Mining bought the 311 mineral claims that include the Canadian Creek Property (the “Property”) from Cariboo Rose Resources. The Property is strategically located between Newmont Goldcorp’s Coffee Project and the Casino Project.
The purchase secures crucial ground directly next to the Casino Project, and it is believed that the Casino deposit will reach till the Property.
The total consideration paid for the Property comprises three million common shares of Western (the “Shares”) at a deemed price of C$0.928 per Share to Cariboo Rose. The Shares are conditional on a hold period and per se may not be traded until December 29th, 2019.