RSS SubscribeToronto, Ontario – October 22, 2026 –White Gold Corp. (“White Gold”) (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) is pleased to announce that further to its press releases dated August 28, 2026 and May 5, 2026, that its wholly-owned subsidiary, W2 Critical Minerals Corp. (“W2”) has closed the first (the “First Tranche”) and second (the “Second Tranche”) tranches of its non-brokered private placement offering for gross proceeds of up to $10 million (the “Offering”) of subscription receipts (the “Subscription Receipts”). The balance of the Offering is fully subscribed and will be closed in due course. The Offering is being conducted in connection with the previously announced spin-out of W2 (the “Spin-Out”) pursuant to a plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). White Gold shareholders will be notified by White Gold of the record date and payment date of the Spin-Out shares via news release once all of the conditions to closing of the Spin-Out have been satisfied, which White Gold expects to occur in the near term. White Gold shareholders must hold their White Gold common shares until the record date of the Spin-Out in order to receive their pro rata portion of the common shares of W2 (the “W2 Shares”) being distributed.
Pursuant to the First Tranche, W2 issued a total of 23,055,000 Subscription Receipts at a price of $0.25 per Subscription Receipt, for aggregate gross proceeds of $5,763,750 (the “First Tranche Proceeds”). Pursuant to the Second Tranche, W2 issued a total of 4,000,000 Subscription Receipts to Agnico Eagle Mines Limited (“Agnico Eagle”) (TSX: AEM; NYSE: AEM) for gross proceeds of $1,000,000 (the “Second Tranche Proceeds” and together with the First Tranche Proceeds, the “Proceeds”). In connection with Agnico Eagle’s investment, W2 and Agnico Eagle have entered into an investor rights agreement (the “Investor Rights Agreement”), which will become effective upon the completion of the Arrangement. The Investor Rights Agreement provides Agnico Eagle with certain rights, provided it maintains certain ownership thresholds in W2, including: (i) the right to nominate one person (and, in the case of an increase in the size of W2’s board of directors to eight or more directors, two persons) to W2’s board of directors; and (ii) the right to participate in certain equity offerings or top-up its holdings in relation to dilutive issuances in order to maintain its unaffected ownership interest in W2 or increase its ownership interest to 19.99%. The Investor Rights Agreement terminates immediately at such time as Agnico Eagle’s ownership percentage is less than 5%.