Western Copper and Gold Corporation (TSX: WRN | NYSE American: WRN) has announced the appointment of Sandeep Singh as company CEO effective immediately. Singh will work closely with Dr. Paul West-Sells, who will continue in the role of president in connection with the succession process.
Further, Kenneth Williamson has retired from his role as director and interim chairman. Current board member, Dr. Bill Williams, has taken on the role of interim chairman as the company searches for a replacement.
The company also announced a C$3M private placement with Singh for the purchase of 2.22M shares at C$1.35 each. The closing of the placement is subject to entering into a customary subscription agreement and the receipt of approvals of the Toronto Stock Exchange and the NYSE American LLC. The shares issued pursuant to the placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws.
“The board is delighted to have someone of Sandeep’s caliber joining the team. Throughout his impressive career, he has shown a dedication to stakeholder value, above all else, and will be aligned with shareholders through a significant personal investment into the company,” commented Dr. Williams.
“With Sandeep’s addition, we are strengthening the company’s management capabilities to better unlock the value potential of the Casino project.”
As a respected mining professional with 20 years of sector expertise, the company says that he adds meaningful capital markets and strategic expertise. He was previously the president and CEO of Osisko Gold Royalties, where he led the successful turnaround of the company.
For the fifteen years prior, Singh was an investment banker focusing on the North American metals and mining sector with BMO Capital Markets, Dundee Securities, and ultimately co-founded Maxit Capital, a leading independent M&A firm.
He has advised numerous mining companies on financing alternatives and strategic matters as well as having acted on some of the most complex and value-enhancing M&A transactions in the mining sector. Singh holds a bachelor of mechanical engineering degree from Concordia University and a masters of business administration degree from Oxford University.
For further information, please visit: www.westerncopperandgold.com
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