Western Copper and Gold Announces AGM Results
VANCOUVER, BC--(Marketwired - June 20, 2017) - Western Copper and Gold Corp. ("Western" or the "Company") (TSX: WRN) (NYSE MKT: WRN) is pleased to announce the voting results from the Company's Annual General Meeting ("AGM") held in Vancouver, British Columbia on June 20, 2017.
ANNUAL GENERAL MEETING
A total of 38,943,930 common shares were represented at the AGM, representing 40.95% of the votes attached to all outstanding common shares as at the record date. All of the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and information circular, both dated May 4, 2017, were approved by the requisite majority of votes cast at the AGM.
Shareholders voted in favour of setting the number of directors at five (5) and elected all incumbent directors. The details of the voting results for the election are set out below:
| Director | Votes For | % For | Votes Withheld | % Withheld | |||||
| Dale Corman | 27,674,801 | 99.70% | 83,847 | 0.30% | |||||
| Robert Gayton | 27,701,356 | 99.79% | 57,292 | 0.21% | |||||
| Archie Lang | 27,642,010 | 99.58% | 116,638 | 0.42% | |||||
| David Williams | 27,655,042 | 99.63% | 103,606 | 0.37% | |||||
| Klaus Zeitler | 27,664,789 | 99.66% | 93,859 | 0.34% | |||||
Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at the remuneration to be set by the directors.
The Company's report of voting results will be available on SEDAR (www.sedar.com), EDGAR (www.sec.gov/edgar.shtml), and on the Company's website.
CHAIRMAN'S MESSAGE
Dale Corman, Western's Executive Chairman, provides a brief company update and commentary on commodities and the flurry of activity in the Yukon in his Letter to Shareholders, which is available at www.westerncopperandgold.com/events/agm-2017.
"At the beginning of 2016 gold prices soared off of 2015 lows and Western's share price responded well. While there are a lot of analysts that are bullish on the direction of gold in 2017, it is the expected rise in copper prices that will provide the next major move in copper equities which includes Western Copper and Gold. Years of underinvestment in mine development; production decreases at some of the world's largest mines; renewed resource nationalization; and the imposition of export or mining bans are negatively impacting supply. Concurrently, demand continues to increase due to growth in developing countries, improved economic reports out of China and the US, as well as a worldwide push for "green" technologies. All these factors are leading to investors beginning to pay attention to the large looming copper supply gap. As evidence, late in 2016 we saw a quick rebound in copper prices as they rallied over $0.50 through $2.50 per pound; a first step in what we believe will be a sustained positive price movement throughout the remainder of 2017.
There is no hotter exploration jurisdiction than the Yukon right now. In May 2016, Goldcorp acquired Kaminak's Coffee Project, which is adjacent to the Casino deposit. Goldcorp's acquisition has spurred a number of majors to take positions in the area, with over half a dozen transactions by major companies in the surrounding territory since then."
ABOUT WESTERN COPPER AND GOLD CORPORATION
Western Copper and Gold Corp. is developing the Casino Project, Canada's premier Copper-Gold mine in the Yukon Territory. For more information, visit www.westerncopperandgold.com.
On behalf of the board,
"Paul West-Sells"
Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corp.
Cautionary Disclaimer Regarding Forward-Looking Statements and Information
This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding perceived merit of properties; mineral reserve and resource estimates; capital expenditures; feasibility study results (including projected economic returns, operating costs, and capital costs in connection with the Casino Project); exploration results at the Company's property; budgets; work programs; permitting or other timelines; strategic plans; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.
Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.
Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
Contact
For more information, please contact:
Chris Donaldson
Manager, Corporate Development
604.638.2520
cdonaldson@westerncopperandgold.com