Cassowary completes qualifying transaction, concurrent financing and name change to Western Gold Exploration Ltd.

27 October 2020

On October 27, 2020, Western Gold Exploration Ltd. (formerly Cassowary Capital Corporation Limited) (TSXV: WGLD) (the "Company") announced that it had completed its previously announced Qualifying Transaction. 

As a result, the Company is now a Tier 2 mining issuer under the policies of the TSX Venture Exchange and engaged in the exploration and development of its prospective mineral properties located in Argyll County in western Scotland, with a focus on gold and copper exploration and development. 

In connection with the completion of the transaction, subscription receipts issued by the Company on August 19, 2020, were automatically converted into common shares for gross proceeds to the Company of $1.7 million.

Gowling WLG advised the Company in this transaction with a team that included Gordon Chmilar, Stuart Olley and Martin Mix.


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