western copper  gold corp said mitsubishi materials corp has made a strategic investment in the company for 213 million canadian dollars us155 million to support western coppers coppergold project in the yukon on friday it said mitsubishi materials has agreed to acquire up to about 5 of the issued and outstanding shares at a price of c263 a share western copper noted that the exact number of shares it will issue would depend on partner rio tinto canada inc and if it chooses to maintain its current ownership of 784 if rio tinto chooses to exercise its participation right in full then western copper expects to issue 91 million shares to mitsubishi materials for c213 million and 878809 to rio tinto for c23 million the investment by mitsubishi materials would go towards further advancing development of western coppers casino project in canadas yukon territory the closing of the investment is expected to occur on april 14