Western Uranium & Vanadium Corp. completes private placement without intermediary | News
Toronto, Ontario and Nucla, Colorado, December 17, 2021 (GLOBE NEWSWIRE) – Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (âWesternâ or the âCompanyâ) is pleased to announce the closing of a non-intermediary private placement (the âPrivate Placementâ) of 372,966 units (the âUnitsâ). â) At a price of CA $ 1.60 per Unit. The total gross proceeds raised in connection with this private placement amount to CA $ 596,746.
Each Unit consists of one Western Common Share (a âShareâ) and one Western Common Share Purchase Warrant (a âWarrantâ). Each warrant will allow its holder to purchase one share at a price of C $ 2.50 per share for a period of three years following the closing date of the private placement. A total of 372,966 shares and 372,966 warrants were issued as part of the private placement.
The warrants contain a provision that if the shares of the Company are trading at or above C $ 5.00 per share for 10 consecutive trading days, the Company may at any time after the expiration of the applicable legal holding period, accelerate the expiration of the warrants upon at least a written notice of more than 30 days by the Company (the âAcceleration Clauseâ).
The Company expects that the net proceeds of the private placement will be used to complete the strategic acquisition of the physical uranium transaction that was previously announced by press release on June 2, 2021.
The securities issued within the framework of the Private Placement will be subject to a minimum holding period of six (6) months. The closing of the private placement remains subject to final regulatory approval.
The securities offered and sold have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is a Colorado-based conventional uranium and vanadium mining company focused on the short-term, low-cost production of uranium and vanadium in the western United States, as well as the development and application of kinetic separation.
Caution Regarding Forward-Looking Information: Certain information contained in this press release constitutes âforward-looking informationâ or âforward-looking statementsâ within the meaning of applicable securities laws (collectively, âforward-looking statementsâ). Statements of this nature include statements relating to, or dependent on: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the schedule of planned activities; whether the Company can raise additional funds necessary to implement its plans; whether regulatory or similar requirements can be met to allow the planned activities; and more generally to the Company’s activity, and to the economic and political environment applicable to its operations, assets and projects. All of these forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the most recent MD&A of the Company, as well as its other documents filed at www.sec.gov and / or www.sedar.com, for a more detailed discussion of these risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that such statements are made as of the date hereof. Although the Company may do so, it does not undertake any obligation to update these forward-looking statements at any time, except to the extent and to the extent required by applicable laws and regulations.
FOR FURTHER INFORMATION PLEASE CONTACT: George Glasier President and CEO 970-864-2125 [email protected]
Robert Klein Chief Financial Officer 908-872-7686 rklein @ western-uranium.com
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