Western Uranium & Vanadium Announces Brokered LIFE Financing of $5 Million

Core Viewpoint - Western Uranium & Vanadium Corp. has announced a bought deal private placement financing to raise approximately Cdn$5,000,000 through the issuance of 5,555,556 units at a price of Cdn$0.90 per unit [1] Group 1: Offering Details - Each unit in the offering consists of one common share and one common share purchase warrant, with the warrant exercisable at a price of Cdn$1.20 for a period of four and a half years [1] - The offering will be conducted under the listed issuer financing exemption (LIFE) in all provinces of Canada except Québec, and in certain other jurisdictions [2] - The closing of the offering is subject to necessary approvals, including compliance with Canadian Securities Exchange (CSE) requirements [3] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for various purposes, including: - Permitting of Mustang Mineral Processing Plant - Drilling, monitoring, and permitting for the San Rafael Uranium Project - Mine development and maintenance across the production portfolio - Permitting and baseline data collection for Topaz Mine - General corporate working capital, including administrative costs [4] Group 3: Company Overview - Western Uranium & Vanadium Corp. is focused on developing high-grade uranium and vanadium production, with ongoing projects in Colorado and Utah [7] - The company is currently licensing and developing the Mustang Mineral Processing Plant, which may utilize kinetic separation to enhance economic efficiency [7] - Western holds several resource properties, including the Sunday Mine Complex, its flagship property located in the Uravan Mineral Belt [7]