Western Uranium & Vanadium Closes Brokered LIFE Financing of $5.9 Million

Core Viewpoint - Western Uranium & Vanadium Corp. has successfully closed a bought deal private placement financing, raising approximately Cdn$5,900,000 through the issuance of 6,555,556 units at Cdn$0.90 per unit, each unit consisting of one common share and one warrant [1][2]. Financing Details - The financing involved the issuance of units, with each unit priced at Cdn$0.90, resulting in total gross proceeds of about Cdn$5,900,000 [1]. - Each warrant is exercisable for one common share at a price of Cdn$1.20 for a period of four and a half years from issuance [1]. - The net proceeds will be allocated to various projects, including permitting for the Mustang Mineral Processing Plant, drilling for the San Rafael Uranium Project, and general corporate working capital [2]. Underwriting and Regulatory Information - The offering was underwritten by A.G.P. Canada Investments ULC, which received a 7% cash commission on the proceeds and 229,444 broker warrants, subject to a four-month hold period [4]. - The offering was conducted under the listed issuer financing exemption, allowing the shares and warrants to be offered without a statutory hold period in Canada, except Québec [3]. Company Overview - Western Uranium & Vanadium Corp. is focused on developing high-grade uranium and vanadium production, with ongoing projects in Colorado and Utah [6]. - The company is currently licensing and developing the Mustang Mineral Processing Plant and holds several resource properties, including the Sunday Mine Complex [6].