The Prospector News

Western Uranium & Vanadium Corp. Closes Oversubscribed Second Tranche of Private Placement for $4,000,000

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Western Uranium & Vanadium Corp. Closes Oversubscribed Second Tranche of Private Placement for $4,000,000

 

 

 

 

 

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) is pleased to announce the second closing of its non-brokered private placement (please refer to the news release issued by Western on December 17, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds of CAD$3,992,920 through the issuance of 2,495,575 units at a price of CAD$1.60 per Unit. The total raised in the two tranches of this Private Placement of 2,868,541 Units aggregates to approximately CAD$4,589,666. Subsequent to the closing of the first tranche, Western obtained exchange approval to increase the Private Placement size to satisfy investors’ oversubscription demand.

 

Each Unit consists of one common share of Western plus one common share purchase warrant of Western. Each Warrant shall entitle the holder to purchase one Share at a price of CAD$2.50 per Share for a period of three years following the closing date of the Private Placement. A total of 2,868,541 Shares and 2,868,541 Warrants are being issued in the two tranches of the Private Placement.

 

The Warrants contain a provision that if the Company’s Shares trade at or above CAD$5.00 per Share for 10 consecutive trading days, the Company may, at any time after the expiry of the applicable statutory hold period, accelerate the expiration of the Warrants upon not less than 30 days’ written notice by the Company.

 

The Company anticipates that the net proceeds of the Private Placement will be used for expansion and extension of the Sunday Mine Complex project, for business development capital purposes, and for general corporate and working capital purposes.

 

Securities issued pursuant to the Private Placement shall be subject to a minimum six (6) month hold period.  The closing of the Private Placement remains subject to final regulatory approval.

 

The securities offered and sold have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 

About Western Uranium & Vanadium Corp.

 

Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.

 

Posted January 20, 2022

Share this news article

MORE or "UNCATEGORIZED"


Spanish Mountain Gold Announces Larger Scale Preliminary Economic Assessment With a Base Case NPV5% After-Tax of C$1.0 Billion, 18.2 % IRR and 3.4 Year Payback at US$ 2,450/Oz Gold Price; at US$3,300/Oz Spot Gold Price NPV5% C$2.3 Billion, 32.0% IRR and 2.0 Year Payback; Including an Updated Mineral Resource Estimate for Its Spanish Mountain Gold Project

Spanish Mountain Gold Ltd. (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF)... READ MORE

July 4, 2025

Aura Announces Preliminary Q2 2025 Production Results

Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) is plea... READ MORE

July 4, 2025

Cascadia Announces Closing of Financing

Cascadia Minerals Ltd. (TSX-V:CAM) (OTCQB:CAMNF) is pleased to an... READ MORE

July 4, 2025

Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to anno... READ MORE

July 4, 2025

Mishkeegogamang First Nation and First Mining Sign Long Term Relationship Agreement for the Development of the Springpole Gold Project

Agreement setting out the significant participation of Mishkeegog... READ MORE

July 4, 2025

Copyright 2025 The Prospector News