{"id":447800,"date":"2021-03-01T22:18:29","date_gmt":"2021-03-02T03:18:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=447800"},"modified":"2021-03-01T22:18:29","modified_gmt":"2021-03-02T03:18:29","slug":"western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/","title":{"rendered":"Western Uranium &amp; Vanadium Corp. Closes Final Tranche  of Non-Brokered Private Placement"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Toronto, Ontario and Nucla, Colorado , March  01, 2021  (GLOBE NEWSWIRE) &#8212; Western Uranium &amp; Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (\u201c<b>Western<\/b>\u201d or the \u201d<b>Company<\/b>\u201d) is pleased to announce the closing of a second and final tranche of its non-brokered private placement (the \u201c<b>Private Placement<\/b>\u201d) (please refer to the news release issued by Western on February 16, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds CAD$2,500,000 through the issuance of 3,125,000 units (the \u201d<b>Units<\/b>\u201d) at a price of CAD$0.80 per Unit. The total raised in the two tranches of this Private Placement of 6,375,000 Units aggregates to CAD$5,100,000. Western used 100% of the overallotment option to issue the maximum quantity of authorized Units to satisfy investors&#8217; oversubscription demand. <\/p>\n<p align=\"justify\">Each Unit consists of one common share of Western (a &#8220;<b>Share<\/b>&#8220;) plus one common share purchase warrant of Western (a \u201c<b>Warrant<\/b>\u201d). Each Warrant shall entitle the holder to purchase one Share at a price of CAD$1.20 per Share for a period of three years following issuance.\u00a0 A total of 6,375,000 Shares and 6,375,000 Warrants are being issued in the two tranches of the Private Placement.<\/p>\n<p align=\"justify\">The Warrants contain a provision that if the Company\u2019s Shares trade at or above CAD$2.40 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\u2019 written notice by the Company (the \u201c<b>Acceleration Clause<\/b>\u201d). <\/p>\n<p align=\"justify\">The Company anticipates that the net proceeds of the Private Placement will be used to secure value-added opportunities, fund follow-on work at the five mines comprising the Sunday Mine Complex, the exploration and development of a second production center and for general corporate and working capital purposes.<\/p>\n<p align=\"justify\">In connection with the second tranche of the Private Placement, the Company is paying CAD$8,952 in finder\u2019s fees plus 11,190 compensation warrants exercisable for three years, each warrant being exercisable at CAD$0.94 per Share of the Company. The compensation warrants are subject to the Acceleration Clause. For details on the finder\u2019s fee paid in connection with the first tranche of the Private Placement, please refer to the news release issued on February 16, 2021.<\/p>\n<p align=\"justify\">Securities issued pursuant to the Private Placement shall be subject to a minimum six (6) month hold period. \u00a0The closing of the Private Placement remains subject to final regulatory approval. <\/p>\n<p>\n        <b>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.<\/b>\n      <\/p>\n<p align=\"justify\">\n        <b>A<\/b><br \/>\n        <b>bout Western Uranium &amp; Vanadium Corp. <\/b>\n      <\/p>\n<p align=\"justify\">Western Uranium &amp; 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. <\/p>\n<p align=\"justify\">\n        <b>Cautionary Note Regarding Forward-Looking Information:<\/b> Certain information contained in this news release constitutes \u201cforward-looking information\u201d or a \u201cforward-looking statements\u201d within the meaning of applicable securities laws (collectively, \u201cforward-looking statements\u201d).\u00a0 Statements of that nature include statements relating to, or that are dependent upon: the Company\u2019s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans;\u00a0 whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company\u2019s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company\u2019s ability to control or predict. Please refer to the Company\u2019s most recent Management\u2019s Discussion and Analysis, as well as its other filings at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OeKKkuCzhYhghpHxVVhwd2k3K1KgGJx8vQZtucoli6tZY7_oyNPGDnLd7-oBEJaRIHuKG7XG7VOu7KHoZWgqMQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.sec.gov<\/u><\/a> and\/or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OeKKkuCzhYhghpHxVVhwd5QmN7xrFuITfoKwwdzcsgIJ-J01JbZNtXju7_bMOaaHYFPFiP7Peoqp7QDdYw4y0g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.sedar.com<\/u><\/a>, for a more detailed review of those risk factors.\u00a0 Readers are cautioned not to place undue reliance on the Company\u2019s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.<\/p>\n<p align=\"justify\">\n        <b>FOR ADDITIONAL INFORMATION, PLEASE CONTACT<\/b>:<br \/><b>George Glasier\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b><br \/>President and CEO \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <br \/>970-864-2125\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <br \/>gglasier@western-uranium.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/p>\n<p align=\"justify\">\n        <b>Robert Klein<\/b><br \/>\n        <br \/>Chief Financial Officer<br \/>908-872-7686<br \/>rklein<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=B2CeUnkbt6SUzXTXsUZIBYH5qpWdbzb3oNO9oD7q6SXdjEQ8PAFpVdzqLq5RpGjxtBtEpueAXwhIM6EM7v7wuKgj-x8mPU1N3gGf_YyTwL4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">@western-uranium.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4MjQ2MiM0MDQzMjU3IzUwMDA3Mjg5OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/cba9a080-ea85-4ae3-84e1-21c7fe8278bf\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, Ontario and Nucla, Colorado , March 01, 2021 (GLOBE NEWSWIRE) &#8212; Western Uranium &amp; Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (\u201cWestern\u201d or the \u201dCompany\u201d) is pleased to announce the closing of a second and final tranche of its non-brokered private placement (the \u201cPrivate Placement\u201d) (please refer to the news release issued by Western on February 16, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds CAD$2,500,000 through the issuance of 3,125,000 units (the \u201dUnits\u201d) at a price of CAD$0.80 per Unit. The total raised in the two tranches of this Private Placement of 6,375,000 Units aggregates to CAD$5,100,000. Western used 100% of the overallotment option to issue the maximum &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Western Uranium &amp; Vanadium Corp. Closes Final Tranche  of Non-Brokered Private Placement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-447800","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Western Uranium &amp; Vanadium Corp. Closes Final Tranche of Non-Brokered Private Placement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Western Uranium &amp; Vanadium Corp. Closes Final Tranche of Non-Brokered Private Placement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Toronto, Ontario and Nucla, Colorado , March 01, 2021 (GLOBE NEWSWIRE) &#8212; Western Uranium &amp; Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (\u201cWestern\u201d or the \u201dCompany\u201d) is pleased to announce the closing of a second and final tranche of its non-brokered private placement (the \u201cPrivate Placement\u201d) (please refer to the news release issued by Western on February 16, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds CAD$2,500,000 through the issuance of 3,125,000 units (the \u201dUnits\u201d) at a price of CAD$0.80 per Unit. The total raised in the two tranches of this Private Placement of 6,375,000 Units aggregates to CAD$5,100,000. Western used 100% of the overallotment option to issue the maximum &hellip; Continue reading &quot;Western Uranium &amp; Vanadium Corp. 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Closes Final Tranche of Non-Brokered Private Placement - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/","og_locale":"en_US","og_type":"article","og_title":"Western Uranium &amp; Vanadium Corp. Closes Final Tranche of Non-Brokered Private Placement - Market Newsdesk","og_description":"Toronto, Ontario and Nucla, Colorado , March 01, 2021 (GLOBE NEWSWIRE) &#8212; Western Uranium &amp; Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (\u201cWestern\u201d or the \u201dCompany\u201d) is pleased to announce the closing of a second and final tranche of its non-brokered private placement (the \u201cPrivate Placement\u201d) (please refer to the news release issued by Western on February 16, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds CAD$2,500,000 through the issuance of 3,125,000 units (the \u201dUnits\u201d) at a price of CAD$0.80 per Unit. The total raised in the two tranches of this Private Placement of 6,375,000 Units aggregates to CAD$5,100,000. Western used 100% of the overallotment option to issue the maximum &hellip; Continue reading \"Western Uranium &amp; Vanadium Corp. Closes Final Tranche of Non-Brokered Private Placement\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-02T03:18:29+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4MjQ2MiM0MDQzMjU3IzUwMDA3Mjg5OQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/western-uranium-vanadium-corp-closes-final-tranche-of-non-brokered-private-placement\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Western Uranium &amp; Vanadium Corp. 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