Western Uranium & Vanadium Announces Upsize of Brokered LIFE Financing to $5.9 Million
October 9, 2025
Western Uranium & Vanadium Announces Upsize of Brokered LIFE Financing to $5.9 Million
THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
FOR IMMEDIATE RELEASE.
Toronto, Ontario and Nucla, Colorado - Western Uranium & Vanadium Corp. (CSE: WUC) (“ Western” or the
”Company”) is pleased to announce that, further to its news release dated October 8, 2025 , and as a result of strong
investor demand, the Company has increased the size of its previously announced offering from Cdn$5 ,000,000 to
Cdn$5,900,000 with the issuance of 6,555,556 units at a price of $0.90 per unit (the “Offering”). Each unit to be placed
in the Offering (each, a “ Unit”) will be comprised of one common share and one common share purchase warrant, with
each whole warrant being exercisable for one common share of the Company at a price of Cdn$1.20 per share, for a
period of four years and a half from the date of issuance.
A.G.P. Canada Investments ULC (" A.G.P. Canada ") is acting as sole underwriter and bookrunner for the Company in
connection with the Offering.
The Units to be issued under the Offering will be offered to purchasers pursuant to the listed issuer financing exemption
(“LIFE”) under Part 5A of National Instrument 45 -106– Prospectus Exemptions in all the provinces of Canada, except
Québec, and in certain other jurisdictions pursuant to applicable securities laws. The securities issuable pursuant to the
LIFE exemption will not be subject to any statutory hold period under applicable Canadian securities laws. The Company
has filed an amended and restated offering document (the “Amended Offering Document”) related to the Offering, and
the Amended Offering Document can be accessed under the Company's profile at www.sedarplus.com, and on the
Company's website at www.western-uranium.com. Prospective investors should read the Amended Offering Document
before making an investment decision.
Closing of the Offering is subject to certain conditions and receipt of all necessary approvals, including compliance with
the requirements of the Canadian Securities Exchange (“CSE”).
As described in greater detail in the Amended Offering Document, the net proceeds of the Offering will be used follows:
(a) permitting of Mustang Mineral Processing Plant; (b) drilling, monitoring and permitting for the San Rafael Uranium
Project; (c) mine development and maintenance across the production portfolio; (c) permitting and baseline data
collection for Topaz Mine; and (e) general corporate working capital purposes, including general and administrative
costs.
In addition, the Units will be offered in the United States on a private placement basis pursuant to available exemptions
from the registration requirements under the United States Securities Act of 1933, as amended (the " U.S. Securities
Act"); and in such other jurisdictions outside of Canada and the United States, as agreed upon by A.G.P. Canada and the
Company, pursuant to available prospectus and registration exemptions in accordance with applicable laws.
The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state
securities laws, and accordingly, may not be offered or sold within the United State s or to, or for the account or benefit
of, U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state
securities laws or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities in any jurisdiction.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is developing high -grade uranium and vanadium production . Western is currently
licensing and developing t he Mustang Mineral Processing Plant for mined material recovery which may incorporate
kinetic separation to optimize economics . Western holds a number of resource properties including the Sunday Mine
Complex, its flagship property located in the prolific Uravan Mineral Belt. The production pipeline encompasses multiple
conventional projects in Colorado an d Utah that are currently undergoing permitting and development . The Company
continues to review opportunities to acquire and develop additional complementary properties in proximity to the
processing plant site.
Cautionary Note Regarding Forward-Looking Information:
Certain information contained in this news release constitutes “forward -looking information” or “forward -looking
statements” within the meaning of applicable securities laws (collectively, “forward -looking statements”). Statements
of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and
projections regarding the Offering , timing and/or completion (if any) of the Offering , intended use of proceeds of the
Offering, approval of the CSE and filing of the Amended Offering Document; exploration and production plans and
results; the timing of planned activities; whether the Company can raise any additional funds required to implement its
plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally
to the Company’s business, and the economic and political environment applicable to its operations, assets and plans.
All such forward-looking statements are subject to important risk factor s and uncertainties, many of which are beyond
the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and
Analysis, as well as its other filings on www.sedarplus.com, for a more detailed review of those risk factors. Readers are
cautioned not to place undue reliance on the Company’s forward -looking statements, and that these statements are
made as of the date hereof. While the Company may do so, it does not undert ake any obligation to update these
forward-looking statements at any particular time, except as and to the extent required under applicable laws and
regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
Robert Klein
Chief Financial Officer
908-872-7686
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy
or accuracy of this release.