Western Uranium & Vanadium Closes Bought Deal Financing of CAD $5 Million
June 13, 2025
Western Uranium & Vanadium Closes Bought Deal Financing of CAD $5 Million
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) (OTCQX: WSTRF) (“ Western”
or the ” Company”) is pleased to announce the closing of its bought deal private placement financing , which was
previously announced in the Company’s news release issued on June 10, 2025. Pursuant to the financing, Western
issued a total of 5,911,786 units at a price of CAD $ 0.85 per unit (each, a “ Unit”) for aggregate gross proceeds of
approximately CAD $5,025,018 (the “Offering”) with each Unit being comprised of one common share (e ach, a “Share”)
and one common share purchase warrant (each, a “ Warrant”). Each Warrant is exercisable for one Share of the
Company at a price of CAD $ 1.05 per Share, for a period of four (4) years from the date of its issuance. A total of
5,911,786 Shares and 5,911,786 Warrants were issued in the Offering.
The Company intends to use the net proceeds of the Offering for the expansion of the production capability and mining
at the Sunday Mine Complex, licensing and development of minerals processing faciliti es, baseline data collection and
permitting of the San Rafael Project, acquisition of uranium/vanadium properties in close proximity to Western’s
production centers, purchase of additional mining equipment and for general working capital purposes.
The Units were issued to investors who are residents in the United States pursuant to available exemptions from the
registration requirements under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), and
were also issued in su ch other jurisdictions outside of Canada pursuant to Ontario Securities Commission Rule 72 -503 –
Distributions Outside Canada (“Rule 72-503”). The Units issued to investors outside Canada pursuant to Rule 72 -503 are
not subject to any statutory hold period under applicable Canadian securities laws. No Units were issued to investors in
Canada.
The CEO and President of Western, George Glasier, participate d in the Offering by subscribing for a total of 117,647
Units. Mr. Glasier’s participation is considered a “related-party transaction” within the meaning of Multilateral
Instrument 61 -101 - Protection of Minority Security Holders in Special Transactions (“MI 61 -101”). Western rel ied on
exemptions from the formal valuation and minority shareholder approval requ irements provided under sections 5.5(a)
and 5.7(1)(a) of MI 61 -101 on the basis that Mr. Glasier’s participation in the Offering did not exceed 25% of the fair
market value of the Company’s market capitalization. The Company did not file a material change report more than 21
days before the expected closing of the Offering as the details of the participation therein by related parties of the
Company were not settled until shortly prior to closing of the Offering and the Company close d the Offering on an
expedited basis for sound business reasons.
In connection with the Offering, Western entered into a n underwriting agreement with A.G.P. Canada Investment ULC
(the “Underwriter”) pursuant to which the Underwriter acted as the sole underwriter and bookrunner for the Company.
The Underwriter received a fee comprised of a cash commission of 7% on the aggregate proceeds from Units and
206,913 broker warrants which are subject to a four -month statutory hold from the date of their issuance.
A.G.P./Alliance Global Partners acted as sole U.S. placement agent for the Offering.
Closing of the Offering was subject to certain conditions and receipt of all necessary approvals, and is subject to
compliance with post-closing requirements of the Canadian Securities Exchange (“CSE”).
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 States 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 of fer 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 ramping -up high-grade uranium and vanadium production at its Sunday Mine
Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also
includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and
developed for mined material recovery and will incorporate kinetic separation to optimize economics.
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 use of funds of the Offering, and
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 activiti es; 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 factors
and uncertainties, many of which are beyo nd 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 at www.sec.gov and/or
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 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.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
Robert Klein
Chief Financial Officer
908-872-7686
The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Market
Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this
press release.