Western Uranium & Vanadium Closes Brokered LIFE Financing of $5.9 Million
October 14, 2025
Western Uranium & Vanadium Closes Brokered LIFE Financing of $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 the closing of its bought deal private placement financing, which was previously
announced in the Company’s news release s issued on October 8, 2025 and October 9, 2025. Pursuant to the financing,
Western issued a total of 6,555,556 units at a price of Cdn$0.90 per unit (each, a “Unit”) for aggregate gross proceeds of
approximately Cdn$5,900,000 (the “Offering”) with each Unit being comprised of one common share (each, a “ Share”)
and one common share purchase warrant (each, a “ Warrant”). Each Warrant is exercisable for one Share at a price of
Cdn$1.20 per share, for a period of four years and a half from the date of issuance.
As described in greater detail in the Amended Offering Document, the net proceeds of the Offering will be used as
follows: (a) permitting of Mustang Mineral Processing Plant; (b) drilling, monitoring and permitt ing 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.
The Units under the Offering were offered to purchasers pursuant to the listed issuer financing exemption (“LIFE”) under
Part 5A of National Instrument 45-106– Prospectus Exemptions, as amended by the Coordinated Blanket Order 45-935 –
Exemptions from Certain Conditions of the Listed Issuer Financing Exemption , in all the provinces of Canada, except
Québec, and in certain other jurisdictions pursuant to applicable securities laws. Pursuant to the LIFE exemption, the
Shares and Warrants are not subject to any statutory hold period under applicable Canadian securities laws. There is an
offering document (as amended and restated) related to the Offering that can be accessed under the Company's profile
at www.sedarplus.com, and on the Company's website at www.western-uranium.com.
In connection with the Offering, Western entered into an underwriting agreement with A.G.P. Canada Investments ULC
(the “Underwriter”) pursuant to which the Underwriter acted as the sole underwriter and bookrunner for the Offering.
The Underwriter received a fee comprised of a cash commission of 7% on the aggregate proceeds from Units issued and
229,444 broker warrants which are subject to a statutory hold period of four-months and one day from the date of their
issuance. A.G.P./Alliance Global Partners acted as U.S. placement agent in the Offering.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the " U.S. Securities Act ") or any state securities laws, and accordingly, may not be offered or sold within
the United St ates 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 a n offer to sell or a solicitation of an offer to buy any securities in any jurisdiction. No
Units were issued to investors that would qualify as U.S. persons.
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 and Utah that are currently undergoing permitting and d evelopment. 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 dep endent upon: the Company’s expectations, estimates and
projections regarding the Offering , intended use of proceeds of the Offering,; exploration and production plans and
results; the timing of planned activities; whether the Company can raise any addition al 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, as sets and plans.
All such forward-looking statements are subject to important risk factors 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 onwww.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
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy
or accuracy of this release.