Western Uranium & Vanadium Corp. Extends and Reprices Warrants
November 29, 2024
Western Uranium & Vanadium Corp. Extends and Reprices Warrants
FOR IMMEDIATE RELEASE.
Toronto, Ontario and Nucla, Colorado - Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“ Western”
or the “Company”) is extending the term and intends to reduce the exercise price of a total of 2,868,541 previously
issued common share purchase warrants (collectively, the “Amendment”). The warrants were originally issued between
December 13, 2021 and January 20, 2022 (collectively, the “Warrants”) as part of the Company’s previously completed
non-brokered financing and are due to expire on the date that is three years after their issuance . All Warrants are
currently exercisable at a price of CA D $2.50 per common share of Western. The term of the Warrants has been
extended with all the Warrants now expiring on January 20, 2026. Subject to the consent of the holders of the Warrants,
the exercise price of Warrants will be reduced to CA D $2.00 per share, with the amended exercise price being higher
than the closing price of Western’s shares on the original issuance date of each Warrant. In accordance with exchange
rules, no compensation warrant is being extended or repriced. All other terms of the Warrants will remain unchanged.
One of the directors of the Company is the beneficial owner of 3,000 Warrants and therefore a “related party” of the
Company pursuant to Multilateral Instrument 61 -101- Take Over bids and Special Transactions (“M1 61-101”); as such,
the Amendment is considered a “related party transaction” within the meaning of MI 61 -101.The Company is not
required to obtain a formal valuation in connection with the Amendment or minority shareholder approval prior to
effecting the Amendment as the fair market value of the Amendment does not exceed 25% of the Company's market
capitalization.
Western will notify each Warrant holder of the amendment set out above but it will not issue replacement Warrant
certificates. Original Warrant certificates must be presented to the Company in order to effect the exercise of such
Warrants. The Company will file an amended Form 13 with the Canadian Securities Exchange (the “CSE”)if and when the
repricing of Warrants is completed.
Completion of the Amendment is subject to compliance with the requirements of the CSE.
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 Maverick Minerals Processing Plant and Pinon Ridge
Corporation processing plant will be licensed to include the kinetic separation process.
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 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
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 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 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