Western Uranium & Vanadium Announces Upsize of Brokered LIFE Financing to $5.9 Million

Executive Summary

• Western Uranium & Vanadium Corp. increased its previously announced equity offering from C$5,000,000 to C$5,900,000, issuing 6,555,556 units at $0.90 per unit.
• Each unit consists of one common share and one common‑share purchase warrant (exercisable at C$1.20 for four ½ years).
• Net proceeds are earmarked for permitting the Mustang Mineral Processing Plant, drilling and monitoring at San Rafael, mine development across the portfolio, permitting & baseline work at Topaz Mine, and general corporate working capital.

Key Details

• Offering Size: Increased to C$5,900,000 (up from C$5,000,000).
• Units Issued: 6,555,556 units at $0.90 per unit.
• Unit Composition:
• 1 common share
• 1 common‑share purchase warrant (exercisable for 1 additional common share at C$1.20 per share, valid for 4 ½ years).
• Underwriter/Bookrunner: A.G.P. Canada Investments ULC (sole underwriter and bookrunner).
• Exemption Used: Listed Issuer Financing Exemption (“LIFE”) under NI 45‑106 in all Canadian provinces except Québec; private placement exemptions for the United States and other jurisdictions as applicable.
• Closing Conditions: Subject to customary closing conditions, CSE approval, and other regulatory approvals.
• Use of Proceeds:
• Permit Mustang Mineral Processing Plant.
• Drilling, monitoring, and permitting for San Rafael Uranium Project.
• Mine development & maintenance across existing production portfolio.
• Permitting and baseline data collection for Topaz Mine.
• General corporate working capital, including administrative costs.
• Document Access: Amended Offering Document available on the Company’s SEDAR profile (www.sedarplus.com) and website (www.western-uranium.com).

Notable Quotes

• “The strong investor demand underscores confidence in our development strategy and provides the capital needed to advance key projects, including Mustang and San Rafael,” – George Glasier, President & CEO.