Western Uranium & Vanadium Announces Brokered LIFE Financing of $5 Million

Executive Summary

• Western Uranium & Vanadium Corp. entered into an engagement agreement with A.G.P. Canada Investments ULC to act as sole underwriter and bookrunner for a bought‑deal private placement of 5,555,556 units at C$0.90 per unit, targeting gross proceeds of approximately C$5 million.
• Each unit consists of one common share and one common share purchase warrant (exercisable at C$1.20 per share for four‑and‑a‑half years).
• Net proceeds are earmarked for permitting the Mustang Mineral Processing Plant, drilling and monitoring at the San Rafael Uranium Project, mine development across the portfolio, permitting and baseline data collection for Topaz Mine, and general corporate working capital.

Key Details

• Units Offered: 5,555,556 units @ C$0.90 per unit → Gross proceeds ≈ C$5,000,000.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price C$1.20, term 4½ years).
• Underwriter/Bookrunner: A.G.P. Canada Investments ULC (sole underwriter and bookrunner).
• Offering Structure: Private placement under the listed issuer financing exemption (LIFE) of NI 45‑106; not subject to statutory hold period in Canada (except broker warrants have a 4‑month hold).
• Commission: Cash and broker warrants payable on closing; broker warrants carry same terms as offering warrants but are subject to a four‑month hold.
• Use of Proceeds:
• Permit Mustang Mineral Processing Plant.
• Drilling, monitoring, and permitting for San Rafael Uranium Project.
• Mine development & maintenance across production portfolio.
• Permitting & baseline data collection for Topaz Mine.
• General corporate working capital (including G&A).
• U.S. Offering: Units also to be offered privately in the U.S. under applicable exemptions; not registered under the U.S. Securities Act.
• Closing Conditions: Subject to customary conditions, CSE approvals, and other regulatory requirements.

Notable Quotes

• “The financing will provide essential capital to advance our permitting, drilling, and development programs across multiple high‑grade uranium and vanadium projects,” – George Glasier, President and CEO.
• “We are pleased to partner with A.G.P. Canada on this transaction, which underscores confidence in Western’s growth strategy and project pipeline,” – Robert Klein, Chief Financial Officer.