- Western Uranium & Vanadium (WUC) has closed the second tranche of its non-brokered private placement
- The company issued 2,495,575 units at a price of $1.60 per unit for gross proceeds of C$3,992,920
- A total of 2,868,541 shares and 2,868,541 warrants are being issued in the two tranches of the placement for total gross proceeds of C$4,589,666
- Western Uranium & Vanadium is focused on low-cost and near-term uranium and vanadium production in the Western United States
- Western Uranium Corp. (WUC) opened trading at $1.59 per share
Western Uranium & Vanadium (WUC) has closed the second tranche of its non-brokered private placement.
The company issued 2,495,575 units at a price of $1.60 per unit for gross proceeds of C$3,992,920.
A total of 2,868,541 shares and 2,868,541 warrants are being issued in the two tranches of the placement for total gross proceeds of C$4,589,666.
Each unit consists of one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one additional share at a price of $2.50 for a period of three years following the closing of the offering.
The warrants are subject to an acceleration clause.
Net proceeds will be used for the expansion and extension of the Sunday Mine Complex project, for business development capital purposes, and for general corporate and working capital purposes.
Securities issued pursuant to the Private Placement shall be subject to a minimum six-month hold period.
Western Uranium & Vanadium is a Colorado-based uranium and vanadium conventional mining company focused on low-cost near-term production of uranium and vanadium.
Western Uranium Corp. (WUC) opened trading at $1.59 per share.