Western Uranium & Vanadium Corp. announced a non-brokered private placement of 372,966 units at a price of CAD 1.60 per unit for gross proceeds of CAD 596,746 on December 18, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 2.50 per share for a period of three years from closing, subject to acceleration if the company’s shares trade at or above CAD 5 per share for 10 consecutive trading days, the company may at any time after the expiry of the applicable statutory hold period, accelerate the expiration of the warrants upon not less than 30 days’ written notice by the company. Securities issued in the transaction are subject to hold period of 6 months. The closing of the transaction is subject to final regulatory approval.
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