Western Uranium & Vanadium Corp. Announces CAD $5.5 Million Financing Deal
- Western Uranium & Vanadium Corp. is securing financing through a brokered private placement.
- The financing aims to raise up to CAD $5.5 million for various mining projects.
- This development highlights the Company’s strategy to expand its production capabilities.
On November 8, 2024, Western Uranium & Vanadium Corp. announced it is engaging A.G.P. Canada Investments as the sole agent for a brokered private placement financing. The financing involves issuing up to 4,166,666 units at CAD $1.32 per unit, aiming to raise gross proceeds of up to CAD $5.5 million. A 15% overallotment option is included in the offering. The proceeds from the financing will focus on enhancing production capabilities at the Sunday Mine Complex, developing mineral processing facilities, and acquiring additional mining equipment. Furthermore, the offering will allow for securities to be offered to U.S. residents under specific exemptions from registration requirements. Investors in Canada will face a statutory hold period on the securities, while those outside Canada are expected to face no such hold. This financing aligns with the Company's strategic goal to ramp up uranium and vanadium production in Colorado and Utah regions.