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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Western Uranium Corp       CA95984W1095

WESTERN URANIUM CORP

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WESTERN URANIUM CORP : Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K)

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08/10/2018 | 06:19am EDT

Item 3.02. Unregistered Sales of Equity Securities.

On July 27, 2017, Western Uranium Corporation (the "Company") completed the closing of a non-brokered private placement of 2,525,526 units at a price of CAD$0.68 per unit for gross proceeds of CAD$1,717,358. On August 7, 2017, the Company completed a further closing of 1,907,088 units at the same price for gross proceeds of CAD$1,296,820. As a result of these private placements, the Company raised a total of CAD$3,014,178.

Each unit sold consists of one common share of the Company plus one-half common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one common share of the Company at a price of CAD$1.15 for a period of two years.

The warrants contain a provision that if the Company's shares trade at or above CAD$2.50 per share for five 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.

A total of 43 investors participated in these placements. Only accredited investors (as defined in Rule 501(a) of Regulation D) participated in the placements. Offers and sales were made in private transactions without any general solicitation or advertising. The Company relied on Rule 506(b) of Regulation D for offers and sales of the units to both U.S. and non-U.S. subscribers. Each subscriber confirmed that they were purchasing for their own account for investment and not with a view to distribute the securities purchased.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits.


On July 30, 2018, the Company issued a press release to announce the closing of its private placement on July 27, 2017. A copy of the press release is included as Exhibit 99.1.

On August 9, 2018, the Company issued a press release to announce the closing of its private placement on August 7, 2018. A copy of the press release is included as Exhibit 99.2.



Exhibit No.   Description

99.1            Press Release dated July 30, 2018

99.2            Press Release dated August 9, 2018




  1

© Edgar Online, source Glimpses

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Managers
NameTitle
George E. L. Glasier President, Chief Executive Officer & Director
Bryan Murphy Chairman
Michael Rutter Vice President-Operations
Robert Klein Chief Financial Officer
Andrew Wilder Director
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