On December 12, 2023, Western Uranium & Vanadium Corp. closed the transaction. The company issued 5,215,828 units at a price of CAD 1.39 per unit for aggregate gross proceeds of up to CAD 7,250,000.92 in the transaction.

Each unit will be comprised of one common share and one half of one common share purchase warrant, each whole warrant being exercisable for one common share of the Company at a price of CAD 1.88 per share, for a period of four years. A total of 5,215,828 Shares and 2,607,913 Warrants were issued pursuant to the Offering. A cash commission equal to 7% of the gross proceeds so raised in the Offering is being paid to A.G.P. Canada.

Closing of the Offering is subject to certain conditions and receipt of all necessary approvals, including compliance with the requirements of the Canadian Securities Exchange.