WESTERN URANIUM CORPORATION (CNSX:WUC) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities.
On March 30, 2017, Western Uranium Corporation (the Company)
completed the closing of a non-brokered private placement (the
Placement), which remains subject to final regulatory approval.
In the Placement, the Company issued a total of 634,424 units
(the Units) for gross proceeds of USD $835,805. The Company
issued the Units at a price of Cdn$1.75 per Unit. Each Unit
consists of one common share of the Company (a Share) plus one
common share purchase warrant of the Company (a Warrant). Each
Warrant entitles the holder to purchase one Share at a price of
Cdn$3.25 for a period of 5 years following the closing date on
which the Warrant was issued. The Warrants contain a provision
that if the Companys shares trade at or above Cdn$4.25 per share
for 15 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. Only accredited investors (as
defined in Rule 501(a) of Regulation D) participated in the
Placement. 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. The Company will file Form D with respect to the
Placement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated March 31, 2017 |
About WESTERN URANIUM CORPORATION (CNSX:WUC)
Western Uranium Corporation is a Canada-based company engaged in the acquisition and development of uranium resource properties in the states of Utah and Colorado in the United States. The Company is in the business of exploring, developing, mining and the production of its uranium and vanadium resource properties, including the utilization of its ablation technology in mining processes. The Company’s mineral properties include San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Yellow Cat Project located in eastern Grand County, Utah; The Farmer Girl Mine project located in Montrose County, Colorado, and The Sage Mine project located in San Juan County, Utah, and San Miguel County, Colorado. The Company holds interest in Hansen-Taylor Complex, which is a complex of uranium mines located in Colorado. WESTERN URANIUM CORPORATION (CNSX:WUC) Recent Trading Information
WESTERN URANIUM CORPORATION (CNSX:WUC) closed its last trading session down -0.03 at 1.79 with 2,900 shares trading hands.
