By Devika Patel
Knoxville, Tenn., Aug. 29 - Western Uranium Corp. announced it has completed a C$21,227,727 private placement of units.
The company sold 5,586,244 units at C$3.80 apiece to Cameco Corp., a wholly owned subsidiary. Each unit will consist of one share and one half-share warrant. Each warrant is exercisable at C$4.25 for one year.
The shares represent 10% of the company's outstanding share capital and have a four-month hold period.
Western, a uranium exploration company based in Vancouver, B.C., plans to use the proceeds for exploration.
| Issuer: | Western Uranium Corp.
|
| Issue: | Units of one share and one half share warrant
|
| Amount: | C$21,227,727
|
| Investor: | Cameco Corp.
|
| Units: | 5,586,244
|
| Price: | C$3.80
|
| Warrants: | One half warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$4.25
|
| Settlement date: | Aug. 29
|
| Stock symbol: | TSX Venture: WUC
|
| Stock price: | C$1.85 at close Aug. 29
|
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