Company sells 640,000 of its common shares at C$2.75 each in offering
By Devika Patel
Knoxville, Tenn., Jan. 26 – Western Uranium Corp. said it plans a C$1.76 million private placement of stock.
The company will sell 640,000 common shares at C$2.75 per share. The price per share reflects a 38.89% discount to the Jan. 23 closing share price of C$4.50.
Proceeds will be used for the company’s Colorado Mining operations, in particular for measures to restart the Sunday complex, and for general working capital purposes, as well as general and administrative expenses. In addition, proceeds may also be used for property acquisitions.
The uranium exploration company is based in Vancouver, B.C.
| Issuer: | Western Uranium Corp.
|
| Issue: | Common shares
|
| Amount: | C$1.76 million
|
| Shares: | 640,000
|
| Price: | C$2.75
|
| Warrants: | No
|
| Pricing date: | Jan. 26
|
| Settlement date: | Nov. 27
|
| Stock symbol: | CNSX: WUC
|
| Stock price: | C$4.50 at close Jan. 23
|
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