Offering will finance planned acquisition of Black Range Minerals
By Devika Patel
Knoxville, Tenn., Aug. 19 – Western Uranium Corp. said it completed a US$1.77 million private placement of units with a 50% greenshoe. The deal priced for US$2.5 million with a 50% greenshoe on June 29.
The company sold 1,042,282 units of one common share and one warrant at C$1.70 per unit.
Each five-year warrant is exercisable at C$2.80, a 19.15% premium to the June 28 closing share price of C$2.35.
Proceeds will be used for the company’s planned acquisition of Black Range Minerals Ltd. and development of its ablation technology, for mine production preparation and for working capital purposes.
The uranium exploration company is based in Vancouver, B.C.
| Issuer: | Western Uranium Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | US$1,771,879
|
| Units: | 1,042,282
|
| Price: | US$1.70
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$2.80
|
| Pricing date: | June 29
|
| Settlement date: | Aug. 19
|
| Stock symbol: | CSE: WUC
|
| Stock price: | C$2.35 at close June 28
|
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