UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 3.02. Unregistered Sales of Equity Securities.
On November 24, 2024, Western Uranium & Vanadium Corp. (“Western” or the “Company”) granted an aggregate of 1,375,000 stock options (“Options”) to a number of officers, directors, and employees of Western under the Company’s Incentive Stock Option Plan. The Option exercise price was set at CAD$1.32 based upon the closing share prices on the two trading days prior to the grant date and the pricing of units offered in the Company’s most recent private placement. Each Option is exercisable to acquire one Western common share for a five-year term starting with the vesting date. The Options will vest equally in three instalments on January 31, 2025, July 31, 2025, and January 31, 2026.
The Company granted the Options and offered the underlying common shares in reliance on the exemption from registration for private offerings provided by Section 4(a)(2) of the U.S. Securities Act of 1933, as amended.
Item 8.01. Other Events.
On November 26, 2024, Western issued the accompanying news release, which provided some company updates, including, among others, an announcement about the grant of Options disclosed above in Item 3.02. The news release is filed herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Press release dated November 26, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL documents) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 27, 2024 | WESTERN URANIUM & VANADIUM CORP. | |
| By: | /s/ Robert Klein | |
|
Robert Klein Chief Financial Officer | ||
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