UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 3.02. Unregistered Sales of Equity Securities.
On October 14, 2025, Western Uranium & Vanadium Corp. (“Western” or the “Company”) completed a private placement (the “Offering”) of 6,555,556 units (“Units”) at a price of CAD$0.90 per unit for gross proceeds of approximately CAD$5,900,000. Each Unit consisted of one common share of the Company(a “Share”) plus one common share purchase warrant (a “Warrant”) to purchase one additional Share. Each Warrant entitles the holder to purchase one Share at a price of CAD$1.20 for a period of four years and a half following the closing date of the Offering.
In connection with the Offering, the Company entered into an underwriting agreement with A.G.P. Canada Investments ULC (the “Underwriter”) pursuant to which the Underwriter acted as the sole underwriter and bookrunner for the Company. The Company has paid the Underwriter a cash commission of 7% on the aggregate proceeds from Units (being equal to approximately CAD$413,000) and issued 229,444 broker warrants having the same terms and conditions as the Warrants (the “Broker Warrants”).
Western issued the Units (including the Shares and Warrants comprising the Units) and the Broker Warrants outside of the United States in reliance on Rule 903 of Regulation S.
Item 8.01. Other Events.
On October 14, 2025, Western issued the accompanying news release, which announced the closing of the Offering described above in Item 3.02. The news release is filed herewith as an exhibit.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | News release dated October 14, 2025 | |
| 104 | Cover Page Interactive Date 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: October 24, 2025 | WESTERN URANIUM & VANADIUM CORP. | |
| By: | /s/ Robert Klein | |
|
Robert Klein Chief Financial Officer | ||
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