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Western Uranium & Vanadium Closes Bought Deal Financing of CAD $5 Million

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Toronto, Ontario and Nucla, Colorado, June 13, 2025 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) ("Western" or the "Company") is pleased to announce the closing of its bought deal private placement financing, which was previously announced in the Company's news release issued on June 10, 2025. Pursuant to the financing, Western issued a total of 5,911,786 units at a price of CAD $0.85 per unit (each, a "Unit") for aggregate gross proceeds of approximately CAD $5,025,018 (the "Offering") with each Unit being comprised of one common share (each, a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant is exercisable for one Share of the Company at a price of CAD $1.05 per Share, for a period of four (4) years from the date of its issuance. A total of 5,911,786 Shares and 5,911,786 Warrants were issued in the Offering.

The Company intends to use the net proceeds of the Offering for the expansion of the production capability and mining at the Sunday Mine Complex, licensing and development of minerals processing facilities, baseline data collection and permitting of the San Rafael Project, acquisition of uranium/vanadium properties in close proximity to Western's production centers, purchase of additional mining equipment and for general working capital purposes.

The Units were issued to investors who are residents in the United States pursuant to available exemptions from the registration requirements under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and were also issued in such other jurisdictions outside of Canada pursuant to Ontario Securities Commission Rule 72-503, Distributions Outside Canada ("Rule 72-503"). The Units issued to investors outside Canada pursuant to Rule 72-503 are not subject to any statutory hold period under applicable Canadian securities laws. No Units ...