Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement
Western Uranium & Vanadium Corp. (WSTRF) has signed a significant Ore Purchase Agreement with Energy Fuels Inc. The one-year agreement enables Western to deliver up to 25,000 short tons of uranium-bearing ore to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States.
Deliveries are scheduled to begin around May 2025, sourced from existing stockpiles at the company's Sunday Mine Complex. The purchase price will be determined based on the uranium grade of each closed lot according to an agreed pricing schedule.
Additionally, the company announced the repricing of 2,868,541 previously issued common share purchase warrants, now exercisable at CAD$2.00 per share, with an extended expiration date to January 20, 2026.
Western Uranium & Vanadium Corp. (WSTRF) ha firmato un importante Contratto di Acquisto Minerario con Energy Fuels Inc. L'accordo annuale consente a Western di consegnare fino a 25.000 tonnellate corte di minerale contenente uranio al White Mesa Mill di Energy Fuels, l'unico impianto convenzionale di uranio/vanadio operativo negli Stati Uniti.
Le consegne sono programmate per iniziare intorno a maggio 2025, provenienti da scorte esistenti presso il Sunday Mine Complex dell'azienda. Il prezzo di acquisto sarà determinato in base al grado di uranio di ciascun lotto chiuso secondo un programma di prezzi concordato.
Inoltre, l'azienda ha annunciato la riprezzatura di 2.868.541 warrant di acquisto di azioni ordinarie precedentemente emessi, ora esercitabili a CAD$2,00 per azione, con una data di scadenza estesa al 20 gennaio 2026.
Western Uranium & Vanadium Corp. (WSTRF) ha firmado un importante Acuerdo de Compra de Mineral con Energy Fuels Inc. El acuerdo de un año permite a Western entregar hasta 25,000 toneladas cortas de mineral que contiene uranio a la planta White Mesa de Energy Fuels, la única planta convencional de uranio/vanadio operativa en los Estados Unidos.
Las entregas están programadas para comenzar alrededor de mayo de 2025, provenientes de existencias existentes en el Sunday Mine Complex de la empresa. El precio de compra se determinará en función del grado de uranio de cada lote cerrado de acuerdo con un calendario de precios acordado.
Además, la empresa anunció la revalorización de 2,868,541 warrants de compra de acciones ordinarias previamente emitidos, ahora ejercitables a CAD$2.00 por acción, con una fecha de vencimiento extendida hasta el 20 de enero de 2026.
Western Uranium & Vanadium Corp. (WSTRF)는 Energy Fuels Inc.와 중요한 광석 구매 계약을 체결했습니다. 이 1년 계약은 Western이 Energy Fuels의 White Mesa Mill에 최대 25,000 단톤의 우라늄 함유 광석을 배송할 수 있도록 합니다. 이는 미국에서 유일하게 운영되는 전통적인 우라늄/바나듐 밀입니다.
배송은 2025년 5월경에 시작될 예정이며, 회사의 Sunday Mine Complex에 있는 기존 재고에서 공급됩니다. 구매 가격은 합의된 가격 일정에 따라 각 폐쇄된 로트의 우라늄 등급에 따라 결정됩니다.
또한, 회사는 이전에 발행된 2,868,541개의 보통주 매수 워런트의 가격을 재조정했다고 발표했으며, 현재 CAD$2.00에 주당 행사할 수 있으며, 만료일이 2026년 1월 20일로 연장되었습니다.
Western Uranium & Vanadium Corp. (WSTRF) a signé un important Contrat d'Achat de Minerai avec Energy Fuels Inc. Cet accord d'un an permet à Western de livrer jusqu'à 25 000 tonnes courtes de minerai contenant de l'uranium à l'usine White Mesa d'Energy Fuels, la seule usine conventionnelle d'uranium/vanadium opérationnelle aux États-Unis.
Les livraisons devraient commencer vers mai 2025, provenant des stocks existants du Sunday Mine Complex de l'entreprise. Le prix d'achat sera déterminé en fonction de la teneur en uranium de chaque lot fermé selon un calendrier de prix convenu.
De plus, l'entreprise a annoncé la revalorisation de 2 868 541 bons de souscription d'actions ordinaires précédemment émis, désormais exerçables à CAD$2,00 par action, avec une date d'expiration prolongée jusqu'au 20 janvier 2026.
Western Uranium & Vanadium Corp. (WSTRF) hat einen bedeutenden Erz-Kaufvertrag mit Energy Fuels Inc. unterzeichnet. Der einjährige Vertrag ermöglicht es Western, bis zu 25.000 Short Tons uranhaltigen Erzes an die White Mesa Mill von Energy Fuels zu liefern, die einzige betriebsfähige konventionelle Uran-/Vanadium-Mühle in den Vereinigten Staaten.
Die Lieferungen sollen voraussichtlich im Mai 2025 beginnen und stammen aus bestehenden Lagerbeständen des Sunday Mine Complex des Unternehmens. Der Kaufpreis wird basierend auf dem Uran-Gehalt jedes geschlossenen Loses gemäß einem vereinbarten Preisschema festgelegt.
Zusätzlich gab das Unternehmen die Neupreisgestaltung von 2.868.541 zuvor ausgegebenen Kaufwarrants für Stammaktien bekannt, die jetzt zu CAD$2,00 pro Aktie ausgeübt werden können, mit einem verlängerten Fälligkeitsdatum bis zum 20. Januar 2026.
- New revenue stream from uranium ore sales agreement with up to 25,000 short tons delivery
- Immediate monetization of existing stockpiles requiring no additional mining costs
- Strategic partnership with the only operational uranium/vanadium mill in the US
- Purchase price remains variable, dependent on uranium grade of each lot
- Warrant repricing to CAD$2.00 could lead to potential dilution if exercised
Toronto, Ontario and Nucla, Colorado, April 14, 2025 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the “Company”) is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).
Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels’ White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company’s flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.
George Glasier, Western’s CEO stated: “This Agreement strengthens Western’s strategic position and accelerates our generation of revenues, while rewarding shareholder investments that have yielded our current stockpiles. The collaboration with Energy Fuels provides synergies and leverage for both companies, while the North American nuclear fuel supply chain benefits from expedited near-term production of uranium resources.”
Warrant Repricing
Further to the news release issued by the Company on November 29, 2024, Western announces that a total of 2,868,541 previously issued common share purchase warrants (the "Warrants") have been repriced and are now exercisable at CAD
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedarplus.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Grant Glasier
Vice President Marketing and Project Development
303-808-3306
grantg@western-uranium.com
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
FAQ
What is the size of Western Uranium & Vanadium's (WSTRF) new ore supply agreement with Energy Fuels?
When will WSTRF begin delivering uranium ore to Energy Fuels' White Mesa Mill?
What are the new terms for WSTRF's repriced warrants?
How many warrants were repriced in WSTRF's recent announcement?
