Western Uranium & Vanadium Corp. Extends and Reprices Warrants
Western Uranium & Vanadium Corp (OTCQX: WSTRF) announced modifications to its previously issued warrants. The company is extending the expiration date of 2,868,541 warrants to January 20, 2026, and plans to reduce their exercise price from CAD $2.50 to CAD $2.00 per share, subject to warrant holders' consent. These warrants were originally issued between December 13, 2021, and January 20, 2022. The amended exercise price will remain higher than the closing price of Western's shares on the original issuance date. One company director owns 3,000 warrants, making this a related party transaction.
Western Uranium & Vanadium Corp (OTCQX: WSTRF) ha annunciato modifiche ai suoi warrant precedentemente emessi. L'azienda sta estendendo la data di scadenza di 2.868.541 warrant al 20 gennaio 2026 e prevede di ridurre il loro prezzo di esercizio da CAD $2,50 a CAD $2,00 per azione, soggetto al consenso dei detentori di warrant. Questi warrant sono stati originariamente emessi tra il 13 dicembre 2021 e il 20 gennaio 2022. Il prezzo di esercizio modificato rimarrà superiore al prezzo di chiusura delle azioni della Western nella data di emissione originale. Un direttore della società possiede 3.000 warrant, rendendo questa una transazione tra parti correlate.
Western Uranium & Vanadium Corp (OTCQX: WSTRF) anunció modificaciones a sus warrants emitidos previamente. La empresa está extendiendo la fecha de expiración de 2,868,541 warrants hasta el 20 de enero de 2026 y planea reducir su precio de ejercicio de CAD $2.50 a CAD $2.00 por acción, sujeto al consentimiento de los tenedores de warrants. Estos warrants fueron emitidos originalmente entre el 13 de diciembre de 2021 y el 20 de enero de 2022. El precio de ejercicio modificado seguirá siendo superior al precio de cierre de las acciones de Western en la fecha de emisión original. Un director de la empresa posee 3,000 warrants, lo que convierte esto en una transacción entre partes relacionadas.
Western Uranium & Vanadium Corp (OTCQX: WSTRF)는 이전에 발행된 워런트에 대한 수정 사항을 발표했습니다. 회사는 2,868,541개의 워런트의 만료 날짜를 2026년 1월 20일로 연장하고, 이들의 행사가를 CAD $2.50에서 CAD $2.00로 낮출 예정이며, 워런트 보유자들의 동의가 필요합니다. 이 워런트들은 2021년 12월 13일부터 2022년 1월 20일 사이에 원래 발행되었습니다. 수정된 행사가격은 원래 발행일의 Western 주식 종가보다 여전히 높습니다. 한 회사 이사가 3,000개의 워런트를 보유하고 있어 이는 관련 당사자 거래로 간주됩니다.
Western Uranium & Vanadium Corp (OTCQX: WSTRF) a annoncé des modifications à ses warrants précédemment émis. L'entreprise prolonge la date d'expiration de 2 868 541 warrants jusqu'au 20 janvier 2026 et prévoit de réduire leur prix d'exercice de CAD $2,50 à CAD $2,00 par action, sous réserve du consentement des détenteurs de warrants. Ces warrants ont été émis à l'origine entre le 13 décembre 2021 et le 20 janvier 2022. Le prix d'exercice amendé restera supérieur au prix de clôture des actions de Western à la date d'émission d'origine. Un directeur de l'entreprise possède 3 000 warrants, ce qui en fait une transaction entre parties liées.
Western Uranium & Vanadium Corp (OTCQX: WSTRF) gab bekannt, dass Änderungen an ihren zuvor ausgegebenen Warrants vorgenommen wurden. Das Unternehmen verlängert das Ablaufdatum von 2.868.541 Warrants auf den 20. Januar 2026 und plant, den Ausübungspreis von CAD $2,50 auf CAD $2,00 pro Aktie zu senken, vorbehaltlich der Zustimmung der Warrant-Inhaber. Diese Warrants wurden ursprünglich zwischen dem 13. Dezember 2021 und dem 20. Januar 2022 ausgegeben. Der geänderte Ausübungspreis wird weiterhin über dem Schlusskurs der Western-Aktien zum ursprünglichen Ausgabetag liegen. Ein Direktor des Unternehmens besitzt 3.000 Warrants, was diese Transaktion zu einer Transaktion mit nahestehenden Personen macht.
- Lower warrant exercise price (CAD $2.50 to CAD $2.00) could encourage warrant exercise and capital raising
- Extension of warrant expiration provides more time for potential exercise
- Warrant modifications indicate potential challenges in attracting investment at original terms
- Related party involvement in warrant transaction (director owns 3,000 warrants)
Toronto, Ontario and Nucla, Colorado, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the “Company”) is extending the term and intends to reduce the exercise price of a total of 2,868,541 previously issued common share purchase warrants (collectively, the “Amendment”). The warrants were originally issued between December 13, 2021 and January 20, 2022 (collectively, the “Warrants”) as part of the Company’s previously completed non-brokered financing and are due to expire on the date that is three years after their issuance. All Warrants are currently exercisable at a price of CAD
One of the directors of the Company is the beneficial owner of 3,000 Warrants and therefore a “related party” of the Company pursuant to Multilateral Instrument 61-101- Take Over bids and Special Transactions (“M1 61-101”); as such, the Amendment is considered a “related party transaction” within the meaning of MI 61-101.The Company is not required to obtain a formal valuation in connection with the Amendment or minority shareholder approval prior to effecting the Amendment as the fair market value of the Amendment does not exceed
Western will notify each Warrant holder of the amendment set out above but it will not issue replacement Warrant certificates. Original Warrant certificates must be presented to the Company in order to effect the exercise of such Warrants. The Company will file an amended Form 13 with the Canadian Securities Exchange (the “CSE”) if and when the repricing of Warrants is completed.
Completion of the Amendment is subject to compliance with the requirements of the CSE.
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 Maverick Minerals Processing Plant and Pinon Ridge Corporation processing plant will be licensed to include the kinetic separation process.
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:
George Glasier
President and CE
970-864-2125
gglasier@western-uranium.com
Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com
FAQ
What changes did Western Uranium & Vanadium (WSTRF) make to its warrants?
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When were the original WSTRF warrants issued?
