Western Uranium & Vanadium Corp. Closes Fully Subscribed Brokered LIFE Financing of $7.25 Million

FOR IMMEDIATE RELEASE.

Toronto, Ontario and Nucla, Colorado, Dec. 12, 2023 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to announce the closing of its brokered private placement financing previously announced in the Company’s news release issued on December 4, 2023 (the “Offering”). Pursuant to the Offering, Western has issued a total of 5,215,828 units at a price of Cdn$1.39 per unit (each, a “Unit”) for aggregate gross proceeds of approximately Cdn$7,250,000, with each Unit being comprised of one common share (each, a “Share”) and one half of one common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one Share of the Company at a price of Cdn$1.88 per Share, for a period of four (4) years from the date of issuance. A total of 5,215,828 Shares and 2,607,913 Warrants were issued pursuant to the Offering.

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