Item 3.02. Unregistered Sales of Equity Securities.
On January 6, 2020, Western Uranium & Vanadium Corp. ("Western" or the
"Company") granted an aggregate of 600,000 options ("Options") to purchase
Western common shares to five officers, directors, and consultants under the
Company's Incentive Stock Option Plan. Each Option is exercisable to acquire one
common share (each an "Option Share") for a five-year term. The Options'
CAD$1.03 exercise price was determined based upon the closing prices of the
Company's common shares on both the date of grant and the prior trading day. The
Options vest equally in three installments beginning on the date of grant and
thereafter on January 31, 2020 and June 30, 2020. The Company is relying on the
private offering exemption from registration provided by Section 4(a)(2) of the
U.S. Securities Act of 1933 for the grant of the Options and for the offer and
sale of the Option Shares.
A copy of the press release announcing the grant of the Options is attached as
Exhibit 99.1 to this report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press release dated January 8, 2020
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