Western Uranium & Vanadium Corp. Files 8-K

TL;DR

WUC filed an 8-K on Oct 1st, looks like a new deal or event happened.

AI Summary

Western Uranium & Vanadium Corp. filed an 8-K on October 4, 2024, reporting on events that occurred on October 1, 2024. The filing indicates the entry into a material definitive agreement, other events, and financial statements and exhibits. Specific details regarding the agreement or other events are not provided in this excerpt.

Why It Matters

This 8-K filing signals significant corporate activity for Western Uranium & Vanadium Corp., potentially involving new agreements or operational updates that could impact its business and investors.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could represent significant opportunities or risks for the company, but the lack of specific details necessitates a medium risk assessment.

Key Players & Entities

• Western Uranium & Vanadium Corp. (company) — Registrant
• October 1, 2024 (date) — Earliest event reported
• October 4, 2024 (date) — Filing date
• 330 Bay Street, Suite 1400, Toronto, Ontario, Canada M5H 2S8 (address) — Principal business address

FAQ

Key Financial Figures

• $830,000 — holders were to be paid approximately US$830,000 for their PRC equity and shareholder lo
• $414,000 — cash paid to the sellers, approximately $414,000 was paid to George Glasier and approxim
• $24,000 — aid to George Glasier and approximately $24,000 was paid to an affiliate of Andrew Wild

Filing Documents

• ea0216770-8k_western.htm (8-K) — 31KB
• ea021677001ex99-1_western.htm (EX-99.1) — 8KB
• ex99-1_001.jpg (GRAPHIC) — 8KB
• 0001213900-24-085209.txt ( ) — 220KB
• wuc-20241001.xsd (EX-101.SCH) — 3KB
• wuc-20241001_lab.xml (EX-101.LAB) — 33KB
• wuc-20241001_pre.xml (EX-101.PRE) — 22KB
• ea0216770-8k_western_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On October 1, 2024, Western Uranium & Vanadium Corp. (together with its affiliates, "Western" or the "Company") executed a binding Stock Purchase Agreement (the "Agreement") to purchase 100% of the shares of Pinon Ridge Corporation, a Colorado corporation ("PRC"), from a private investor group and thereby acquire an approximately 900-acre property located in Montrose County, Colorado, where a uranium processing plant was previously licensed but never constructed. The Agreement provided that the former PRC shareholders were to be paid approximately US$830,000 for their PRC equity and shareholder loan repayments. As of October 3, 2024, Western has completed all such payments and the transaction has closed. George Glasier, the President, CEO and a director of Western, and his wife Kathleen owned 50% of the shares of PRC, and Andrew Wilder, a director of Western, indirectly owned 3% of the shares of PRC, and so the transaction was considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, a rule that applies to Western as a Canadian company. The Company's Board of Directors established an independent committee of the Board comprised of directors who were not considered to have an interest in the transaction, and the independent committee oversaw the negotiation and approved the entering into the Agreement on behalf of the Company. Of the total cash paid to the sellers, approximately $414,000 was paid to George Glasier and approximately $24,000 was paid to an affiliate of Andrew Wilder. The transaction will be accounted for as a purchase of an asset. Western also assumed certain PRC liabilities and obligations in the transaction, including royalty obligations payable to an unrelated third party based upon the mineral volume processed through any mineral processing plant that is located on the property.

01. Other Events

Item 8.01. Other Events. On October 1, 2024, the Company issued a news release announcing its entry into the Agreement described in Item 1.01, above. The news release is filed herewith as Exhibit 99.1.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated October 1, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL documents) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 4, 2024 WESTERN URANIUM & VANADIUM CORP. By: /s/ Robert Klein Robert Klein Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR