Western Uranium Corporation Purchases Additional Units of Western Lithum in Private Placement
October 14 2009 - 10:20AM
Marketwired
Western Uranium Corporation (the "Company") (TSX VENTURE: WUC)
announces that it has purchased 1,476,000 units of Western Lithium
Canada Corporation ("Western Lithium") at a price of $0.95 per
unit, pursuant to a private placement. Each unit consisted of one
common share and one-half of a share purchase warrant, with each
whole share purchase warrant being exercisable into one additional
common share of Western Lithium at a price of $1.25 per share for
eighteen months. These common shares acquired, together with the
18,209,393 common shares of Western Lithium already owned by the
Company, represent 19,685,393 common shares, or 24.4% of Western
Lithium's current issued and outstanding share capital following
the private placement. Upon exercise of the 738,000 share purchase
warrants purchased plus the 3,000,000 purchase warrants already
owned by the Company in full, the Company would own 23,423,393
common shares of Western Lithium, or approximately 29.1% of the
issued and outstanding common shares of Western Lithium, assuming
no other common shares are issued by Western Lithium. The Company
has acquired these securities for investment purposes only. Further
securities of Western Lithium may be acquired by the Company in the
market or privately from time to time.
On behalf of the Board of Western Uranium Corporation
Pamela J. Klessig, President & CEO
Western Uranium Corporation is a mineral exploration company
with a focus on uranium. The Company has exploration properties in
Kings Valley, Nevada, Treeline, New Mexico and in the Thelon Basin,
Nunavut and the Northwest Territories. The Company has its head
office in Vancouver, Canada; and its executive management team is
based in Reno, Nevada.
The TSX Venture Exchange has neither approved or disapproved of
the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as such term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts: Western Uranium Corporation Pamela Klessig Chief
Executive Officer 775-827-3311 info@westernuranium.com
www.westernuraniumcorp.com
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