Western Uranium & Vanadium Grants Stock Options to Officers and Employees

Western Uranium & Vanadium Corp. recently disclosed in an 8-K SEC filing that on November 24, 2024, they granted a total of 1,375,000 stock options to various officers, directors, and employees of the company. The stock options, part of the Company’s Incentive Stock Option Plan, have an exercise price set at CAD$1.32 per share. These options allow the holders to acquire one Western common share for a period of five years, starting from the vesting date, which will occur in equal parts on January 31, 2025, July 31, 2025, and January 31, 2026.

The granting of these Options was executed in compliance with the private offering exemption as per Section 4(a)(2) of the U.S. Securities Act of 1933, as amended. Additionally, on November 26, 2024, Western issued a news release detailing company updates, including the recent grant of stock options.

Further, the press release dated November 26, 2024, underscored key developments within Western Uranium & Vanadium Corp. One notable update is the appointment of Nathan Bishop as Lead Geologist. With nearly two decades of geological experience, particularly in copper mining operations in Western North America, Mr. Bishop brings a wealth of expertise to the team. His arrival is expected to enhance drillhole surveying quality and accuracy, crucial for assessing the mineralization at the Sunday Mine Complex (SMC).

Mr. Bishop’s responsibilities will include overseeing the underground drilling program, from data collection to result reporting and technical documentation updates. The recent drilling efforts have identified new mining areas based on over 30,000 linear feet of horizontal drilling completed in 2024 at the SMC. Subsequent drilling phases will focus on resource expansion, leveraging the vast borehole geophysical dataset available.

To expedite progress at the SMC, Western has made operational enhancements by hiring additional staff and transitioning the mining and drilling teams to a 7-day on / 7-day off, 12-hour shift schedule. This adjustment aims to streamline project advancement efficiently.

About Western Uranium & Vanadium Corp., the company is intensifying high-grade uranium and vanadium production at its Sunday Mine Complex in addition to conventional projects located in Colorado and Utah. With the licensing of the Maverick Minerals Processing Plant and Pinon Ridge Corporation processing plant to include the kinetic separation process, Western aims to further bolster its production capabilities.

Investors and interested parties are encouraged to stay informed of any additional progress by referring to the company’s filings available at www.sec.gov and/or www.sedarplus.com. While the Company does not have a set schedule for updating forward-looking statements, it commits to doing so as needed under relevant laws and regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Western Uranium & Vanadium’s 8K filing here.

Western Uranium & Vanadium Company Profile

Western Uranium & Vanadium Corp. engages in exploring, developing, mining, and production of uranium and vanadium resource properties in the United States. The company holds interests in the San Rafael uranium project located in Emery County, Utah; the Sunday Mine Complex situated in western San Miguel County, Colorado; the Van 4 mine located in western Montrose County, Colorado; the Sage mine project situated in San Juan County, Utah, and San Miguel County, Colorado; and the Dunn Project located in San Juan County, Utah.