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




                                       1

© Edgar Online, source Glimpses