"GEORGE GLASIER, President & CEO of Western Uranium commented as follows: ‘As a result of several financing avenues available to the Company, the Private Placement announced on October 16 2015 has been amended."
Translation, IMO: No one was willing to pay $4.25 per unit (one common share plus a one-half share warrant) so we dropped the offering price to $2.97 and increased the warrant to one full share. We also dropped the warrant strike price from $5.75 to $3.50.
I guess the good news is less dilution (100,000 shares versus 352,000), at least until any future convertible debt is issued and converted and/or the 100,000 warrants are exercised.
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