Western Uranium Corporation, formerly known as Homeland Uranium Inc. (the "Company") (CSE:WUC), is pleased to announce that it has completed a private placement raising gross proceeds of Cdn $1,760,000 through the issuance of 640,000 common shares at a price of Cdn $2.75 per common share.
In connection with this private placement, the Company will pay in agents' and/or broker fees a total of Cdn $88,000. Additional details regarding the private placement can be found in the Form 9 filed in accordance with the rules of the Canadian Securities Exchange, a copy of which is accessible at www.cnsx.ca under the Company's profile.
The proceeds will be used for the Company's Colorado Mining operations, in particular to restart the Sunday complex, and for general working capital purposes and to fund general and administrative expenses.
In addition, some or all of the proceeds could also be used to fund property acquisitions, to the extent that any are identified and pursued by the Company.
