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Western Uranium & Vanadium Clarifies Proposal for New Class of Shares
TORONTO and NUCLA, Colo., June 10, 2019 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the “Company”) is providing
About this update from Western Uranium & Vanadium Corp.
[{"type":"text","content":" TORONTO and NUCLA, Colo., June 10, 2019 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the “Company”) is providing clarifications to one of the items of business proposed for consideration at the shareholder meeting that has been called for June 21, 2019 (the “Meeting”). As described in the management information circular for the meeting (the “Circular”), as well as in the related notice of Meeting, form of proxy and notice and access notification to shareholders (collectively the “Ancillary Documents”), management has proposed that shareholders adopt a special resolution authorizing an amendment to the current articles of incorporation of the Company (the “Amendment Proposal”). The Circular and Ancillary Documents have been posted under the Company’s profile at www.sedar.com, on Western’s website at http://western-uranium.com/annual-general-meetings.html, and on the website of the Company’s transfer agent’s at http://capitaltransferagency.ca/. As described in the Circular, if the Amendment Proposal is approved by Western’s shareholders at the Meeting and the corresponding amendment to the Company’s articles of incorporation (as previously amended up to the date of this news release, the “Current Articles”) is completed, in addition to being able to issue Common Shares (the sole class of shares the Company is currently authorized to issue), the Company would also be authorized to issue a new class of shares that are identified as “Class A Common Shares” in the Circular and Ancillary Documents. In this news release, that new class of shares is now being referred to as “Subordinate Voting Shares” and, for the purpose of the Amendment Proposal, the Company is seeking approval to create “Subordinate Voting Shares”. As a result, if the Amendment Proposal is approved and implemented, the corresponding amendment to the Current Articles would identify the new class of shares as “Subordinate Voting Shares”, or a substantially similar name. These Subordinate Voting Shares would be equal to the Common Shares of the Company in most respects, but the voting rights attributed to them could not be equal to or greater than the rights attributed to the Common Shares, and those Subordinate Voting Shares could not be convertible into Common Shares at a ratio greater than on a one for one (1:1) bas...