What changed in this filing

/stocks — the workspaceLOADING

Item 2. Unregistered Sales of Equity Securities

2022-05-20 compared with 2021-11-22 · 22 added, 50 removed, 10 unchanged (88% of the section changed)

Unregistered Sales of Equity Securities and Use of Proceeds

In August 2021, outstanding warrants were exercised

to purchase a total of 56,000 common shares for cumulative gross proceeds of CAD $91,900.

The warrants exercised were warrants that had

been issued in private placements in August 2016, April 2019, and March 2021.

We issued these securities without registration under the

Securities Act pursuant to the exemption from registration provided by Rule 506 of Regulation D.

The warrant holders represented

that they qualified as accredited investors and were purchasing for investment.

On January 20, 2022, we completed a non-brokered private placement

of 2,495,575 units at a price of CAD $1.60 per unit for aggregate gross proceeds of CAD $3,992,920.

Each unit consisted of one common

share plus one common share purchase warrant.

Each warrant entitled the holder to purchase one common share at a price of CAD $2.50 per

share for a period of three years.

A total of 2,495,575 shares and 2,495,575 warrants were issued in the placement.

Only accredited investors,

as defined in Rule 501(a) of Regulation D, participated in the placement.

We relied on Rule 506(b) of Regulation D for offers and sales

of the units to both U.S.

Defaults Upon Senior Securities

Mine Safety Disclosures

7 unchanged sentences

to improve mine safety.

The operation of our U.S.

based mine is subject

to regulation by the Federal Mine Safety and Health Administration (“MSHA”) under the “Federal Mine Safety and Health

Act of 1977” (the “Mine Act”).

MSHA inspects our mine on a regular basis and issues various citations and orders when

it believes a violation has occurred under the Mine Act.

Following passage of “The Mine Improvement and New Emergency Response Act

of 2006,” MSHA significantly increased the number of citations and orders charged against mining operations.

The dollar penalties

assessed for citations issued has also increased in recent years.

Western is required to report certain mine safety

violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and

Item 104 of Regulation S-K.

This required information is included in Exhibit 95 to this report.

Certificate of Incorporation, as amended

Amended and Restated Bylaws

Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Mine Safety Disclosure Exhibit

Inline XBRL Instance Document.

Inline XBRL Taxonomy Extension Schema Document.

Inline XBRL Taxonomy Extension Calculation Linkbase Document.

Inline XBRL Taxonomy Extension Definition Linkbase Document.

Inline XBRL Taxonomy Extension Label Linkbase Document.

Inline XBRL Taxonomy Extension Presentation Linkbase Document.

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

filed as an exhibit to the Company’s Form 10 registration statement filed on April 29, 2016 and incorporated herein by reference.

** Previously

filed as an exhibit to the Company’s Form 10-K annual report filed on April 15, 2021 and incorporated herein by reference.

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WESTERN URANIUM & VANADIUM CORP.

November 22, 2021

/s/ George Glasier

George Glasier

Chief Executive Officer

(Principal executive officer)

November 22, 2021

/s/ Robert Klein

Chief Financial Officer

(Principal financial and accounting officer)

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and

Consumer Protection Act of 2010 (the “Dodd-Frank Act”), issuers that are operators, or that have a subsidiary that is an operator,

of a coal or other mine in the United States, and that is subject to regulation by the Federal Mine Safety and Health Administration under

the Mine Safety and Health Act of 1977 (“Mine Safety Act”), are required to disclose in their periodic reports filed with

the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and

mining-related fatalities.

Western went into active mining operations at the Sunday Mine Complex during 2021.

During the quarter ended

March 31, 2022, Mine Safety and Health Administration (MSHA) mine inspections have not yielded any disclosures required by Section 1503(a)

of the Dodd-Frank Act.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Unregistered Sales of Equity Securities